Trump names Rutnik transition chairman to commerce secretary

U.S. President-elect Trump has named Howard Rutnick, CEO of Wall Street investment bank Kentor Pitt-Gerald, as secretary of commerce.

Rutnick, who is also a co-chair of Trump's transition team, is a financial assetist who advocates for tougher tariffs and a revival of manufacturing that Trump emphasized during the presidential election and also co-chairs the regime's transition team.

Rutnick has been on the treasury secretary list until recently, and Tesla Inc TSLA CEO Elon Musk publicly endorsed Rutnick as finance minister last week, saying he could make a difference.

After Musk's expression of support, rumors of a "power struggle" within the transition team emerged, with reports that Trump is reviewing his Treasury secretary candidate.