#cryptonews
Currently, Trump plans to implement a tariff range of 60 percent to 100 percent on Chinese goods while having remaining foreign countries pay 20 percent.
According to reports, Trump favors choosing Lutnick to help lead the nation’s commerce. The billionaire businessman previously spoke out in favor of the former reality television star’s controversial tariff plans.
Speaking with The New York Times on November 17, an anonymous source told the media outlet that the situation had devolved into a “knife fight” between Lutnick and fellow Treasury Secretary hopeful Scott Bessent, with the former acting as the “primary aggressor.”
Meanwhile, the role of U.S. Treasury secretary continues to be undecided after Lutnick allegedly got on the former U.S. president’s nerves by campaigning too hard for the coveted cabinet position.
Warsh and Rowan have a comparatively less crypto-friendly stance than Lutnick and Bessent. Warsh recently argued in defense of a Central Bank Digital Currency (CBDC), while Rowan has claimed that he does not see the “value of an alternative currency” given anti-money laundering and know-your-customer provisions.
In addition to the Key Square Capital Management founder, Trump reportedly considers Federal Reserve governor Kevin Warsh and billionaire Marc Rowan as Treasury Secretary.
According to the report, the internal frustration over which Wall Street executive would land the role caused “second thoughts” for Trump, which have reportedly “slowed down the selection process.”