President-elect Donald Trump on Tuesday confirmed his choice of Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce.

"I am thrilled to announce that Howard Lutnick, Chairman & CEO of Cantor Fitzgerald, will join my Administration as the United States Secretary of Commerce. He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative," Trump announced.

Lutnick has served as co-chairman of the Trump transition team.

Trump has yet to announce several key posts for his Cabinet, including the Treasury Secretary and Agriculture Secretary. Lutnick had reportedly been in the running for Treasury.

Wilbur Ross held the post during Trump's first term.