Trump nominated Oz as administrator for the Centers for Medicare and Medicaid Services and Howard Lutnick as his next U.S. commerce secretary, who would oversee tariff policy.
On Tuesday, U.S. President-elect Donald Trump appointed Wall Street executive Howard Lutnick to head the Commerce Department and appointed Dr. Mehmet Oz, a former talk show host and heart surgeon, to lead the agency that manages health insurance programs for millions of elderly, impoverished, and disabled Americans.
Trump stated in a statement, “Dr. Oz will be a leader in giving incentives for disease prevention so we get the best results in the world for every dollar we spend on healthcare in our Great Country.” “He will also reduce fraud and waste in our nation’s most costly government agency, which accounts for a quarter of the national budget and a third of healthcare spending.”
Oz, who unsuccessfully sought to represent Pennsylvania in the U.S. Senate in 2022, has been a vocal supporter of Trump and has recently voiced support for Robert F. Kennedy Jr.’s appointment to the Department of Health and Human Services, the country’s top health department.
Oz would answer to Kennedy as the Centers for Medicare and Medicaid Services administrator. Oz would be in charge of the Affordable Care Act, Medicaid, and Medicare, which more than half of the nation depends on for health insurance if the Senate confirms him.
While Medicare offers health insurance to the elderly and handicapped, Medicaid offers almost free health care coverage to millions of the nation’s poorest children and adults. The Affordable Care Act, a program implemented during the Obama administration, provides health insurance coverage to millions of Americans who do not receive insurance through their employers but do not qualify for government-assisted health insurance.
Last week, Oz posted a picture of himself and Kennedy together on Instagram, writing, “As HHS secretary, @robertfkennedyjr can help as Americans need better research on healthy lifestyle choices from unbiased scientists.”
Oz has been accused of using his now-canceled TV show to promote questionable medical procedures and goods. Additionally, he pushed government authorities to make hydroxychloroquine publicly accessible during the peak of the COVID-19 epidemic, despite unanswered concerns regarding its efficacy and safety.
Lutnick will supervise tariffs and trade.
Trump stated on Tuesday that Lutnick would play a crucial part in implementing his plan to increase tariffs and enforce them in his capacity as commerce secretary. Lutnick is the chairman of Cantor Fitzgerald, a brokerage and investment firm, and a bitcoin enthusiast.
Trump announced the news on Truth Social, his social media account, on Tuesday. “With additional direct responsibility for the Office of the United States Trade Representative, Lutnick will lead our Tariff and Trade agenda,” according to Trump’s post.
Lutnick and Linda McMahon, the veteran wrestling mogul who oversaw Trump’s Small Business Administration, are co-chairs of Trump’s transition team. Both are responsible for proposing people for important positions in the next government.
The nomination would place Lutnick in command of a large Cabinet department that releases economic statistics, monitors the weather, imposes trade restrictions, and finances new computer chip manufacturing. Additionally, relationships with CEOs and the larger business community are essential for this role.
In September, Lutnick, who supports the imposition of broad tariffs, told CNBC that “tariffs are an amazing tool for the president to use—we need to protect the American worker.” During his campaign, Trump suggested imposing a 60% tax on Chinese goods and a 20% tariff on all other imports into the US.
Tariffs are typically viewed by mainstream economists as an ineffective means of government revenue raising and prosperity promotion.
Lutnick was under consideration for the position of Treasury Secretary, which has been the focus of intense competition among Trump supporters. Trump keeps a close eye on the stock market, which is highly observed by financial circles, and a disruptive choice might have immediate negative effects on the Treasury’s position.
Additionally, billionaire Elon Musk and other Trump supporters urged Trump to replace Scott Bessent, the former frontrunner for Treasury Secretary, with Lutnick. In his article, Musk stated that “@howardlutnick will actually enact change, while Bessent is a business-as-usual choice.”
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After starting with Cantor Fitzgerald in 1983, Lutnick worked his way up to become president and CEO in 1991.
Lutnick is also the head of the commercial real estate services business Newmark Group, Inc. and the financial technology company BGC Group, Inc.
Lutnick previously appeared on Trump’s NBC reality show, “The Apprentice,” and has given to both Democrats and Republicans. He has joined the president-elect’s inner circle and has performed alongside Trump at rallies in Madison Square Garden and other events throughout the latter days of his campaign.
In the closing days of the campaign, he faced backlash for a CNN interview in which he reiterated Robert F. Kennedy Jr.’s disproven vaccination accusations.
Washington-based journalist Matthew Perrone of the Associated Press also contributed.