US President-elect Donald Trump has nominated Howard Lutnick, co-chair of his transition team, as commerce secretary. Lutnick, CEO of Cantor Fitzgerald, will play a key role in shaping trade policies and tariffs, with a focus on reducing reliance on China.

BulletsIn

• Trump selects Lutnick for commerce secretary, emphasizing tougher trade policies.
• Lutnick to lead tariff agenda and oversee US Trade Representative’s office.
• Advocates 60% tariff on Chinese goods, 10% on all imports.
• Key goals include boosting US semiconductor sector, reducing Asia dependence.
• Lutnick criticized loss of US manufacturing jobs and China’s role in fentanyl crisis.
• Previously tipped for Treasury Secretary but chosen for Commerce instead.
• Support from Elon Musk and others for pro-crypto and bold economic stance.
• Lutnick is CEO of Cantor Fitzgerald, BGC Group, and Newmark Group.
• Holds an economics degree from Haverford College.
• As co-chair of Trump’s transition team, has been key in administration hires.