Commerce Nominee Howard Lutnick Advocates for Swift Tariff Strategy

Howard Lutnick, nominated for U.S. Commerce Secretary, pledged to advocate for country-by-country tariffs to curb China's AI tech advancements and pressure Canada and Mexico into controlling fentanyl flow. He also plans to prevent misuse of U.S. tech and resign from business roles to avoid conflicts of interest.

Howard Lutnick, President Donald Trump's nominee for Commerce Secretary, emphasized the need for urgent trade actions during his Senate confirmation hearing. He urged Canada and Mexico to quickly halt fentanyl inflows to sidestep planned 25% U.S. tariffs.

The Wall Street executive, noted for his considerable fortune, outlined his tariff strategy, stressing the importance of reestablishing 'reciprocity' in trade relations. Lutnick warned of pressing barriers potentially limiting China's AI technology access, targeting fairness through tariff reforms.

As part of his approach to manage global trade relations, Lutnick vowed to eliminate and simplify exclusions for steel tariffs, asserting his alignment with Trump's broader trade policies. His commitments include relinquishing his leadership roles to ensure unbiased decision-making in his prospective government role.

(With inputs from agencies.)