Howard Lutnick, Secretary of Commerce of the United States, stated that President Donald Trump could reach a common agreement with Mexico and Canada regarding the imposition of tariffs on imports from both countries.
“They (Canada and Mexico) will do more, and there will be a middle ground. We will likely announce it tomorrow (Wednesday),” the U.S. official said during an interview with Fox News.
He added: “The president (Donald Trump) is listening (…) So I think he will find a solution with them. It will not be a pause.”
The announcement has sparked general expectations. And on Google, searches on the topic have increased with terms like “Trump roll back tariffs” and “Trump may roll back tariffs”.
Who is Howard Lutnick?
Howard Lutnick is an American businessman with an estimated net worth of $2 billion. Known primarily for his leadership at Cantor Fitzgerald, one of the most important financial firms in the United States, Lutnick has been an influential figure on Wall Street for decades.
He was appointed Secretary of Commerce by Donald Trump, establishing himself as a key player in the economic policy of the Republican administration.
ALSO READ. How do tariffs work? Who pays them? What you need to know
Howard Lutnick joined Cantor Fitzgerald in 1983, immediately after graduating from Haverford College with a degree in economics. With a competitive mindset and an innovative vision, he quickly rose through the company and was named president and CEO in 1991, at just 30 years old.
Under his leadership, Cantor Fitzgerald became a leader in bond trading, handling more than 70% of U.S. Treasury securities. In the 1990s, Lutnick spearheaded the development of eSpeed, an electronic bond trading platform that revolutionized the industry. Currently, he is the sole shareholder of Cantor Fitzgerald Group Management, giving him full control of the company.
How did Howard Lutnick survive September 11, 2001?
September 11, 2001, marked a before and after in Howard Lutnick’s life. At the time, Cantor Fitzgerald had its offices on the 101st-105th floors of the North Tower of the World Trade Center. At 8:46 a.m., American Airlines Flight 11 struck the building between the 93rd and 99th floors, trapping all Cantor employees.
Lutnick survived due to a personal decision: he took his son to his first day of kindergarten. That morning, 658 of his employees, including his younger brother Gary and his best friend Douglas Gardner, died in the attack.
Following the tragedy, Lutnick faced harsh criticism for suspending payments to the families of the deceased employees. In an interview with Larry King on CNN, he explained his decision: “I lost everyone in the company… I have no money to pay their salaries.” Later, he created the Cantor Fitzgerald Relief Fund to support affected families, donating more than $100 million since then.
