Trump nominates Howard Lutnick as commerce secretary

By Eric Revell , Paul Steinhauser  | Fox Business

President-elect Donald Trump on Tuesday nominated Cantor Fitzgerald CEO Howard Lutnick to serve as commerce secretary.

Lutnick, 63, has served as the co-chair of Trump’s transition team and was a key fundraiser for Trump’s 2020 and 2024 campaigns. Billionaire and Trump backer Elon Musk endorsed Lutnick for Treasury secretary. 

A source familiar with the selection process said that it’s a free for all for Treasury secretary and that there’s a mad dash to find someone pro-tariff to lead the Treasury with Lutnick being tapped to lead the Commerce Department. They added that Lutnick was offered an ambassadorship but declined that offer.

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