President-elect Donald Trump announced Tuesday that he has chosen Howard Lutnick, CEO of Cantor Fitzgerald and the co-chair of the Trump transition, to be the next commerce secretary.
Trump announced his selection on Truth Social, and selected Lutnick over other rumored candidates including Linda McMahon, the other manager of the Trump transition. Lutnick is a billionaire and a longtime supporter of the president-elect.
“I am thrilled to announce that Howard Lutnick, Chairman & CEO of Cantor Fitzgerald, will join my Administration as the United States Secretary of Commerce. He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative,” Trump said in his statement posted to Truth Social. “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.”
Provided he is confirmed by the Senate, Lutnick will be taking over the post currently occupied by Commerce Secretary Gina Raimondo.
Lutnick rebuilt Cantor Fitzgerald after the firm lost hundreds of employees, including his brother, in the 9/11 attacks in New York City. In the statement announcing his selection of Lutnick, Trump also noted that Lutnick has raised and donated approximately $180 million to the families of 9/11 victims in the years following the worst terrorist attack in U.S. history.
Beyond his work at Cantor Fitzgerald, Lutnick also helped bring Rumble, a conservative-friendly video streaming platform, to the public market in 2022. Prior to being announced as Trump’s pick to helm the Commerce Department, Lutnick was also reportedly under consideration to run the Treasury Department.
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