Howard Lootnick, the former CEO of Cantor Fitzgerald and Voice Support for Bitcoin, has been confirmed that he is the United States Minister of Commerce.
Through a narrow vote 51-45, the Senate confirmed its appointment, and its status is responsible for a department that supervises the critical economic fields such as trade, economic data and the regulation of the industry.
His leadership is expected to be consistent with the views of US President Donald Trump, especially on Trade enforcement And the rules of customs tariffs.
The main job in American commercial policy
Confirmation of Lootnick It is appointed responsible for about 50,000 employees of the Ministry of Commerce. Its impact will reach important areas including the management of the census, economic data and weather tracking.
But it is expected that its most important impact on commercial policy is that it will supervise the application and enforcement of the customs tariff, the current government’s economic program column.
US Senate Howard Lootnick confirms to be the Minister of Commerce, 51-45. pic.twitter.com/tyibzauvex
CSPAN (CSPAN) February 18, 2025
Lutnick dealt with issues related to tariffs and their potential impact on consumer pricing during the confirmation session. The theory that the customs tariff will inevitably raise American prices, and instead it may be used strategically, separately, to enhance fair trade. This position is suitable for Trump’s continuous call to enforce the most aggressive trade and concentrated economic policies.
Bitcoin, Blockchain support and industry support
Lutnick’s appointment has attracted a lot of attention between the encryption community due to its constant support for Bitcoin. He argued to exchange the free market for the main encryption and likened it to gold.
Congrats! @Howardlutnick On your assertion as Minister of Trade. pic.twitter.com/7wijfnf5
Michael Saylor (Saylor) February 19, 2025
The prominent players in this field, including Senator Senteya Lomes and the strategy, Michael Celor, both showed his belief in his ability to properly negotiate economic policy, with his supportive situation.
Although his position as Minister of Trade does not explicitly require control of cryptocurrencies, except The friend’s approach to the market It can indicate a change in the economic perspective of the federal government, especially with regard to Digital assets and financial innovation.
Implementing definitions and market reaction
One of the first major Lutnick responsibilities is to supervise the use of definitions on imports. This plan aims to protect American companies and pay for better trade deals. The way in which the definitions is likely to affect how he works with major partners around the world will be likely to affect. Companies will be very interested in how their policies affect trade prices and supply chains because they depend a lot on imports.
Although some legislators and business groups are not sure, Lutnick lovers say his experience in financial markets makes him eligible for this position. Cantor Fitzgerald, where he was responsible, explains that he could make difficult economic choices.
With the responsibility for Lutnick, the Ministry of Commerce is expected to implement trade laws with increased strength. It can follow new customs tariff regulations, changes in import policies, and possibly significant economic changes from this.
Distinctive image from Bitcoin SistmiThe graph from Tradingview
