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Howard Lutnick, Trump’s ‘Buoyant’ Trade Warrior, Flexes His Power Over Global Business

The New York Times's profile
The New York Times
3h ago

Howard Lutnick, as the Secretary of Commerce, has become a pivotal figure in President Trump's aggressive trade policy, wielding significant influence over global business and industries affected by sweeping tariffs. While Lutnick supports tariffs as a means to revive American industry, he also advocates for moderation and has successfully lobbied for exemptions for certain industries, causing confusion and lobbying efforts among companies. Lutnick's role extends beyond traditional commerce duties, as he explores innovative financial strategies and seeks to expand his influence within the government, including over the customs service and the U.S. Postal Service. His proposals, sometimes seen as unconventional, have unsettled foreign officials and executives, even as he remains a trusted adviser to President Trump. Despite the tumult within the Commerce Department, where morale has declined, Lutnick continues to champion Trump's vision of a strong U.S. economy protected by tariffs and has become a prominent figure in Trump's administration, leveraging his Wall Street background and personal rapport with the president.

Howard Lutnick, Trump’s ‘Buoyant’ Trade Warrior, Flexes His Power Over Global Business

Howard Lutnick, appointed by President Trump as Secretary of Commerce, plays a crucial role in the administration's trade policy, advocating for tariffs while simultaneously negotiating exemptions for certain industries, leading to a complex relationship with major global companies.

Lutnick's influence is marked by his dual approach: publicly supporting tariffs to stimulate American manufacturing, yet privately urging moderation and securing tariff exemptions for automotive and electronic companies, resulting in confusion within the business sector.

Beyond his commerce duties, Lutnick seeks to expand his reach by proposing novel financial strategies, such as a 'gold card' citizenship for wealthy foreigners and leveraging tariff revenues for a sovereign wealth fund, reflecting his background as a Wall Street executive.

His unconventional ideas have sparked concern among foreign officials and business executives, yet he remains a key adviser to Trump, proposing significant changes like merging the Postal Service with the Commerce Department to enhance efficiency and financial stability.

The morale within the Commerce Department has declined due to increased workloads and job cuts, with employees feeling disconnected from Lutnick, who spends considerable time at the White House and focuses on implementing Trump's economic vision.

Lutnick's relationship with Trump is strengthened by their personal rapport and shared economic goals, despite his controversial media presence and aggressive negotiation tactics, which have caused tension both domestically and internationally.

Lutnick's past as CEO of Cantor Fitzgerald, marked by personal tragedy and success, shapes his current role, driving his relentless approach to policy implementation and his ability to navigate the complexities of government and business influence.

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