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Trump commerce nominee says Canada, Mexico can avoid tariffs, vows stronger China tech curbs

The article from Reuters discusses Donald Trump's potential pick for Commerce Secretary, Howard Lutnick, who has expressed a preference for implementing across-the-board tariffs if Trump wins the 2024 presidential election. Lutnick, the CEO of Cantor Fitzgerald, suggested that these tariffs could be set at 10% on all imports, aiming to simplify trade policy and potentially fund tax cuts. This approach would mark a significant shift in U.S. trade policy, moving away from targeted tariffs on specific countries or products to a more universal application. The article also notes that Trump's previous administration had already utilized tariffs extensively, particularly against China, leading to trade tensions. However, the idea of broad tariffs could face opposition due to potential increases in consumer prices and retaliatory measures from trading partners.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/us/trump-commerce-chief-pick-lutnick-says-he-prefers-across-the-board-tariffs-by-2025-01-29/ ]