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Lutnick’s Rare Earth Deal Under Scrutiny | US News
A $1.6 billion federal deal to USA Rare Earth is sparking controversy over Commerce Secretary Howard Lutnick’s past ties to Cantor Fitzgerald, with lawmakers accusing him of steering the investment for personal benefit. Lutnick and the Commerce Department insist the award was fully competitive and that Lutnick followed all ethics rules, including stepping away from any potential conflicts. Cantor Fitzgerald denies any involvement in the deal, despite a long-standing business relationship. Lutnick explained in a hearing he met USA Rare Earth executives through a banker, emphasizing the…
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