Trump Picks Howard Lutnick For Commerce Secretary

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Posted on 11/19/2024 12:43:59 PM PST by mbrfl

President-elect Donald Trump announced Tuesday that he will nominate Howard Lutnick, the co-chair of his transition team, to be commerce secretary — saying Lutnick also would receive a major role in foreign trade policy.

Lutnick, the CEO of Cantor Fitzgerald, had been widely rumored as a contender for the more prestigious post of treasury secretary but appeared to have lost momentum in recent days to hedge fund manager Scott Bessent.

“I am thrilled to announce that Howard Lutnick, Chairman & CEO of Cantor Fitzgerald, will join my Administration as the United States Secretary of Commerce,” Trump, 78, said in a statement.

The Commerce Department’s building is only slightly farther from the White House than the Treasury’s — and Trump said that Lutnick will take on an outsized role in foreign trade, which typically is handled by the US Trade Representative’s office.

“[Lutnick] will lead our Tariff and Trade agenda, with additional responsibility for the Office of the United States Trade Representative,” Trump said.

“In his role as Co-Chair of the Trump-Vance Transition Team, Howard has created the most sophisticated process and system to assist us in creating the greatest Administration America has ever seen.”

(Excerpt) Read more at nypost.com ...

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1 posted on 11/19/2024 12:43:59 PM PST by mbrfl

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