BY C STONE | STONE NEWS NETWORK
President-elect Donald J. Trump has chosen Howard Lutnick, the head of Cantor Fitzgerald to be the commerce secretary. Trump made the announcement today on his social media platform Truth Social, saying:
Lutnick "will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative."
Lutnick believes in the same hammer solution of imposing tariffs on countries with unfair business practices such as extremely low labor costs.
Most mainstream economists are skeptical of tariffs, and think they are an inefficient way to balance a country's trade inequity. However, it worked very well with China during the previous Trump administration.
This eliminates Robert Lighthizer, who would have joined his administration as Commerce Secretary. A highly coveted and powerful position within the President's administration.
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