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Cantor Fitzgerald CEO selected to lead Commerce Department

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President-elect Donald Trump said he is nominating billionaire financial services executive Howard Lutnick as head of the Commerce Department.

The CEO of Cantor Fitzgerald, Lutnick has been a key transition adviser for Trump.

"He will lead our tariff and trade agenda, with additional direct responsibility for the Office of the United States Trade Representative," Trump said in a statement.

Read more from NBC News.

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