President-elect Trump is expected to nominate Howard Lutnick to serve as Commerce secretary, a source familiar told The Hill.
Lutnick is the chair and CEO of Cantor Fitzgerald and is also currently serving as co-chair of the Trump transition. He has notably publicly embraced Trump’s tariff plans, which will be a major part of the job leading Commerce.
The CEO was considered a front-runner to serve as Trump’s Treasury secretary along with Scott Bessent, who served as economic adviser on the Trump campaign.
Lutnick beat out Linda McMahon for the role leading Commerce. She was considered a front runner and previously led the Small Business Administration during Trump’s first term. She is also a co-chair of his transition effort.
Trump expanded his search to lead Treasury as the jockeying over who will fill the key economic role recently spilled into public view. Billionaire tech mogul Elon Musk threw his support behind Lutnick to lead Treasury over the weekend over Bessent.
Lutnick is a longtime friend to Trump and is a prominent supporter of cryptocurrencies. He oversaw Cantor Fitzgerald’s response to 9/11, when more than 600 of Cantor Fitzgerald’s employees were killed at the World Trade Center.
