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Robert Lighthizer is the obvious choice to be Treasury Secretary in a second Trump administration. As the architect of Trump's first-term trade agenda, Lighthizer has proven his ability to challenge decades of failed globalization policies and prioritize American workers and manufacturers. Tariffs are central to Trump's economic vision. The Treasury Department needs a leader who understands these tools—not someone beholden to Wall Street's obsession with global capital mobility.
Trump's economic strategy hinges on reviving tariffs as a dual-purpose tool: generating federal revenue and protecting U.S. industries. Historically, tariffs have been a cornerstone of America's economic development, dating back to the Tariff Act of 1789 and Alexander Hamilton's vision of protecting the nation's manufacturing base. Trump and Lighthizer share this understanding, seeing tariffs as vital to reshoring production, creating jobs, and expanding an industrial economy.
Lighthizer was a key architect of the Trump trade strategy. As U.S. Trade Representative, he implemented global tariffs on steel, aluminum, and solar products, and spearheaded the Section 301 tariffs on China. These measures strengthened American industries and laid the foundation for a bipartisan consensus on trade. The Biden administration, with Treasury Secretary Janet Yellen and U.S. Trade Representative Katherine Tai, kept these tariffs in place, acknowledging their importance in protecting U.S. supply chains and maintaining economic security. Where tariffs were removed, as was the case with European steal, quotas were put in their place in order to avoid an onslaught of imports.
Treasury plays a critical role in assessing the economic impact of tariffs and ensuring their implementation aligns with broader fiscal and economic goals. Yet historically, Treasury Secretaries have prioritized the interests of global finance over domestic production. Stephen Mnuchin, Trump's first-term Treasury Secretary, often clashed with Lighthizer's view, reflecting the longstanding tension between Wall Street's free-trade ideology and Main Street's need for fair competition.
Lighthizer at Treasury would break this mold. He embodies the new bipartisan consensus that prioritizes economic nationalism and industrial strength over the 1980s view of free trade. Unlike the other candidates, namely Scott Bessent and Howard Lutnick, Lighthizer is a true believer in tariffs and industrial policy to rebuild America's economic sovereignty.
Treasury leadership is critical to advancing Trump's vision of a golden age of American manufacturing. Tariffs are not just about protecting individual industries; they're about safeguarding America's entire manufacturing supply chain. From semiconductor plants incentivized by the CHIPS Act to automobile production threatened by foreign imports, tariffs are essential to securing these investments and ensuring they benefit American workers.
A Treasury Secretary like Lighthizer is best equipped to effectively communicate this agenda to global financial ministers and counterbalance the forces of globalization that have hollowed out America's industrial base.
Trump's call for a Treasury Secretary who prioritizes American industry, workers, and national security over Wall Street's financial interests is bold and necessary. Lighthizer is suited for this role, ensuring that the United States does not surrender its industrial capacity to the lowest bidder.
Whoever Trump may choose to lead Treasury, one thing is clear: The Lighthizer approach is the right path for America's economic future.
Kenneth Rapoza is a former WSJ reporter in Brazil. He covered China and other big emerging markets for Forbes from 2011 to 2023. He is currently an analyst at the Coalition for a Prosperous America.
The views expressed in this article are the writer's own.
