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Senate confirms Howard Lutnick as commerce secretary
CBSN
The Senate confirmed wealthy financier Howard Lutnick as commerce secretary Tuesday, putting in place a staunch supporter of President Trump's hardline trade policies.
At the Commerce Department, Lutnick, who was CEO at the investment firm Cantor Fitzgerald, will oversee 50,000 employees who do everything from collecting economic statistics to running the census to issuing weather reports. But he's likely to spend a lot of time — along with Jamieson Greer, Mr. Trump's nominee to be the top U.S. trade negotiator — managing the president's aggressive plans to impose import taxes on U.S. trading partners, including allies and adversaries alike.
The Senate vote to confirm Lutnick was 51-45.
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Defense Secretary Pete Hegseth has directed the Pentagon to come up with plans to cut 8% from the defense budget in each of the next five years, according to sources familiar with his plans. The Defense Departmen expects to redirect those fund to other programs in the department that would be prioritized by President Trump.
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Washington — President Trump will speak at an investment conference in Miami sponsored by Saudi government entities on Wednesday, an address that comes as the Trump Organization seeks to expand its real estate empire in Saudi Arabia and the president looks to strengthen ties with the Middle East partner.