President-elect Donald Trump announced on Tuesday that he has nominated billionaire businessman Howard Lutnick to be the next Secretary of the Department of Commerce. Lutnick, the former CEO of Cantor Fitzgerald and a key figure in Trump’s presidential transition team, will now face Senate confirmation for the high-profile role.
In a statement, Trump praised Lutnick as “a dynamic force on Wall Street,” highlighting his success in business and his contributions to the transition team’s personnel efforts. Trump also credited Lutnick for building a "sophisticated process and system" for staffing the incoming administration, underlining the nominee's organizational and leadership skills.
The nomination came as a surprise to many, as former Small Business Administrator Linda McMahon and former U.S. Trade Representative Robert Lighthizer were both considered stronger contenders for the post. McMahon served in the Small Business Administration during Trump's first term, while Lighthizer played a central role in shaping the administration's trade policy, especially during the ongoing trade war with China.
If confirmed by the Senate, Lutnick will lead the Department of Commerce, which oversees thirteen different bureaus, including the Census Bureau, the National Oceanic and Atmospheric Administration (NOAA), and the U.S. Patent and Trademark Office. The department plays a vital role in supporting American businesses, fostering economic growth, and negotiating trade agreements with foreign nations.
Lutnick’s nomination signals a potential shift in priorities for the Department of Commerce. Known for his advocacy of tariffs and protectionist policies, Lutnick made headlines during the 2020 election campaign, where he spoke at a Trump rally at Madison Square Garden. At the rally, Lutnick claimed that America’s greatest period of prosperity came in the early 20th century, before the introduction of income tax and with tariffs in place. "We had so much money that we had the greatest businessmen of America get together to try to figure out how to spend it," he said at the time.
Lutnick, 63, is also known for his philanthropic work, particularly in the aftermath of the September 11 attacks. As CEO of Cantor Fitzgerald, Lutnick lost hundreds of employees when the company’s headquarters on the North Tower of the World Trade Center was destroyed in the terrorist attacks. In response, Lutnick established a family relief fund to assist the victims’ families, many of whom were also his colleagues. He has remained active in the 9/11 community, serving on the board of the National September 11 Memorial & Museum.
The nomination of Lutnick is expected to be closely scrutinized by the Senate, particularly as his views on tariffs and trade policy align closely with Trump's "America First" agenda. However, Lutnick's long-standing business acumen and commitment to rebuilding after 9/11 may bolster his case for confirmation.
