WASHINGTON – President Donald Trump announced a new U.S. tariffs plan on Thursday with Howard Lutnick standing by his side in The White House.
Lutnick, the former chief executive officer of Cantor Fitzgerald, is set to be confirmed as the new Commerce Secretary.
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“I call it the external revenue service,” Trump said. “That was a name that was devised by a few of us.”
Trump said the reciprocal tariffs will vary from country to country. He added that these are supposed to be a reflection of what each country charges on imports.
The Senate voted 52-45 to advance Lutnick’s nomination on Thursday afternoon.
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