President-elect Donald Trump is set to appoint Howard Lutnick, the co-chair of his transition team, as his commerce secretary, a source close to the situation confirmed to The Post on Tuesday.

Lutnick, who serves as the CEO of Cantor Fitzgerald, had previously been considered a frontrunner for the more high-profile position of treasury secretary. However, his chances for that role seemed to have dwindled in recent days.

The news of the 63-year-old’s expected nomination was initially reported by Punchbowl News.

{Matzav.com}