Senate Confirms Lutnick as Commerce Secretary, Aligns with Trump's Trade Agenda

The U.S. Senate confirmed Howard Lutnick, billionaire CEO of Cantor Fitzgerald, as Secretary of Commerce with a 51-45 vote, aligning with President Trump's economic agenda. Lutnick will oversee a range of responsibilities, including trade policies, technology management, and initiatives like the CHIPS and Science Act. Advocating for tariffs on a country-by-country basis, Lutnick aims to enhance U.S. dairy market access in Canada and protect domestic industries from foreign competition, particularly from China. He plans to tighten restrictions on China's tech sector and reassess firearm export regulations established by the previous administration. Lutnick's confirmation has also sparked immediate reactions in the cryptocurrency market, with significant price increases for Bitcoin and Ethereum, reflecting optimism for pro-business economic policies. His financial background and support for Trump's strategies suggest a potentially transformative impact on U.S. economic and trade policies amid global competition.