WASHINGTON - U.S. Senator Tim Scott (R-S.C.) issued the following statement on President-elect Trump's nomination of Howard Lutnick to serve as U.S. Secretary of Commerce:

"Howard Lutnick is a successful businessman who understands both the American economy and global markets inside and out. Howard will be a valuable part of President Trump's team that will hold foreign bad actors accountable, empower our nation's job creators, and unlock American innovation and opportunity. That's good news for American families and small businesses that have been held back by the Biden-Harris administration's burdensome, far-left regulatory agenda."