Trump to appoint Lutnick as Commerce Secretary, sidelining Treasury bid

Donald Trump is expected to appoint Howard Lutnick as Commerce Secretary instead of Treasury Secretary, a position Lutnick had sought. This decision may create tension within Trump's inner circle, as Lutnick has reportedly annoyed Trump during the transition. Lutnick, currently serving as Trump’s transition co-chair, has received support from notable figures like Elon Musk. However, sources indicate that Trump is wary of Lutnick's ambitions and influence within the administration. With Lutnick out of the running for Treasury, hedge fund manager Scott Bessent is now seen as the leading candidate for that role. Lutnick's new position will involve advising Trump on economic policy, including tariff increases on foreign goods.