Howard Lutnick Potential Candidate for US Commerce Secretary

Howard Lutnick, the chairman and chief executive officer of Cantor Fitzgerald LP, has emerged as a likely candidate for the position of Secretary of Commerce in the United States. This information comes from a source familiar with the nomination process, as reported by CNN.

Previously, Lutnick had been engaged in a consideration for the role of Treasury Secretary, contending with hedge fund manager Scott Bessent. Following his unsuccessful bid, he is now expected to be nominated for the Commerce Secretary position.

Lutnick has played a pivotal role in the presidential transition team led by Donald Trump. Appointed as a co-chair in August, Lutnick has been instrumental in the vetting and advising process for Trump’s Cabinet nominees.

In a notable moment at Trump’s campaign rally held at Madison Square Garden, Lutnick expressed his economic perspectives, arguing that the United States enjoyed its greatest prosperity in the early 20th century when there was «no income tax and all we had was tariffs.» Lutnick, aged 63, has been a proponent of increasing tariffs, aligning with Trump’s campaign proposal for significant tariffs, including a 60% tariff on products from China and a 10% tariff on other foreign goods.

Lutnick has faced criticism for remarks made during an interview with CNN’s Kaitlan Collins on «The Source.» In the interview, he defended Robert F. Kennedy Jr.’s controversial and unsubstantiated claims that vaccines are linked to increased autism rates in children. Kennedy has been announced by Trump as his choice for the Secretary of Health and Human Services.

Lutnick is well-known for his leadership during the aftermath of the September 11, 2001, terrorist attacks, which struck Cantor Fitzgerald’s headquarters situated in the North Tower of the World Trade Center. The tragedy resulted in the loss of several hundred employees, including Lutnick’s brother. Subsequently, Lutnick established a relief fund for the families affected by the catastrophe and currently serves on the board of the National September 11 Memorial and Museum.

This is a developing story and further updates are anticipated as more details become available.