Few people on the planet has bigger exposure to China than Elon, Lutnick's ties are pretty trivial in comparison.
I wonder if this is a sign that something is afoot. With Trump, chances are low but he is the only one that can follow in the footsteps of "only Nixon can go to China". He does like doing the unexpected. Now there are two people in Trump's circle that have a lot to lose in a worsening trade war on China.
But there is a chance Americans infact do not actually realize that, their past behaviour seem to suggest they only understand financial concepts and do not know China is ahead in most technology, Tesla isn't a joint venture in China and they don't talk at all about the Chinese tech in their vehicles or the Chinese supply chain that allows them to make a profit on EVs, Elon's vulnerability is entirely from concepts Americans don't understand and he might appear to be independent when it comes to concepts they do understand.
If that's the case it could get a lot more interesting than baseline scenerio.