The Senate on Wednesday confirmed Howard Lutnick will serve as Secretary of Commerce and approved a key member of President Trump's economic team amid rising trade tensions.
The senator voted 51-45 in support of Lutonic's confirmation to lead the Department of Commerce, which has broad authority over US trade, shipping, infrastructure, communications, environmental surveillance and intellectual property.
Lutnick, CEO of Wall Street investment firm Cantor Fitzgerald, co-chaired the Trump transition process after the president's incredible re-election. He was widely confirmed by the GOP-controlled Senate and advanced his nomination with a 52-45 vote.
Lutonic will play a central role in Trump's trade agenda as the president threatens tariffs on a wide range of trading partners, including major allies such as Canada and Mexico.
The scope and size of Trump's tariffs depend on the president, but the Commerce Department is in charge of implementing new import taxes and approving exemption requests. Lutnick will also oversee the Bureau of Industry (BIS), the agency responsible for implementing import and export bans, along with other national security-related trade rules.
The BIS could play a central role in the Trump administration's push to crack down on the use of US technology and services by Chinese artificial intelligence companies.
