### President-Elect Trump Nominates Howard Lutnick for Commerce Secretary

President-elect Donald Trump has selected Howard Lutnick, head of Cantor Fitzgerald and cryptocurrency supporter, as his nominee for commerce secretary. If confirmed by the Senate, Lutnick would oversee a large and diverse Cabinet department involved in funding new computer chip factories, trade regulation, economic data release, and weather monitoring. The role's connections to CEOs and the business community are vital.

Lutnick, a key figure in Trump's transition team alongside Linda McMahon, the former leader of Trump's Small Business Administration, has been part of Trump’s inner circle for some time. His potential nomination comes after calls from influential figures like Elon Musk to replace previous treasury secretary front-runner Scott Bessent with Lutnick. Musk argued that Lutnick would bring real change, contrasting Bessent's "business-as-usual" approach.

Lutnick’s robust support for tariffs aligns with Trump’s campaign proposals, which included a 60% tariff on Chinese goods and a 20% tariff on all other imports. This tactic, aimed at both negotiating better trade terms and generating revenue for tax cuts, has garnered criticism from mainstream economists but strong backing from Lutnick. In a September interview on CNBC, he praised tariffs as "an amazing tool for the president to use" to protect American workers.

Tragically, Lutnick's brother Gary and 658 of 960 Cantor Fitzgerald employees were casualties of the Sept. 11, 2001, attack on the World Trade Center, a loss that saw the firm lose two-thirds of its workforce. Lutnick has since played an active role in memorializing 9/11 victims as a board member of the National September 11 Memorial & Museum and the Partnership for New York City.

An ardent proponent of cryptocurrency advancements, Lutnick has championed the digital currency Tether and Bitcoin, advocating for global free trade of Bitcoin similar to gold. Trump has also shown a favorable stance toward cryptocurrencies, incorporating them into his campaign fundraising and even launching a cryptocurrency platform, World Liberty Financial, with his family.

This high-profile nomination highlights the ongoing influence of key business figures in Trump's circle and sets the stage for Lutnick's potential impact on U.S. commerce policy and international trade.