• Howard Lutnick Confirmed as U.S. Secretary of Commerce, Solidifying Trump's "America First" Trade Agenda

  • Feb 20 2025
  • Length: 3 mins
  • Podcast

Howard Lutnick Confirmed as U.S. Secretary of Commerce, Solidifying Trump's "America First" Trade Agenda

Listen for free

View show details

  • Summary

  • Howard Lutnick has been confirmed by the Senate to serve as President Donald Trump's U.S. Secretary of Commerce, a move that marks a significant milestone in Trump's "America First" policy agenda. The confirmation, which occurred on Tuesday with a vote of 51-45, follows a procedural vote last week where the Senate invoked cloture on his nomination[1][5].

    Lutnick, the Chairman and CEO of investment firm Cantor Fitzgerald, is one of the wealthiest individuals to serve in a presidential administration. He has vowed to divest all his financial interests to maintain impartiality, stating that he will sell all his business interests and assets within 90 days of his confirmation. This divestment plan was agreed upon with the Office of Government Ethics[1].

    During his confirmation hearing on January 29, Lutnick aligned closely with Trump's trade and tariff policies. He advocated for the use of reciprocal tariffs to address trade imbalances, arguing that the global trading environment treats the U.S. poorly and that tariffs can be used to create reciprocity. Lutnick dismissed the notion that tariffs create inflation, calling it "nonsense"[1].

    In line with these views, President Trump recently directed federal agencies to explore the implementation of reciprocal tariffs to remedy tariff imbalances imposed by other countries. Lutnick has been tasked with studying reciprocal trade relations and is expected to have a report ready by April 1. Additionally, Trump announced a 25% tariff on all steel and aluminum imports from all countries, with an even higher 35% tariff on Chinese steel and aluminum imports set to begin on March 12[1].

    Lutnick's role as Commerce Secretary will also involve leading the Office of the United States Trade Representative, further solidifying his position in shaping Trump's tariff and trade agenda. His confirmation is seen as a key step in the administration's efforts to enforce stricter trade policies, particularly against countries like China[1].

    The Trump administration has also made significant changes in export control policies, which will fall under Lutnick's purview. On January 20, 2025, President Trump issued an executive order establishing an "America First Trade Policy," which includes a review of the U.S. export control system. The Departments of Commerce and State are instructed to assess and recommend ways to maintain America's technological edge and eliminate loopholes in existing export controls, with a focus on preventing the transfer of strategic goods and technologies to strategic rivals like China[2].

    These changes indicate a robust approach to export control administration and enforcement, with potential impacts on companies involved in exporting advanced technologies. The new policies and personnel changes at key agencies, including the Departments of Commerce, State, and Justice, are expected to reshape export control priorities and enforcement mechanisms[2].
    Show More Show Less
Show More Show Less

What listeners say about Howard Lutnick Confirmed as U.S. Secretary of Commerce, Solidifying Trump's "America First" Trade Agenda

Average Customer Ratings

Reviews - Please select the tabs below to change the source of reviews.

Audible.com.au reviews

Amazon Reviews
No Reviews are Available
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.