Overview

• Howard Lutnick, CEO of Cantor Fitzgerald and a major Trump donor, was confirmed by the Senate in a 51-45 vote along party lines.
• Lutnick has pledged to divest his extensive business holdings within 90 days to avoid conflicts of interest while serving as commerce secretary.
• As commerce secretary, Lutnick is expected to play a key role in implementing Trump's reciprocal tariff policies aimed at addressing trade imbalances with U.S. trading partners.
• During his confirmation hearing, Lutnick dismissed concerns about tariffs contributing to inflation and emphasized the need for stronger U.S. competitiveness in trade and technology, particularly against China.
• Lutnick's leadership experience includes guiding Cantor Fitzgerald through its recovery after losing 658 employees, including his brother, in the 9/11 attacks.