Commerce Secretary Howard Lutnick has been chosen by the Department of Defense to review any transactions between the Pentagon and companies associated with Cerberus Capital Management, according to a US official

COMMERCE SECRETARY HOWARD LUTNICK DISCLOSED AT LEAST $250 MILLION IN INCOME LAST YEAR Most of it came from his prior ownership of Cantor Fitzgerald, including a distribution of at least $190M before he handed his stake to his family, per WSJ. The 74-page ethics filing shows he stepped down from leadership roles at Cantor and hundreds of other organizations last year, mostly in February, the month he was sworn in as Commerce Secretary. Assets in the new filing total at least $237M as of last December, down from at least $805M in his prior report. Federal filings report values in wide ranges, so the actual total is likely higher. He sold at least $259M of assets between May and October and bought at least $166M of stock-index and money-market funds.

Commerce Sec. Lutnick on chip tariffs: US semiconductor production was "like 1%" when the administration came in. The target is now 40%, 50% if Intel delivers, by end of term. "Build it here and you won't pay a tariff while you're building." Don't, and "you should pay to have access to the greatest market in the world." $1.2T committed already. TSMC $265B, Micron $250B. Asked if SK and Samsung are on notice: "You are on notice that they are going to build here."

Commerce Sec. Lutnick on data-center opposition: "The number one product that uses water is an almond farm, and the next thing is cattle. Data centers don't use water. This is just misinformation." "If your community doesn't embrace a data center, some other community will."

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