Trump picks Lutnick to be Commerce secretary

Donald Trump announced Cantor Fitzgerald CEO Howard Lutnick as his pick for secretary of the Department of Commerce on November 19, selecting his transition co-chair for a key role in an administration that the president-elect has promised will enact sweeping tariffs, Report informs via CNN.

“He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative,” Trump said in a statement.

Lutnick, who has served as the co-chair of Trump’s presidential transition team since August, had been in a battle with hedge fund manager Scott Bessent over the role of Treasury secretary after throwing his own name into the mix.