Howard Lutnick: Trump's choice for commerce secretary is a Musk pick, avid crypto fan and big tariff backer
Donald Trump has chosen Howard Lutnick to be the next Commerce Secretary. Lutnick heads the brokerage and investment bank Cantor Fitzgerald.
The Commerce Department oversees a variety of areas including computer chip factory funding, trade restrictions, economic data, and weather monitoring. The position also requires strong ties to business leaders.
Lutnick served as co-chair of Trump's transition team alongside Linda McMahon. He also appeared on Trump's show «The Apprentice.»
Lutnick is Musk's pick
Elon Musk and others close to Donald Trump urged the former president to choose Howard Lutnick over Scott Bessent for Treasury Secretary. Bessent was initially the leading candidate. Musk posted online that “Bessent is a business-as-usual choice, whereas @howardlutnick will actually enact change.”
The selection process for Treasury Secretary has drawn significant attention. Financial experts are concerned that an unconventional choice could negatively impact the stock market, which Trump monitors closely. Trump has not yet filled the position.
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