**Trump Nominates Howard Lutnick for Commerce Secretary**

In a significant move, President-elect Donald Trump has selected Howard Lutnick, CEO of Cantor Fitzgerald, as his nominee for Commerce Secretary, according to insiders familiar with the decision. Lutnick, a prominent Wall Street billionaire and close Trump ally, has played a crucial role in Trump’s transition team, focusing heavily on vetting candidates for top positions within the administration, with particular emphasis on loyalty and business acumen.

Lutnick, 63, initially considered for the Treasury Secretary role, saw his chances decline due to disagreements with other contenders, notably financier Scott Bessent. Despite not being Trump’s first announcement, Lutnick has remained a key figure in Trump’s circle, significantly contributing to his campaign both financially and strategically.

Notably, Lutnick’s reputation soared following the tragic attacks of September 11, 2001, which claimed the lives of 658 Cantor Fitzgerald employees, including Lutnick’s brother. He is credited with rebuilding the firm from this monumental loss. Though he lacks prior government experience, Lutnick’s potential appointment could bring vast business expertise to the public sector.

Should he be confirmed by the Senate, Lutnick's responsibilities will encompass various agencies under the Commerce Department, including those promoting job creation, economic growth, and overseeing the Census Bureau, National Oceanic and Atmospheric Administration, and U.S. Patent and Trademark Office. Moreover, he will oversee crucial trade agencies such as the International Trade Administration and the Bureau of Industry and Security, units key in implementing Trump’s aggressive trade policies, like the 2018 tariffs on steel and aluminum.

Lutnick has advocated for deregulation, expanding energy production, extending the 2017 tax cuts, and reducing corporate tax rates. Additionally, he has shown enthusiastic support for the cryptocurrency industry, aligning with Trump’s commitment to make the U.S. a global leader in crypto.

Known for endorsing Trump’s tariff strategies, Lutnick has defended them as valuable negotiation tools, arguing for targeted tariffs based on domestic production capabilities. His views have stirred concerns among his Wall Street peers but resonate with Trump’s economic agenda.

A longtime associate of Trump, Lutnick has journeyed with Cantor Fitzgerald since 1983, rising to the CEO position in 1991. His political contributions span both parties, though his prominent financial backing for Trump’s recent electoral bid marks his growing influence within Trump’s camp.

Lutnick cited the Oct. 7 Hamas attack on Israel as a pivotal moment that deepened his commitment to Trump, highlighting Trump’s clear stance on the issue. “Donald Trump is going to build the greatest team to ever walk into government, and we are going to balance our budget,” he declared at a Trump rally, signaling his integral role in shaping Trump’s vision for the future.