Howard Lutnick is set to move from CEO of Wall Street finance firm Cantor Fitzgerald and co-chairman of President-elect Donald Trump‘s transition team to the next commerce secretary.

The commerce secretary is responsible for defending U.S. business interests worldwide, overseeing export restrictions, funding new computer chip factories, and releasing economic data. When Trump announced Lutnick as his pick, he also said, “He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.”