The Senate confirmed Howard Lutnick on Tuesday and served as President Donald Trump's Secretary of Commerce.
The Republican-controlled Senate voted to check out Lutnick on Tuesday, less than a week after the senator voted to call sticky in the nomination. He needed a simple majority for a full confirmation of the Senate, and was confirmed in a 51-45 tally on Tuesday.
Lutnick passed a procedural vote last week after the Senate Commerce, Science and Transportation Committee voted 16-12 on February 5th for the coagulation movement.
Lutnick said it was consistent with Trump's “trade and tariff agenda.” His confirmation marks a milestone in Trump's America's First Policy Agenda.
Trump says we are “overflowing with jobs” as foreigners avoid tariffs.
Howard Lutnick and President Donald Trump will be screened on February 10th, 2025. (Getty)
Lutnick, chairman and CEO of investment firm Cantor Fitzgerald, is one of the wealthiest people to serve in the presidential administration. Lutnick vowed to sell his financial interests upon confirmation.
Trump's billionaire Merchant Secretary pledges to sell all business interests if confirmed
“My plan is to serve only Americans, so I'll sell. I mean, I'll sell all my profits, all my business profits, all my assets, everything,” Rutnick said. “I have worked with the government's Ethics Bureau and have reached an agreement on how to do that. I will sell within 90 days upon confirmation.”
At a confirmation hearing held on January 29th, Lutnick said he sold his business and selected someone else to confirm once. Lutnick was closely aligned with Trump's trade and tariff policies during the hearing. He said it was “nonsense” that tariffs created inflation and advocated reciprocity.
Howard Lutnick will testify at a confirmation hearing with the Senate Committee on Commerce on January 29, 2025. (Reuters)
“We are treated horribly by the global trade environment. They all have tariffs, non-tariff barriers, subsidies. They treat us poorly. We are treated better It needs to be. You can use tariffs to create mutual relations,” Rutnik said.
Last week, Trump directed federal agencies to explore implementation of mutual tariffs to improve the tariff imbalance imposed by countries selling American products. The President's memorandum directed Lutonic to study mutual trade relations within 180 days. Lutnick said Thursday that he would prepare the report by April 1st.
Last week, Trump announced a 25% tariff on all steel and aluminum imports from all countries, adding a 35% tariff on Chinese steel and aluminum imports. Customs duties are scheduled to begin on March 12th.
Trump has appointed Lutnick to serve as Secretary of Commerce two weeks after he was elected. Lutnick was co-chair of Trump's 2024 presidential transition team.
Howard Lutnick (Angelawice/AFP via Getty Images)
“I am pleased to announce that Cantor Fitzgerald Chairman and CEO Howard Lutnick will join my administration as US Secretary of Commerce,” Trump said in the announcement.
Click here to get the Fox News app
Trump praised Lutonic's leadership during the presidential transition, saying that he “created the most sophisticated processes and systems to help America create the greatest administration he has ever seen.”
