A longtime Wall Street executive, Mr. Lutnick will take on a broad portfolio that includes defending U.S. business interests and overseeing restrictions on technology exports.According to The New York Times, the Senate confirmed Howard Lutnick as President Trump’s commerce secretary on Tuesday with a vote of 51 to 45. Lutnick, who previously served as the chief executive of Cantor Fitzgerald, has been a key economic adviser to Trump and led his transition team. He has expressed support for tariffs as a means of protecting American industries, advocated for lower corporate taxes, and called for increased energy production.
As commerce secretary, Lutnick will have a wide range of responsibilities, including defending U.S. business interests globally and overseeing restrictions on technology exports to countries like China. During his confirmation hearing last month, Lutnick stated that he would take a tough stance on the department’s oversight of technology sales to China and would back up export controls with the threat of tariffs. He specifically mentioned the recent release of artificial intelligence technology by Chinese start-up DeepSeek, which was supported by Meta’s open platform and chips from U.S. company Nvidia.
Lutnick emphasized the need to stop aiding China and stated, “I’m going to be very strong on that.” With the United States currently engaged in economic negotiations with China, Lutnick is expected to play a central role. Trump also announced that Lutnick will oversee the work of the Office of the United States Trade Representative, which is traditionally responsible for trade policy.
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