By South China Morning Post | Created at 2024-11-19 20:08:45 | Updated at 2024-11-19 23:08:01
3 hours ago
US president-elect Donald Trump has named Howard Lutnick, a Wall Street CEO, as his choice for commerce secretary, a role promoting American businesses and industries that could influence the trajectory of Sino-American relations.
In announcing the nomination, Trump said Lutnick would “lead our tariff and trade agenda, with additional direct responsibility for the Office of United States Trade Representative”. It was not immediately clear whether Lutnick would lead USTR.
Lutnick, CEO of the financial services company Cantor Fitzgerald, had previously been reported as a top contender for the role of treasury secretary, mentioned alongside hedge-fund manager Scott Bessent.
As Trump’s pick, Lutnick surpassed others thought to be considered for Commerce in what is the new administration’s first major economic position to be filled since the Republican former president won the US election on November 5.
Among those said to have been in contention for Commerce chief were Robert Lighthizer, the US trade representative during Trump’s first term, and Linda McMahon, a former chief of the US Small Business Administration.
Well-known on Wall Street for his nearly 30-year career at Cantor Fitzgerald, Lutnick is a co-chair of Trump’s transition team.
