Howard Lutnick Commerce Secretary/ Trump Cabinet picks/ Cantor Fitzgerald CEO/ U.S. tariffs policy/ Trump administration 2024/ Newslooks/ PALM BEACH/ Fla./ J. Mansour/ Morning Edition/ President-elect Donald Trump is expected to nominate Cantor Fitzgerald CEO Howard Lutnick as secretary of Commerce. Lutnick, known for his leadership after 9/11 and strong support for tariffs, has been a key figure in Trump’s transition team.
Key Points About Howard Lutnick’s Expected Nomination as Commerce Secretary
- Role in Transition Team: Lutnick served as co-chair of Trump’s presidential transition team, advising on Cabinet appointments and policy strategies.
- Tariff Advocate: He supports higher tariffs, aligning with Trump’s trade policies, including proposed 60% tariffs on Chinese goods.
- Leadership After 9/11: As CEO of Cantor Fitzgerald, Lutnick led the company after it lost nearly 700 employees in the September 11 attacks, including his brother.
- Philanthropic Efforts: Lutnick established a relief fund for 9/11 victims’ families and remains active as a board member of the National September 11 Memorial and Museum.
- Policy Alignment: He shares Trump’s economic philosophy, emphasizing “America First” trade and economic growth initiatives.
- Controversial Remarks: Lutnick defended Robert F. Kennedy Jr.’s disputed views on vaccine safety, sparking criticism.
- Competition for Treasury Role: Initially a contender for Treasury secretary, Lutnick is now poised to lead the Commerce Department.
- Commerce Department’s Portfolio: If confirmed, Lutnick would oversee U.S. trade policy, economic growth initiatives, and business advocacy.
- Symbol of Trump’s Private-Sector Focus: His nomination reinforces Trump’s emphasis on private-sector leadership in government roles.
- Next Steps: Confirmation hearings will determine Lutnick’s appointment to the Commerce Department, critical for advancing Trump’s trade agenda.
Trump Expected to Nominate Howard Lutnick as Commerce Secretary
Deep Look:
President-elect Donald Trump is likely to nominate Howard Lutnick, CEO of financial services firm Cantor Fitzgerald, as secretary of Commerce, according to a source familiar with the transition process. The nomination would add another prominent business leader to Trump’s Cabinet, aligning with his promise to bring private-sector expertise to his administration.
Role in Trump’s Transition
Lutnick, 63, has been a significant figure in Trump’s transition team since August, serving as co-chair. In this role, he has helped vet and advise the president-elect on Cabinet nominations.
During Trump’s campaign rally at Madison Square Garden last month, Lutnick echoed Trump’s stance on tariffs, highlighting his belief in their economic benefits. “The U.S. was most prosperous when we had no income tax, only tariffs,” Lutnick said, referencing the early 1900s. Trump has pledged to impose steep tariffs, including 60% on goods from China and 10% on other imports, to protect American jobs and industries.
Lutnick’s Background
Lutnick is best known for his leadership of Cantor Fitzgerald after the firm suffered devastating losses during the September 11, 2001, terrorist attacks. Cantor’s headquarters were located on the top floors of the North Tower, and the company lost nearly 700 employees, including Lutnick’s brother.
In the wake of the tragedy, Lutnick created a relief fund for the families of those lost and remains a board member of the National September 11 Memorial and Museum. His leadership during that crisis earned him widespread praise and recognition.
Policy Views and Controversies
A vocal proponent of higher tariffs, Lutnick’s economic philosophy aligns closely with Trump’s “America First” trade policies. However, his recent comments defending Robert F. Kennedy Jr.’s unproven views linking vaccines to autism sparked criticism. Speaking on CNN’s “The Source” with Kaitlan Collins, Lutnick supported Kennedy’s controversial stance, which has drawn scrutiny from health experts.
Kennedy, who Trump recently nominated as Health and Human Services secretary, has been a polarizing figure for his anti-vaccine rhetoric. Lutnick’s remarks have raised questions about the influence of unconventional viewpoints in Trump’s Cabinet.
Rivalry for Treasury Role
Lutnick was initially in the running for Treasury secretary, competing with hedge fund manager Scott Bessent for the position. However, the Treasury post appears to have gone to another candidate, clearing the path for Lutnick to lead the Commerce Department.
Next Steps
If confirmed, Lutnick will oversee a vast portfolio that includes trade policy, economic growth, and support for American businesses. His nomination is expected to reinforce Trump’s focus on reshaping U.S. trade relations and boosting domestic manufacturing.
