Commerce Secretary Howard Lutnick has been accused of a potential ethics violation over a major rare earth minerals deal announced by the U.S. government that has links to his family-run financial firm.
A group of Democrats has written a letter, seen by the Wall Street Journal, to Cantor Fitzgerald Chairman Brandon Lutnick, the commerce secretary’s son, expressing concerns about a $1.6 billion investment the Trump administration announced in January with minerals company USA Rare Earth.
Cantor Fitzgerald was headed by the commerce secretary from 1996 to 2025 before he handed the reins over to his children. Brandon and Kyle Lutnick were named chairman and executive vice chairman of the firm in May 2025.
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