Trump nominates Howard Lutnick as Secretary of Commerce

According to the Wall Street Journal, Trump said on the 19th local time that he will nominate Howard Lutnick, a veteran Wall Street financier, to be the commerce secretary of the next US administration, elevating one of his most outspoken supporters in the financial world to a key position. In addition, Lutnick will directly lead the office of the US Trade Representative. Lutnick, the CEO of the financial services firm Cantor Fitzgerald, has become a close ally of Trump in recent months and has been a top contender for Treasury secretary. If approved by the Senate, Lutnick will be responsible for expanding US economic growth and promoting domestic industries. He may also help maintain and expand the government's relationship with the business community. The Commerce Department and other agencies will play a central role in implementing the president-elect's proposal to impose tariffs on U.S. imports.