The Senate confirmed Howard Lutnick on Tuesday to serve as President Donald Trump’s U.S. Secretary of Commerce.
The Republican-controlled Senate voted to confirm Lutnick on Tuesday, less than a week after senators voted to invoke cloture on his nomination. He needed a simple majority on Tuesday for full senate confirmation.
Lutnick passed his procedural vote last week after the Senate Commerce, Science, and Transportation Committee voted 16-12 to motion for cloture on February 5.
Lutnick said he aligns with Trump’s “trade and tariff agenda” which seeks to remedy trade imbalances by imposing reciprocal tariffs. His confirmation indicates a milestone for Trump’s “America First” policy agenda.
US WILL BE ‘FLOODED WITH JOBS’ AS FOREIGN NATIONS AVOID TARIFFS, TRUMP SAYS
Howard Lutnick, chief executive officer of Cantor Fitzgerald LP and US commerce secretary nominee for US President Donald Trump, right, and President Donald Trump during an executive order signing in the Oval Office of the White House in Washington on Monday, Feb. 10, 2025. (Getty)
Lutnick, Chairman and CEO of investment firm Cantor Fitzgerald, is one of the wealthiest people to serve in a presidential administration. Lutnick vowed to divest his financial interests upon confirmation to remain impartial.
TRUMP’S BILLIONAIRE COMMERCE SECRETARY PICK VOWS TO SELL ALL HIS BUSINESS INTERESTS IF CONFIRMED
“My plan is to only serve the American people. So I will divest — meaning I will sell all of my interests, all of my business interests, all of my assets, everything,” Lutnick said. “I’ve worked together with the Office of Government Ethics, and we’ve reached agreement on how to do that, and I will be divesting within 90 days upon my confirmation.”
During his confirmation hearing on January 29, Lutnick said he would sell his businesses and elect someone else to lead them once confirmed. Lutnick aligned closely with Trump’s trade and tariff policies during the hearing. He said it’s “nonsense” that tariffs create inflation and advocated for reciprocity.
Howard Lutnick, U.S. President Donald Trump’s nominee to be commerce secretary, testifies before a Senate Commerce Committee confirmation hearing on Capitol Hill in Washington on Jan. 29, 2025. (Reuters)
“We are treated horribly by the global trading environment. They all have higher tariffs, non-tariff trade barriers and subsidies. They treat us poorly. We need to be treated better. We can use tariffs to create reciprocity,” Lutnick said.
Trump last week directed federal agencies to explore the implementation of reciprocal tariffs to remedy tariff imbalances imposed by countries who sell American products. The presidential memorandum directed Lutnick to study reciprocal trade relations within 180 days. Lutnick said Thursday he will have the report ready by April 1.
Trump also announced last week a 25% tariff on all steel and aluminum imports from all countries, adding up to a 35% tariff for Chinese steel and aluminum imports. The tariffs are set to begin March 12.
Trump nominated Lutnick to serve as commerce secretary two weeks after he was elected. Lutnick was a co-chair of Trump’s 2024 presidential transition team.
Howard Lutnick, Chairman and CEO of Cantor Fitzgerald and Co-Chair of the Trump 2024 Transition Team speaks at a rally for former US President and Republican presidential candidate Donald Trump at Madison Square Garden in New York on Oct. 27, 2024. (ANGELA WEISS/AFP via Getty Images)
“I am thrilled to announce that Howard Lutnick, Chairman & CEO of Cantor Fitzgerald, will join my Administration as the United States Secretary of Commerce. He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative,” Trump said in the announcement.
CLICK HERE TO GET THE FOX NEWS APP
Trump praised Lutnick’s leadership during the presidential transition and said he “created the most sophisticated process and system to assist us in creating the greatest Administration America has ever seen.”
