President-Elect Donald Trump is turning to a Wall Street veteran and key campaign supporter to join his cabinet as a top business advisor.
Trump confirmed Tuesday that Cantor Fitzgerald CEO Howard Lutnick is his choice for Commerce Secretary. Lutnick has been serving as the co-chair of the team managing Trump’s transition to the White House. In the Commerce Secretary role, Lutnick would represent U.S. businesses on the president’s cabinet while also promoting job growth and economic development.
The Commerce Department‘s oversight includes agencies and organizations that help promote U.S. business and the economy, including the Bureau of Economic Analysis, the Census Bureau, the National Oceanic and Atmospheric Administration and the Patent and Trademark Office.
Tariffs are one issue on which Trump will likely seek support from Lutnick.
As Commerce Secretary, Lutnick would oversee the International Trade Administration.
In a recent interview with podcaster Anthony Pompliano, Lutnick said tariffs could replace income tax revenue, …