Senate Confirms Howard Lutnick as Commerce Secretary

The U.S. Senate has confirmed Howard Lutnick as the Secretary of Commerce in a narrow 51-45 vote, marking a significant milestone for President Trump's administration. Lutnick, a billionaire and former CEO of Cantor Fitzgerald, is set to oversee critical economic functions including tariffs, technology export controls, and initiatives like the CHIPS semiconductor program. He has a strong emphasis on protectionist policies, aiming to safeguard American industries against foreign competition, particularly from China. Lutnick's leadership is expected to focus on implementing corporate tax cuts and expanding energy production while also managing U.S. trade relations. His confirmation comes at a crucial time as the United States is re-engaging in economic negotiations with China, and he is expected to take a tough stance on technology sales to foreign entities. Additionally, Lutnick has pledged to divest his business interests within 90 days to avoid conflicts of interest while serving in this role.