Trump to Appoint Howard Lutnick as Commerce Head

Donald Trump to appoint Howard Lutnick, a prominent Wall Street financier, to head the U.S. Commerce Department. This would elevate Lutnick, the CEO of Cantor Fitzgerald, to a key role overseeing the economic agenda of the incoming administration. The decision is expected to cement his position as a pivotal figure in Trump’s economic strategy.

Lutnick’s Growing Influence in Trump’s Circle

Lutnick has become a close ally of Trump in recent years, serving as co-chair of the president-elect’s transition team. He has been a familiar presence at Mar-a-Lago, Trump’s Florida estate, where he has helped review candidates for administration roles. Despite initial consideration for Treasury Secretary, Lutnick now emerges as the frontrunner for the Commerce Department role.

Support and Controversies Amid Financial Sector Tensions

While Lutnick gained strong backing from high-profile figures, including Elon Musk, his path has faced controversy. Tensions with investor Scott Bessent led to Lutnick withdrawing from the Treasury Secretary race. Despite this, his staunch defense of Trump’s economic policies has made him a key figure. This is especially true in relation to tariffs and trade.

Commerce Department’s Role Under Lutnick

If confirmed by the Senate, Lutnick would oversee the Commerce Department, promoting U.S. economic growth and strengthening industries. He would likely help implement Trump’s proposed tariffs on imports. Lutnick would maintain close ties with the business community. This would ensure that Trump’s economic agenda is effectively carried out.

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Lutnick’s Political Contributions and Advocacy for Trump

Lutnick has been an outspoken supporter of Trump, frequently defending his economic vision. Additionally, he is known for appearances on cable news. Moreover, Lutnick has praised Trump’s focus on protecting the American worker. His longstanding relationship with Trump dates back decades. Consequently, Lutnick has grown increasingly aligned with the president in recent years.

Trump Expands Treasury Secretary Search

In addition to the Commerce Department nomination, Trump plans to finalize his choice for Treasury Secretary soon. A growing list of contenders includes Senator Bill Hagerty and former Federal Reserve governor Kevin Warsh. Trump has broadened his search, seeking the right candidate. However, Lutnick’s supporters’ lobbying efforts have sparked frustration within the Trump camp.

Lutnick’s Resilience Amid Personal and Professional Challenges

Beyond his professional career, Lutnick’s resilience stands out. After the September 11 attacks, he rebuilt his company. Despite the loss of 658 Cantor Fitzgerald employees, Lutnick remained committed. Consequently, his perseverance through personal and professional hardship has cemented his reputation as a capable leader.

The Ongoing Transition and Cabinet Decisions

As Trump’s transition process accelerates, Lutnick plays a central role in finalizing cabinet appointments. His ongoing influence remains strong. Alongside other transition team members like Linda McMahon and Sen. JD Vance, Lutnick is crucial. This suggests he will be a key player in shaping the future direction of the administration.

Trump to appoint Howard Lutnick, a prominent Wall Street financier, appointment strengthens his role, positioning him as a key player in Trump’s economic strategy, according to wsj subscription.