President Donald Trump swore in Howard Lutnick as his secretary of commerce at the White House Friday.
Lutnick has voiced support for Trump’s tariff proposals, and said during his confirmation hearing before the Senate Committee on Commerce, Science and Transportation in January that the U.S. “can use tariffs to create reciprocity.”
The Trump administration has ordered federal agencies to investigate imposing reciprocal tariffs to correct any tariff imbalances that exist between countries that sell U.S. products. Lutnick said Feb. 13 that a report on the issue will be ready by April 1.
Additionally, Lutnick, the former chair and CEO of investment firm Cantor Fitzgerald, vowed he would sell all his business interests upon confirmation to avoid any conflicts of interests.
“My plan is to only serve the American people,” Lutnick told lawmakers in January. “So I will divest, meaning I will sell all of my interests, all of my business interests, all of my assets, everything.”
The Senate confirmed Lutnick Tuesday by a 51–45 margin.
Deirdre Heavey and Aubrie Spady contributed to this report.
