Donald Trump has announced the nomination of Howard Lutnick, CEO of Cantor Fitzgerald, to lead the Department of Commerce, focusing on tariffs and trade policies. Lutnick, a longtime Trump supporter and co-chair of the transition team, will oversee the implementation of a 60% tariff on Chinese goods and up to 20% on other imports. He has expressed support for tariffs as a means to boost domestic productivity and has advocated for reducing government spending. Industry leaders, including the National Retail Federation and Micron Technology, have congratulated Lutnick on his nomination.

Source: https://www.supplychaindive.com/news/donald-trump-names-howard-lutnick-commerce-secretary/733483/