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US Senate confirms Cantor Fitzgerald's Lutnick to head Commerce Department

ReutersFeb 18, 2025 11:53 PM

- The U.S. Senate voted on Tuesday by a 51-45 vote to confirm President Donald Trump's nominee Howard Lutnick, the billionaire chairman and CEO of Wall Street firm Cantor Fitzgerald, to run the Commerce Department.

The Commerce Department, which has 47,000 employees, is responsible for U.S. export controls, anti-dumping and anti-subsidy duties, weather forecasting, fisheries, economic data and promotion of investment in the U.S., as well as oversight for the $52.7 billion Chips and Science semiconductor manufacturing and research subsidy program. Trump earlier said he had designated Lutnick as the leader of his trade policy.

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