The US Senate voted on Tuesday to confirm 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.
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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.
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