Edi_20.11.

On Tuesday, the US President-elect surprised everyone with a new appointment: Donald Trump nominated Howard Lutnick as his Commerce Secretary – a choice that signals a tougher stance toward China for the upcoming administration. Lutnick edged out Robert Lighthizer and Linda McMahon for the position. As CEO of the investment bank Cantor Fitzgerald, Lutnick had clearly advocated for a 60% tariff on Chinese goods during the campaign.