NEWSLETTER
Howard Lutnick, former CEO of Cantor Fitzgerald and a vocal defender of bitcoin, has been confirmed as the United States Secretary of Commerce.
With a close vote of 51-45, the Senate confirmed its appointment, which put it in charge of an department that supervises critical economic areas such as trade, economic data and industry regulation.
Its leadership is expected to be consistent with the opinions of the president of the United States, Donald Trump, particularly in trade execution and rates rules.
Key function in American commercial policy
Lutnick confirmation He assigns responsibility for about 50,000 members of the Commerce Department personnel. Its impact will reach important areas, including census management, economic data and climate monitoring.
But its most important influence on commercial policy is expected, since it will supervise the application and application of tariffs, the pillar of the current government program.
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The United States Senate confirms that Howard Lutnick is Secretary of Commerce, 51-45. pic.twitter.com/tyibzauvex
– Cspan (@cspan) <a target="_blank" href="https://twitter.com/cspan/status/1891998185662386224?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>February 18, 2025
Lutnick addressed the problems related to tariffs and their possible impact on consumer prices during their confirmation audience. He discounted the theory that tariffs would inevitably increase US prices, maintaining that they could be used strategically, nation by nation, to promote fair trade. This position conforms to Trump's continuous defense of the most aggressive commercial application and focused economic policies.
bitcoin, Blockchain support and industry support
Lutnick's appointment has attracted a lot of interest among the cryptographic community due to its continuous support for bitcoin. He has advocated for the exchange of free market of the main cryptographic active and had compared it to gold.
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Congratulations <a target="_blank" href="https://twitter.com/howardlutnick?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>@Howardlutnick in his confirmation as Secretary of Commerce. pic.twitter.com/e7wijxfnf5
– Michael Saylor (@saylor) <a target="_blank" href="https://twitter.com/saylor/status/1892011415193415798?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>February 19, 2025
The notable players in the field, including Senator Cynthia Lummis and Michael Saylor De Strategy, who have shown faith in their ability to adequately negotiate economic policy, have agreed with their Pro-bitcoin position.
Although his position as secretary of Commerce does not explicitly imply the control of cryptocurrencies, his Amigable market approach could indicate a change in the economic perspective of the federal government, especially in relation to Digital assets and financial innovation.
Implementation of rates and market reaction
One of Lutnick's first main responsibilities will be to supervise the use of import rates. This plan is intended to protect US companies and press for better trade agreements. It is likely that the way in which it supervises tariffs affects the way it works with key partners around the world. Companies will be very interested in how their policies affect commercial prices and supply chains, since they depend so much on imports.
Although some legislators and business groups are not sure, Lutnick fans say that their experience in financial markets qualifies it for work. Cantor Fitzgerald, where he was in charge, shows that he can make difficult economic decisions.
With Lutnick in charge, the Commerce Department is expected to enforce the most vigor commercial laws. The new tariff regulations, changes in import policies and perhaps significant economic changes could be derived from this.
bitcoin Systemi's prominent imageTrainingView graph
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