Howard Lutnick Tapped for Commerce Secretary Role in Trump Administration

Donald Trump is expected to appoint Howard Lutnick as commerce secretary. Lutnick, CEO of Cantor Fitzgerald, would oversee export controls and support Trump's economic vision, including job repatriation and cryptocurrency promotion. The role is pivotal in the U.S.-China tech conflict, focusing on technology export restrictions.

Donald Trump, the U.S. President-elect, is anticipated to select Howard Lutnick, CEO of Cantor Fitzgerald, as the commerce secretary. This appointment is seen as a strategic move in the ongoing technological standoff between the United States and China.

Lutnick, a long-time ally of Trump, aligns with the president's agenda to revitalize American manufacturing jobs and endorse cryptocurrency. The Commerce Department, which controls American export regulations, has emerged as a critical player in curbing China's technological advancements.

Though Lutnick is not frequently vocal about China, he has advocated for tariffs targeting Beijing. The position of commerce secretary will entail managing regulations aimed at hindering China's growth in artificial intelligence and technologies crucial to maintaining a competitive edge over firms like Huawei.

(With inputs from agencies.)