{"id":2371454,"date":"2024-11-20T18:53:55","date_gmt":"2024-11-20T23:53:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/what-to-know-about-howard-lutnick-trumps-pick-for-commerce-secretary-washington-examiner\/"},"modified":"2024-11-20T18:59:42","modified_gmt":"2024-11-20T23:59:42","slug":"what-to-know-about-howard-lutnick-trumps-pick-for-commerce-secretary-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/what-to-know-about-howard-lutnick-trumps-pick-for-commerce-secretary-washington-examiner\/","title":{"rendered":"What to know about Howard Lutnick, Trump\u2019s pick for commerce secretary &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhat-to-know-about-howard-lutnick-trumps-pick-for-commerce-secretary-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2371454&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Howard Lutnick has been nominated \u200bby Donald Trump to serve as the next Secretary of Commerce, transitioning from his role as CEO\u200d of Cantor Fitzgerald\u200b and co-chairman \u2062of Trump\u2019s transition team. \u2062The Commerce Secretary&#8217;s responsibilities include fostering U.S. business interests internationally, managing export policies, and overseeing economic data release. Lutnick, known for his resilience following the tragic events of 9\/11, when he lost his brother in the attacks, has a background in finance and investment, also \u2064serving as chairman of BGC Group and executive chairman of Newmark Group.<\/p>\n<p>Lutnick has \u200cdemonstrated loyalty to Trump, contributing over $6 million to support his campaigns, and supports Trump\u2019s\u200b tariff policies aimed at protecting American workers. He also\u2062 advocates for cryptocurrency, linking his interests to the digital currency landscape, which aligns with Trump&#8217;s favorable\u2062 stance\u200d toward cryptocurrencies. However, Lutnick&#8217;s appointment has sparked concerns regarding \u200cpotential conflicts of interest, due \u2064to his substantial business ties that might be impacted by\u2063 government regulations. The transition team is reportedly addressing \u2064these potential conflicts, as incoming cabinet members are often advised to divest from personal interests that \u200dcould interfere with their official\u200d responsibilities.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">What to know about Howard Lutnick, Trump&rsquo;s pick for commerce secretary<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1885799\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Howard Lutnick is set to move from CEO of Wall Street finance firm Cantor Fitzgerald and co-chairman of President-elect <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Donald Trump<\/a>&lsquo;s <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/trump-transition\/\" target=\"_blank\" rel=\"noopener\" title=\"\">transition team<\/a> to the next commerce secretary.<\/p>\n<div class=\"article-paywall\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Howard Lutnick speaks before former President Donald Trump, Republican presidential nominee, at a campaign rally at Madison Square Garden, Sunday, Oct. 27, 2024, in New York. (AP Photo\/Evan Vucci)<\/figcaption><\/figure>\n<p>The commerce secretary is responsible for defending U.S. business interests worldwide, overseeing export restrictions, funding new computer chip factories, and releasing economic data. When Trump announced Lutnick as his pick, he also <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/113511235978420631\" target=\"_blank\" rel=\"noopener\" title=\"\">said<\/a>, &ldquo;He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.&rdquo;<\/p>\n<p>Here is what you need to know about the man who could have a heavy hand in the future of the country&rsquo;s business.<\/p>\n<h2 class=\"wp-block-heading\">Wall Street experience<\/h2>\n<p>After Lutnick finished school at Haverford College in 1983, he joined Cantor Fitzgerald. He flew through the ranks, landing a position as the company&rsquo;s president and CEO in 1991. By 1996, the firm had named Lutnick chairman of the board.<\/p>\n<p>Cantor Fitzgerald was located in the World Trade Center in New York City, and almost 700 employees died in the Sept. 11 attacks. Gary Lutnick, Howard Lutnick&rsquo;s brother, was killed in the terrorist attack. Howard Lutnick rebuilt the investment bank, donating $180 million to relief efforts.<\/p>\n<p>Trump&rsquo;s announcement of the nomination mentioned Howard Lutnick&rsquo;s loss. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mike-kelly-same-people-criticizing-trump-peddled-russia-collusion-hoax\/\" title=\"Mike Kelly: Same People Criticizing Trump Peddled Russia Collusion Hoax\">president-elect<\/a> described him as &ldquo;the embodiment of resilience in the face of unspeakable tragedy.&rdquo;<\/p>\n<p>Howard Lutnick is also the chairman and chief executive of investment firm BGC Group and executive chairman of Newmark Group, a <a href=\"https:\/\/amzn.to\/3YuVZYV\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manhattan-sees-record-high-office-vacancy-rate-as-businesses-flee\/\" title=\"Manhattan Sees Record High Office Vacancy Rate As Businesses Flee\">commercial real estate<\/a> service<\/a> and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-asia-czars-holdings-may-present-conflict-of-interest\/\" title=\"Biden Asia Czar\u2019s Holdings May Present Conflict of Interest\">advisory firm<\/a>. <span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">He has also said he managed financial holdings for the&nbsp;<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/cryptocurrency\/\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a>&nbsp;company<\/span> Tether.