President-elect Donald Trump on Nov. 16 nominated billionaire Howard Lutnick as the commerce secretary in his incoming administration.
Trump said in a statement that Lutnick would “lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.”
Lutnick, 63, is the co-chair of the Trump-Vance transition team. He had been one of the leading contenders to succeed Janet Yellen at the helm of the U.S. Department of Treasury.
As Trump expanded his search for treasury secretary, former Federal Reserve Gov. Kevin Warsh quickly emerged as the favorite, topping Wall Street veteran Scott Bessent.
Lutnick, the chairman and CEO of investment giant Cantor Fitzgerald, received the endorsement for the Treasury post from Trump’s inner circle, including billionaire Elon Musk….