Lutnick faces scrutiny over trade policy as criticism mounts

U.S. Commerce Secretary Howard Lutnick is facing mounting criticism over his handling of the Trump administration’s trade strategy, which has rattled global markets and raised concerns about broader economic fallout.

Lutnick, 64, a self-made businessman and former Wall Street executive, has been accused of erratic behavior and overstepping his authority. Critics within the White House and business community describe him as an unreliable figure and a difficult negotiating partner, according to The Wall Street Journal.

The Commerce Department, which oversees trade, economic development and technology, has an $11 billion annual budget and employs more than 51,000 people. Every decision Lutnick makes carries significant weight in both domestic and international markets.

Even President Donald Trump has reportedly expressed concern about Lutnick’s unpredictable style. According to the Financial Times, Trump reassigned key tariff negotiations with Japan to Treasury Secretary Scott Bessent, who is viewed as more moderate.

● Policy reversals draw fire

Lutnick has drawn criticism for frequent policy shifts and inconsistent communication. The Journal reported that more than a dozen White House officials and business leaders have voiced frustration over a lack of clarity in his decisions.

In a meeting with agricultural executives last month, Lutnick said he would push for tariff exemptions on mangoes, which are difficult to grow domestically. But when the list of exemptions was released April 2, mangoes were not included.

He also told energy industry leaders that crude oil would not be exempted from tariffs. Yet crude was added to the exemption list just days later.

In discussions with Japanese officials, Lutnick reportedly supported Nippon Steel’s bid to acquire U.S. Steel. He later reversed his position after Trump publicly opposed the deal.

Lutnick has also faced criticism for stepping outside his trade portfolio. He reportedly helped craft a new immigration initiative known as the “gold card” program, which offers permanent residency in exchange for a $5 million investment.

The Journal reported that Lutnick has backed several controversial ideas, including the purchase of Greenland from Denmark, regaining control of the Panama Canal, and even annexing Canada.

White House officials were caught off guard when Lutnick floated the idea of abolishing the Internal Revenue Service during a live television interview. He was later advised to scale back his media appearances.

● Wall Street background, political ambitions

Before joining the administration, Lutnick served as CEO of Cantor Fitzgerald, a major Wall Street investment firm. Born in 1961 on Long Island, New York, he lost both parents as a teenager. He graduated from Haverford College in Pennsylvania with a degree in economics and began his career at Cantor as an entry-level employee.

During the Sept. 11, 2001, attacks, Cantor Fitzgerald’s offices were located in the World Trade Center. Lutnick, who was not in the office that day, survived, but 658 employees — including his brother, Gary — were killed. He later launched a relief fund that has provided $180 million to support victims’ families.

Lutnick and Trump reportedly formed a bond over their shared New York roots. In 2008, Lutnick appeared as a guest judge on Trump’s reality TV show, “The Apprentice.”

After Trump’s election, Lutnick lobbied for the Treasury Secretary position but was passed over in favor of Bessent. The two have reportedly clashed several times over trade and monetary policy.