The big investor is angry! Wall Street is lobbying the Trump team with full force, aiming to get Lutnik "to quickly distance himself from tariffs."

Wallstreetcn
2025.04.20 11:22
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As the market grows weary of the ever-changing tariff policies, White House Commerce Secretary Howard Lutnick has become Wall Street's "punching bag," with Wall Street executives lobbying within the White House to "fire Howard" and demanding that he be quickly reassigned to some inconsequential grassroots outreach work

Just as the tariff dispute is heating up, Wall Street has found a "punching bag" in Howard Lutnick.

This Commerce Department official from the Trump administration, former Wall Street star trader, and current White House "spokesperson" has become the target of the capital markets.

According to media reports, some Wall Street figures believe that his repeated, exaggerated, and even incoherent defense of tariff policies in public has exacerbated market chaos. The mainstream circles of Wall Street are pushing for a "fire Lutnick" campaign, lobbying the Trump team to remove Lutnick from tariff matters as soon as possible, preferably assigning him to do something less significant.

But is it really all his fault?

Why is Wall Street so angry with Lutnick?

For the U.S. government to operate normally, the most critical factor is the bond market, even more important than the stock market. This is because much of the government's money is raised through the issuance of treasury bonds. Now, more and more signs indicate that bond investors are very dissatisfied with the Trump administration's policies, which are erratic and capricious, making people frustrated. Today, a large-scale tariff increase is announced, and tomorrow it is said to be suspended; today, there is an exemption for tech companies, and tomorrow it is canceled. This makes it difficult for people to confidently lend money. In the long run, it may even become hard to sell U.S. treasuries, which is a big deal for the entire economy.

Critics argue that Lutnick's incessant defense of Trump's erratic tariff policies in public only worsens the situation. In a television interview, Lutnick made a statement that infuriated Wall Street:

"This will create millions of factory jobs, people will be re-tightening small screws, making iPhones... These jobs will be done by great American craftsmen."

As a result, Wall Street exploded. Wall Street executives are lobbying within the White House to "fire Howard," demanding that he be quickly reassigned to some insignificant grassroots visiting work.

Moreover, this lobbying effort intensified over the past weekend. According to Xinhua News Agency, the U.S. government's relevant online platform quietly released information last Friday night, exempting so-called "reciprocal tariffs" on electronic products such as smartphones, laptops, and chips.

Investors who were originally prepared for a significant rebound in tech stocks on Monday heard Lutnick's remarks on a television program on Sunday, stating that this was not the case. A Wall Street executive described Lutnick's comments as "a complete disruptor."

Some media also accused Lutnick's company—Cantor Fitzgerald—of heavily investing in AI and automation industries, suggesting that his policies promoting the return of manufacturing and the rise of robotic factories might indirectly benefit himself.

Who is the real architect of the tariffs?

A White House insider stated, "Many people on Wall Street dislike Howard, but their current reaction makes it seem as if this tariff policy was created by him, rather than the president himself."

Media pointed out that, in fact, Trump is the main character in this tariff whirlwind. From the initial 10% global tariffs to the sudden announcement of suspending some levies, all were decisions made by him personally. Lutnick is merely the spokesperson for this script Currently, the discourse power in trade is gradually shifting from Lutnik to Treasury Secretary Scott Bessenet. JP Morgan's Jamie Dimon previously stated that he believes U.S. Treasury Secretary Bessenet should be responsible for negotiating trade agreements. Speaking about Bessenet, Dimon said, "I know him a bit," describing him as a mature person