US President-elect, Donald Trump has appointed Cantor Fitzgerald CEO Howard Lutnick as his nominee for secretary of the Department of Commerce, an announcement made on Tuesday.
Lutnick, who has co-led Trump’s presidential transition team since August, was previously a contender for the Treasury secretary position, competing against hedge fund manager Scott Bessent after putting himself forward for the role.
In being selected for Commerce, Lutnick edged out Robert Lighthizer, the former US Trade Representative under Trump, and Linda McMahon, who headed the Small Business Administration from 2017 to 2019. Both were informed within the past 24 hours that Lutnick had secured the appointment.
The decision caught many in Trump’s inner circle off guard, as McMahon had been the presumed favourite. Last week, Lighthizer appeared closer to being appointed. However, amid deliberations over the Treasury position, Trump chose to elevate his transition co-chair to the Commerce post.
Lutnick and McMahon have jointly managed the transition team over recent months, with Lutnick focusing on personnel decisions, such as vetting and advising Trump on Cabinet appointments, while McMahon concentrated on policy development.
McMahon was reportedly frustrated by Trump’s delay in naming her to the Commerce position. When it became clear that Lighthizer was under consideration and that she might instead be offered an ambassadorial post, she was abruptly informed that Lutnick had been given the Commerce role.
The Commerce secretary is responsible for promoting American businesses and often serves as an intermediary with foreign governments to negotiate trade agreements and attract global investments. The department oversees 13 agencies, including the Census Bureau, the National Oceanic and Atmospheric Administration (NOAA), and the Patent and Trademark Office.
Project 2025, a contentious plan for restructuring the federal government — which Trump distanced himself from during the campaign despite links to its authors — recommended significant changes to NOAA, suggesting it be “broken up and downsized” and labelling the organization as part of the “climate change alarm industry.”
The Commerce secretary frequently works in tandem with other Cabinet members on economic policy. During Trump’s first administration, Commerce Secretary Wilbur Ross was deeply involved in the trade conflict with China and a strong advocate for raising tariffs.
Speaking at Trump’s campaign rally at Madison Square Garden last month, Lutnick argued that the United States experienced its greatest economic success in the early 1900s, saying, “There was no income tax, and all we had was tariffs.” He continued, “We had so much money that we had the greatest businessmen of America get together to try to figure out how to spend it.” At 63, Lutnick has been a steadfast supporter of increasing tariffs. As a candidate, Trump pledged to introduce 60% tariffs on Chinese imports and 10% tariffs on goods from other nations.
Lutnick has faced backlash for comments he made during an appearance on CNN’s “The Source,” where he defended Robert F. Kennedy Jr.’s controversial claim that vaccines contribute to rising autism rates in children. Trump recently named Kennedy as his nominee for Health and Human Services secretary.
After the September 11, 2001, terrorist attacks, which devastated Cantor Fitzgerald’s offices located on the upper floors of the North Tower and claimed hundreds of employees’ lives, including Lutnick’s brother, Lutnick established a fund to support the families of victims. He also serves on the board of the National September 11 Memorial and Museum.
(CNN)
ALSO READ FROM NIGERIAN TRIBUNE
Trump appoints Sean Duffy as transportation secretary
Get real-time news updates from Tribune Online! Follow us on WhatsApp for breaking news, exclusive stories and interviews, and much more.
Join our WhatsApp Channel now