Commerce Nominee Defends Trump Tariffs and Promises Strong Stance on China

Source 
Author 
Coverage Type 

Howard Lutnick, a wealthy donor to President Trump who has been chosen to lead the Commerce Department, defended Mr. Trump’s plans to impose broad tariffs and said he would take a tough stance on technology sales to China during his Senate confirmation hearing. If confirmed, Lutnick would lead on trade policy and oversee a broad portfolio of government programs touching on business promotion, technology and science. He told lawmakers that he favored “across-the-board” tariffs that would hit entire countries rather than specific products, to equal out America’s trading relationships. The Commerce Department—which has 51,000 workers and an $11 billion budget—is in charge of promoting business interests abroad, restricting technology exports to protect national security, and delivering subsidies to the semiconductor and broadband industries. It also oversees the U.S. census, patents, weather forecasting, fisheries, and the development of global technological standards, among other functions.


Commerce Nominee Defends Trump Tariffs and Promises Strong Stance on China