WASHINGTON –
Investment banker Howard Lutnick’s exposure to China came into sharp relief on Wednesday, after Republican President-elect Donald Trump tapped him to lead the agencies that have become the tip of the spear in the U.S.-China trade war.
Financial services firms helmed by Lutnick have profited from ties to China, from BGC Group, which has a joint venture in Beijing with Chinese-state owned China Credit Trust, to Cantor Fitzgerald, which has helped take Chinese firms public in the United States.
The financial ties raise questions about whether Lutnick could be unduly influenced by Beijing when making decisions about whether to impose fresh tariffs and export curbs on China as United States trade representative and commerce secretary, lawmakers and ethics experts said.