President-elect Donald Trump has selected Cantor Fitzgerald CEO Howard Lutnick as his nominee for Commerce secretary. Lutnick, who has been co-chairing Trump's transition effort, will be tasked with leading the Tariff and Trade agenda, along with overseeing the Office of the United States Trade Representative.
During his campaign, Trump had promised to implement significant tariffs upon taking office. Lutnick's appointment comes after a period of contention with hedge fund manager Scott Bessent, who was also vying for the role of Treasury secretary.
Lutnick's nomination for Commerce secretary means he prevailed over other contenders such as Robert Lighthizer, who served as the US trade representative during Trump's first term, and Linda McMahon, the former administrator of the Small Business Administration from 2017 to 2019.
