US President-elect Donald Trump has announced that he has nominated American billionaire and investor Howard Lutnick for the position of Secretary of Commerce in his administration. Lutnick, chairman and CEO of investment firm Cantor Fitzgerald , is set to become a key figure in shaping US economic policy over the next four years.
"I am pleased to announce that Howard Lutnick will join my administration as the United States Secretary of Commerce," Trump wrote. He noted that Lutnik will play a leading role in the implementation of the new trade strategy, which includes significant changes in customs policy and reducing economic dependence on China.
In his new position, Lutnik will be responsible for supporting American businesses and implementing Trump's ambitious program, which includes:
- Introduction of significant tariffs on imports from China - up to 60%;
- A general increase in customs duties of up to 20% on imports from other countries;
- Formation of the tariff and trade agenda aimed at the protection of national producers.
The plan aims to reduce the U.S.'s dependence on foreign suppliers while encouraging domestic manufacturing.
Trump's proposal has caused mixed reactions among experts. Some see Lutnik's appointment as an opportunity to increase the competitiveness of the American economy, given his successful business experience. Others warn that the introduction of high tariffs could lead to trade conflicts, higher prices for consumers and slower economic growth.
Lutnik himself, who supported Trump during the election campaign and acted as one of the sponsors of his team, shares the president's political course. Although he has no previous public office, his background in business and finance gives him considerable credibility among Trump supporters.
The Commerce Department, which Lutnik will lead if confirmed, has about 50,000 employees and an annual budget of $11 billion. Its activities cover issues of international trade, business support and innovation development.
