Few people on the planet has bigger exposure to China than Elon, Lutnick's ties are pretty trivial in comparison.
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.
The average American still thinks China only makes money because it is an economy of poor brainwashed peasants in sweatshops slaving away over cheap low quality gadgets. To talk about China supply chains and tech would mean having to disabuse them of this stereotypical image that has been built up over years of racist biased media.