Financier Howard Lutnick has been officially appointed as the Commerce Secretary by the Donald Trump. Lutnick’s extensive experience in the financial sector makes him a qualified candidate for this crucial role. With this appointment, the government aims to benefit from Lutnick’s expertise in promoting economic growth and fostering international trade relations. Lutnick’s selection as Commerce Secretary reflects the administration’s commitment to appointing individuals with a deep understanding of the economic landscape. As Commerce Secretary, Lutnick will play a pivotal role in shaping and implementing policies to drive economic development and strengthen the nation’s commercial endeavors.

In addition, Trump has not yet decided on the highly anticipated appointment to the position of Treasury Secretary, which is even more  prominent, and Lutnick had also  been considered for it. The position is said to carry extensive power over matters like tax and economic policy.

Further, as far as the position of Commerce Secretary is concerned, the controversy surrounding the selection has become public knowledge. Scott Bessent was one of the other contenders, but entrepreneur Elon Musk, the one to lead the Department of Government Efficiency along with Vivek Ramaswamy attacked him over the  weekend  for being  too  “business as usual” and endorsed Lutnick instead.

In his statement, Trump lauded Lutnick for his achievements during the transition, describing him as a “dynamic force on Wall Street for more than 30 years” and praising his  efforts  to  staff the new government. Even though it is not formally part of the Commerce Department, he indicated that Lutnick will  also have particular  responsibility  for  the US Trade Representative’s office.

Lutnick thanked Trump on X

Thank you, President Trump for your trust in me to help Make America Great Again. As the next Secretary of Commerce, I will join the best administration the US has ever seen and unleash our full economic potential. pic.twitter.com/CTr0sdH6nt

— Howard Lutnick (@howardlutnick) November 19, 2024

Check the previous post on Howard Lutnick, the expected pick for Commerce Secretary by 2024 President elect Trump