The Senate has approved Howard Lutnick as the new secretary of Commerce, marking a significant development in the economic team of President Donald Trump's administration.

With a 51-45 vote, the Senate confirmed Lutnick's nomination, aligning with Trump's strategy for trade and tariffs, as Fox News reports.

Lutnick's Confirmation Supports Economic Agenda

Lutnick, the chairman and CEO of Cantor Fitzgerald, was confirmed by the Senate on Tuesday. The vote cemented his position as the Secretary of Commerce, a pivotal role in the economic landscape. His appointment is crucial to Trump’s ongoing mission to address trade imbalances.

The procedural hurdle of cloture for Lutnick's nomination was cleared earlier, on Feb. 5.

The Senate Commerce, Science, and Transportation Committee voted 16-12, favoring his nomination.

Lutnick, known for his substantial personal fortune, now stands among the wealthiest person to serve in a presidential administration. Nevertheless, he has committed to separating himself from his financial interests, promising impartiality in his new role.

Deliberations and Key Policy Positions

During his Jan. 29 confirmation hearing, Lutnick emphasized the necessity for reciprocation in international tariffs, shrugging off warnings about potential inflationary consequences. This stance bolsters Trump’s tariff-focused policy approach.

President Trump demonstrated support by signing a memorandum, setting Lutnick on a 180-day mission to evaluate reciprocal trade relations. A report detailing findings is anticipated by April 1.

Additionally, in a significant policy move, Trump announced substantial tariffs: 25% on steel and aluminum imports at large, and a steeper 35% specifically for imports originating from China, set to commence on March 12.

Lutnick's Commitment to Impartiality

"My plan is to only serve the American people," Lutnick declared, outlining his intention to divest from all vested interests. This assurance followed his collaboration with the Office of Government Ethics where officials determined a divestment strategy.

He further expressed his determination: "I will be divesting within 90 days upon my confirmation." His firm resolve aims to quell potential concerns regarding conflicts of interest.

Throughout his appointment hearings, Lutnick was vocal about his perspective on the global trading climate, asserting that foreign counterparts engage in unfair practices. His message was clear: "We need to be treated better."

White House Leadership and Administrative Role

President Trump was effusive in his praise, expressing his enthusiasm over Lutnick's confirmation as Commerce Secretary. His remarks highlighted Lutnick's role in heading the tariff and trade policy sector.

Trump noted Lutnick's expertise, stating he had "created the most sophisticated process and system" for governmental operations. This underscores Lutnick's influential capacity in shaping administration dynamics.

Lutnick's new position also has historical significance, given his early nomination post the 2024 election. His leadership was instrumental as part of Trump’s transition team, guiding strategic administrative alignments.

Tariffs as Tool for Achieving Reciprocity

Lutnick's theory that America is poorly treated in the global trade environment dominated discussions related to his confirmation. He posited that tariff implementations could enforce more balanced trade relations through "reciprocity."

This stance aligns with broader measures put forth by President Trump, aiming to recalibrate U.S. trade dealings globally, attempting to counter subsidies and non-tariff barriers.

The strategic moves set by Lutnick, such as the impending tariffs on metal imports, reflect a robust approach intended to bolster national industry, albeit amidst debate on inflation impacts.