Howard Lutnick

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Howard Lutnick Divests From Businesses

Commerce secretary transfers ownership of Cantor Fitzgerald to his kids

(Newser) - Commerce Secretary Howard Lutnick is divesting from his businesses. He's transferred his ownership of Cantor Fitzgerald, the brokerage and investment bank he ran for more than 30 years, to trusts benefiting his adult children, the Wall Street Journal and Bloomberg report. His two eldest sons had already been named...

Trump Brought a Bunch of Honchos to Saudi Arabia

The list of American executives in attendance is long

(Newser) - President Trump landed in Saudi Arabia on Tuesday to a very warm welcome , and he brought with him an entire entourage. As the New York Times reports, a who's who of business executives attended a lunch in Riyadh, as well as a significant part of Trump's Cabinet. A...

Lutnick: Only a 'Fraudster' Would Gripe Over Missing SS Payments

Billionaire Commerce chief scoffs at idea of seniors upset by skipped Social Security payment

(Newser) - A Trump Cabinet member has caused a ruckus with his remarks about Social Security, using one of his own family members in his narrative. As the GOP tries to assuage Americans' fears that benefits paid out by the Social Security Administration are on the chopping block, Commerce Secretary Howard Ludnick...

Fears of a 2025 Recession Are Gaining Steam
Fears of a 2025 Recession
Are Gaining Steam
the rundown
Mar 10, 2025 10:43 AM CDT

Fears of a 2025 Recession Are Gaining Steam

Big banks more pessimistic as Trump declines to rule out the possibility

(Newser) - Wall Street started the new trading week in a foul mood on Monday, with the Dow tumbling about 500 points and the benchmark S&P 500 index down more than 2%. It's a continuation of last week's selloff blamed on tariff uncertainty, but Monday's pain appears to...

Trump Concedes Recession Is Possible

Adjusting to tariffs will take time, president says

(Newser) - President Trump would not rule out the possibility of a recession this year during an interview aired Sunday, saying it "takes a little time" for the economy and Americans to see the benefits of his new tariffs. He discounted the recent stock market losses, contending "you have to...

Lutnick Expects Delay on Mexico, Canada Tariffs

He suggests they could be dropped if countries do 'a good enough job on fentanyl'

(Newser) - Commerce Secretary Howard Lutnick says President Trump will "likely" delay tariffs on almost all imports from Canada and Mexico for a month—and that the 25% tariffs introduced Tuesday might be completely dropped. As stocks dropped sharply Thursday morning, Lutnick told CNBC that only reciprocal tariffs might be imposed...

Trump May Be Ready to Pull Back on Canada, Mexico Tariffs

Lutnick says president plans to meet two countries 'in the middle'

(Newser) - After two days of steep stock market drops, President Trump might be preparing to pull back on his 25% tariffs on imports from Canada and Mexico. Commerce Secretary Howard Lutnick said Tuesday that Trump plans to "meet in the middle" with the two countries and an announcement will probably...

Trump: For $5M, I'll Give Foreigners a 'Gold Card'
Trump Rolling Out
a $5M 'Gold Card'
Feb 26, 2025 6:00 AM CST

Trump Rolling Out a $5M 'Gold Card'

Visa program is like a green card, but for rich people who can pony up

(Newser) - President Trump teased a new visa program Tuesday with something "like a green card," but his favorite color: gold. Trump said the gold card, with "a higher level of sophistication," would offer "very high-level people" a new "route to citizenship"—for the cost...

Cruise Stocks Sink After Lutnick Remarks

Commerce secretary says companies don't pay taxes, but that will change under Trump

(Newser) - Stocks in major cruise lines sank on Thursday after remarks from newly confirmed Commerce Secretary Howard Lutnick about cracking down on how the industry is taxed. In a Fox News appearance Wednesday night, Lutnick suggested that the companies would be paying more taxes under the Trump administration, CNBC reports. "...

Trump Picks Lutnick for Commerce Secretary
Trump Gets Another
Confirmed Cabinet Member
UPDATED
Feb 18, 2025 6:29 PM CST

Trump Gets Another Confirmed Cabinet Member

Senate votes 51-45 to confirm Lutnick as commerce secretary, advances Patel nomination

(Newser) - Another member of President Trump's Cabinet has been confirmed. The Senate voted 51 to 45 Tuesday evening to confirm billionaire financier Howard Lutnick as Trump's commerce secretary, the New York Times reports. Lutnick agreed last month to step down as chairman and CEO of investment firm Cantor Fitzgerald,...

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