Trump Taps Lutnick as Commerce Secretary
Pres.-elect Donald Trump on Tuesday announced on Truth Social that he would be nominating Howard Lutnick — the co-chair of Trump's transition team and the CEO of the financial services firm Cantor Fitzgerald — as the next Secretary of Commerce....
Facts
- Pres.-elect Donald Trump on Tuesday announced on Truth Social that he would be nominating Howard Lutnick — the co-chair of Trump's transition team and the CEO of the financial services firm Cantor Fitzgerald — as the next Secretary of Commerce.[1][2]
- The commerce department oversees much of the federal government's economic policies. In his statement, Trump called Lutnick 'a dynamic force of Wall Street' who will be at the forefront of the administration's 'Tariff and Trade agenda.'[3][2]
- Lutnick has vocally supported Trump's promise to enact strict tariffs on US imports and shares Trump's support of the cryptocurrency industry. He also has the backing of prominent Trump benefactor, Tesla and SpaceX CEO Elon Musk.[4]
- Trump's pledge to impose tariffs of at least 60% on imports from China, and tariffs of 10-20% on imports from other countries, was a major selling point of his campaign. Trump's first term saw Commerce exercise its 'Section 232' authority to put tariffs on steel and aluminum.[5]
- Lutnick was reportedly a candidate for treasury secretary, which oversees a larger department than commerce secretary. Trump has yet to name a nominee for that position.[6]
Sources: [1]Washington Post, [2]Truth Social, [3]Al Jazeera, [4]Associated Press, [5]MSN and [6]BBC.com.
Narratives
- Republican narrative, as provided by Daily Wire. In vocally supporting Trump and the president-elect's tariff plan, Lutnick has earned this role by bucking the Wall Street elites. In fact, many of those elites opposed this nomination — proving that Trump has again struck a chord with one of his picks. Lutnick's past experiences and his knowledge of the economy will help make the US great again.
- Democratic narrative, as provided by The New Republic. Another day has brought yet another unfathomable Trump cabinet nomination. Lutnick has backed Trump's tariff plan despite admitting it would cause prices to rise, and knowing that experts predict it will wreck the economy. He's spewed bigoted and fascist rhetoric on behalf of Trump. In other words, he's a perfect addition to Trump's collection of horrible cabinet picks.
