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Trump picks Howard Lutnick for commerce secretary with extra trade role after Treasury bid
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November 20, 2024
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1:48Now PlayingPresident-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. NY Post Politics Reporter Diana Glebova shares this story.
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.
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