Trump picks billionaire CEO Howard Lutnick as Commerce Secretary

President-elect Donald Trump has named Howard Lutnick, CEO of investment bank Cantor Fitzgerald, as the US Commerce Secretary. The billionaire, who is a co-chair of Trump's transition team, would lead the administration's "tariff and trade agenda", Trump said. "Tariffs are an amazing tool for the president to use- we need to protect the American worker," Lutnick had earlier said.