Trump taps Lutnick to be Commerce Secretary

President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.

Lutnick, co-chair of the Trump-Vance Transition Team, is currently chairman and CEO of Wall Street financial services firm Cantor Fitzgerald, which he joined in 1983. He became president and CEO in 1991, and five years later was named chairman.

“He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the US Trade Representative,” Trump said in a post on Truth Social on Tuesday.

Lutnick’s appointment ends speculation that Robert Lighthizer, who served as US Trade Representative (USTR) in Trump’s first term, might be named Commerce Secretary in his second.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

Latest in Market Data

US and Canadian rig counts log increases

HR market looks for deals as prices increase

HR Futures: Movement in the market

Steelmaking raw material prices stabilize through November

Plate sources say Q1 demand spike is imminent