Trump nominates Howard Lutnick as Commerce secretary to lead trade policy

President-elect Donald Trump has announced his nomination of Howard Lutnick as secretary of Commerce. Lutnick will oversee the administration's tariff and trade policy, aiming to boost U.S. manufacturing through significant tariffs on imports. Lutnick, who has a background in finance and philanthropy, previously co-chaired Trump's transition team. He has faced criticism for his views on vaccines and has been a major financial supporter of Trump's campaign. The proposed tariffs could significantly impact American households, with estimates suggesting a potential cost of over $2,600 annually. Lutnick's nomination requires Senate confirmation.