Secretary of Commerce Howard Lutnick promised an increase in Department of Commerce export enforcement and penalties at the Bureau of Industry and Security’s (BIS) annual update conference. The secretary’s comments provide insight into the direction of the US export regime in the Trump administration.
This announcement was part of the Mr. Lutick’s opening address and were his first official official comments as Secretary of Commerce. There has been a notable silence from the BIS in the months following Trump’s inauguration and this address should make clear for those questioning the current direction of the agency.
Secretary of Commerce Howard Lutnick
Howard Lunick was chairman and CEO of Cantor Fitzgerald, and BGC Group, both of which are financial service firms. He was a fundraiser for Trump’s presidential campaigns in 2020 and 2024. He has been a strong supporter of the administration’s reconfiguration of tariffs. He was sworn in as Secretary for the Department of Commerce in February of 2025.
Other BIS News
- TSMC, a Taiwanese semiconductor manufacturer may be facing $1 billion dollars in fines for a possible violation of export regulations as reported by Reuters. The Dept. of Commerce investigation concerns AI processors created for a Chinese firm.
- The BIS is advising companies to pay special attention to any transactions that involve shipments to or through Hong Kong. Hong Kong has been identified as a key location for diversion of high technologies.
- The BIS is now sending “Red Flag Letters” to notify exporters of potential export compliance issues. These letters are not intended for public disclosure and are intended to convey the importance for increased diligence.
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