Commerce nominee Lutnick in confirmation hearing backs Trump’s tariff plans

by Shauneen Miranda, Florida Phoenix
January 30, 2025

WASHINGTON — Billionaire businessman Howard Lutnick got a step closer to potentially serving as the next Commerce secretary after largely sailing through his confirmation hearing Wednesday before a U.S. Senate panel.

If confirmed by the Senate, which appears likely, Lutnick would lead the department responsible for promoting and serving the country’s international trade and economic growth. He would be critical to carrying out President Donald Trump’s vision for imposing big tariffs.

“We need healthy businesses — small, medium and large — to hire our great American workers to drive our economy,” Lutnick told the Senate Committee on Commerce, Science and Transportation.

The New Yorker said he would dedicate himself to “making our government more responsive, working to ensure Americans have the greatest opportunity for success.”

During the lengthy hearing that featured questions from senators on both sides of the aisle regarding artificial intelligence, trade policy, manufacturing and export controls, Lutnick said he believes that the country’s farmers, ranchers and fishermen are “treated with disrespect around the world.”

‘Across the board’ tariffs

Lutnick, who prefers “across the board” tariffs, said “we need that disrespect to end, and I think tariffs are a way to create reciprocity, to be treated fairly, to be treated appropriately, and I think it will help our farmers, our ranchers, our fishermen — to flourish.”

The Commerce Department’s wide portfolio also touches on technology, science and innovation.

Some of the department’s 13 bureaus include the International Trade Administration, the U.S. Census Bureau, the National Oceanic and Atmospheric Administration and the U.S. Patent and Trademark Office.

The department is also responsible for carrying out the bipartisan CHIPS and Science Act, which authorizes billions of dollars in funding for the production and research of semiconductors in the United States.

Lutnick said he thinks the CHIPS and Science Act was an “excellent down payment” in U.S. semiconductor manufacturing and noted that “we need to study it.”

Lutnick also said he has a “very jaundiced view” regarding China. “I think they only care about themselves and seek to harm us, and so we need to protect ourselves — we need to drive our innovation — and we need to stop helping them.”

Vice President J.D. Vance praised Lutnick during an introduction of the nominee, dubbing him “just a good dude.” 

Vance, who served on the commerce panel while a U.S. senator representing Ohio, said Lutnick “is a person who on the world stage will say more and do more and convince businesses that America is back — that America is growing and thriving.”

Trump is promoting an “America First Trade Policy” and issued a memo last week that called for the Treasury secretary, in consultation with the Commerce and Homeland Security secretaries, to consider the establishment of an External Revenue Service.

The agency would “collect tariffs, duties, and other foreign trade-related revenues,” according to the memo. 

Trump also directed the Commerce secretary to “investigate the causes of our country’s large and persistent annual trade deficits in goods.”

Potential conflicts of interest

Lutnick, who’s taken heat over his business ties and potential conflicts of interest, vowed to sell all his business interests within 90 days, if confirmed.

“I made the decision that I made enough money in my life,” Lutnick said. “I can take care of myself, I can take care of my family. It is now my chance to serve the American people.”

He currently has or previously had a position in more than 800 organizations and businesses outside the government, according to his financial disclosure report.

Lutnick is the chairman and chief operating officer of Cantor Fitzgerald, a large financial services firm. He rebuilt the company after more than 650 employees, including his brother, died in the 9/11 terrorist attacks.

He also established a multimillion-dollar fund for the families of the victims.  

Last updated 6:15 p.m., Jan. 29, 2025

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