According to Trump, Lutnick will be given “additional direct responsibility for the Office of the United States Trade Representative,” the body responsible for imposing customs duties..
Customs duties occupy an essential part of Trump’s economic agenda, and he has pledged to impose comprehensive duties on all imports when he assumes the presidency for a second, non-consecutive term..
Lutnick is the CEO of the financial services company.”Cantor FitzgeraldHe is an ally of Trump and was originally considered the most likely candidate for the position of Secretary of the Treasury.
But the Republican billionaire chose instead to assign him the Commerce portfolio, a department limited in scope compared to the Treasury Department, which works to strengthen American industry and plays a key role in the policy of supporting the semiconductor sector in the United States and reducing dependence on Asia..
Under President Joe Biden, the Commerce Department has strengthened export controls on critical technologies such as quantum computing and semiconductor manufacturing goods, seeking to clamp down on China..
And can manage Trump To take a tougher stance.
During the election campaign, Lutnick expressed his support for imposing customs duties of up to 60 percent on Chinese goods, in addition to ten percent duties on all imports..
