President-elect Donald Trump's recent ultimatum to the BRICS countries threatens a 100% tariff on their exports to the U.S. if they attempt to establish a new currency away from the dollar. This reflects growing tensions as BRICS nations push back against U.S. financial dominance, highlighting the fragile balance of power in global trade.
President-elect Donald Trump has named Howard Lutnick, CEO of Cantor Fitzgerald, as his pick for Secretary of Commerce. This unexpected nomination is part of Trump's strategy to enforce a stronger tariff and trade agenda. In addition to his duties at the Commerce Department, Lutnick will oversee the U.S. Trade Representative's office, instrumental in forming U.S. trade policies. His financial sector experience and ties to Trump positioned him ahead of other potential candidates. The appointment marks a strategic shift towards heightened tariffs, echoing Trump's campaign promises, with Lutnick championing these measures as essential for safeguarding American jobs and boosting economic prosperity. Acknowledged for his humanitarian efforts post-9/11, Lutnick's new role promises significant impacts on U.S. trade policy and economic strategies moving forward.