Scrutinize Commerce nominee's trade, crypto ties for conflicts

Lutnick's outspoken support for expansive tariffs is concerning given the potential negative impacts on the economy and American consumers. Tariffs act as taxes on imported goods, raising prices and constraining choice for businesses and households. While aimed at protecting certain domestic industries, broad tariffs risk prompting damaging trade wars and retaliatory actions from other nations that could harm U.S. exporters and workers. Furthermore, Lutnick's ties to the cryptocurrency industry raise questions about potential conflicts of interest if he is charged with overseeing regulation and policies impacting that space as Commerce Secretary. Cryptocurrencies operate in a largely unregulated environment rife with risks around money laundering, fraud, and volatility. Ensuring proper oversight while avoiding entrenchment of special interests will be critical. I urge great scrutiny of Lutnick's policy positions and background during the confirmation process. Advancing an agenda favoring one businessman's interests over the national economic interest would be unacceptable for this crucial Cabinet role overseeing trade, industry, and economic data. An evidence-based, ethical approach prioritizing broad-based prosperity is needed at the Commerce Department.