<\/p>\n<h2 class=\"wp-block-heading\">Loyalty to Trump<\/h2>\n<p><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">The Wall Street billionaire once appeared on Trump&rsquo;s NBC reality show,&nbsp;<em>The Apprentice<\/em><\/span>,&nbsp;and has donated generously to Trump&rsquo;s campaigns over the years. Howard Lutnick donated more than $6 million to super PACs in support of Trump&rsquo;s reelection, <a href=\"https:\/\/www.fec.gov\/data\/receipts\/individual-contributions\/?contributor_name=lutnick%2C+howard&amp;two_year_transaction_period=2024&amp;min_date=01%2F01%2F2023&amp;max_date=12%2F31%2F2024\" target=\"_blank\" rel=\"noopener\" title=\"\">according<\/a> to federal filings.<\/p>\n<p>The CEO has also enthusiastically supported many of Trump&rsquo;s proposed policies. In a September CNBC interview, he praised Trump&rsquo;s tariff plan, saying, &ldquo;Tariffs are an amazing tool for the president to use &mdash; we need to protect the American worker.&rdquo;<\/p>\n<p>Howard Lutnick is also a strong supporter of cryptocurrency and has financial ties to the cryptocurrency company Tether. Trump has taken a favorable stance toward the digital currency, announcing in May that his campaign would accept cryptocurrency donations in an effort to build a &ldquo;crypto army&rdquo; before Election Day.<\/p>\n<p>On Nov. 13, Bitcoin saw its <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/presidential\/3228672\/republican-attitudes-economy-boost-trump-return\/\" target=\"_blank\" rel=\"noopener\" title=\"\">best day on record<\/a>, surpassing $90,000 as investors got excited about Trump&rsquo;s support for cryptocurrency.<\/p>\n<p>&ldquo;Bitcoin is like gold and should be free trade everywhere in the world,&rdquo; Howard Lutnick said at the Bitcoin 2024 conference in July. &ldquo;And as the largest wholesaler in the world, we&rsquo;re going to do everything in our power to make it so. Bitcoin should trade the same as gold everywhere in the world without exception and without limitation.&rdquo;<\/p>\n<h2 class=\"wp-block-heading\">Concerns over conflicts of interest<\/h2>\n<p>Trump&rsquo;s appointment of Howard Lutnick as commerce secretary has raised some concerns about conflicts of interest. Howard Lutnick&rsquo;s business interests, including Cantor Fitzgerald and Tether, involve sectors such as commercial real estate and crypto, which could be affected by a wide range of government regulations.<\/p>\n<p>Lutnick has been <a href=\"https:\/\/www.politico.com\/news\/2024\/10\/23\/howard-lutnick-trump-transition-scrutiny-00184985\" target=\"_blank\" rel=\"noopener\" title=\"\">accused<\/a> of combining his personal interests with the administration&rsquo;s, and the Office of Government Ethics will often instruct incoming Cabinet officials to sell or divest themselves of assets that could even spark the appearance of a conflict of interest.<\/p>\n<p>The Trump transition team has also released a <a href=\"https:\/\/static01.nyt.com\/newsgraphics\/documenttools\/217e53b5af610019\/a1ad8a5d-full.pdf\" target=\"_blank\" rel=\"noopener\" title=\"\">code of ethical conduct<\/a>, calling for members to abstain from involvement in &ldquo;any particular Transition matter&rdquo; that &ldquo;may directly conflict with a financial interest&rdquo; of theirs.<\/p>\n<h2 class=\"wp-block-heading\">Remaining Cabinet positions<\/h2>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\" target=\"_blank\" rel=\"noopener\" title=\"\"><\/a><\/strong><\/p>\n<p>Lutnick was in the running for treasury secretary, much to Tesla CEO <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/elon-musk\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Elon Musk<\/a>&lsquo;s preference. It was a shock that he was selected for the commerce position as Linda McMahon was thought to be in the running for the role. McMahon was announced as the <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3235892\/linda-mcmahon-what-to-know-trump-pick-education-secretary\/\" target=\"_blank\" rel=\"noopener\" title=\"\">education secretary<\/a> instead, leaving Lutnick to be picked for commerce secretary.<\/p>\n<p>With the treasury secretary role still open, many candidates are still contending for the role. Kevin Warsh, former Federal Reserve governor, Marc Rowan, CEO of Apollo Global Management, and Scott Bessent, a financier and Trump economic adviser, are all seeking the Cabinet seat.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1885799\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1885799\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Howard Lutnick, CEO of Cantor Fitzgerald, is Trump&#8217;s commerce secretary pick<\/p>\n","protected":false},"author":3427,"featured_media":2371455,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/11\/AP24302025310536.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[33371,44850,45157,3634,32076],"class_list":["post-2371454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-business-news","tag-commerce-secretary","tag-howard-lutnick","tag-trump","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/11\/AP24302025310536.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2371454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3427"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2371454"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2371454\/revisions"}],"predecessor-version":[{"id":2371463,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2371454\/revisions\/2371463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2371455"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2371454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2371454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2371454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}