Senate to Review Lutnick's Commerce Department Nomination

The Senate Commerce Committee is set to review President Trump's nominee, Howard Lutnick, to lead the Commerce Department. Lutnick, a prominent Wall Street CEO, will have significant influence over the U.S. trade strategy with China. In addition, he will oversee the U.S. Trade Representative's office.

The Senate Commerce Committee announced plans to hold a hearing on January 29 to consider President Donald Trump's nominee for head of the Commerce Department, a crucial agency for U.S. strategy against China's tech industry. Howard Lutnick, a Wall Street CEO with extensive experience, is President Trump's choice for the role.

Lutnick, who leads Cantor Fitzgerald and chairs both BGC Group and Newmark Group, will bring substantial expertise to the department. His leadership is expected to shape the administration's trade and tariff strategy, particularly concerning China.

In his new role, Lutnick will also assume direct responsibility for the U.S. Trade Representative's office, further integrating trade policy among Wall Street's key players and impacting major banking and trading platforms like FMX.

(With inputs from agencies.)