Watch Live: Howard Lutnick Testifies At Senate Hearing For Commerce Secretary

The Senate Commerce, Science, and Transportation Committee has scheduled a hearing for January 29 to consider the nomination of Howard Lutnick as Secretary of Commerce. Committee Chairman Sen. Ted Cruz praised Lutnick as an excellent choice, citing his experience and ability to promote American entrepreneurial spirit. Lutnick supports President Trump's tariff agenda and has called for reciprocal tariffs on countries. He is a proponent of broad tariffs, believing they can bring manufacturing back to the US. However, Sen. Elizabeth Warren has expressed concerns about Lutnick's connection to stablecoin issuer Tether through his investment firm Cantor Fitzgerald. Warren has asked Lutnick to answer questions about his financial stake in Tether and whether he can put the interests of the American people ahead of his personal financial interests. If confirmed, Lutnick will have access to President Trump and other officials responsible for regulating Tether. Lutnick is a billionaire and was a major fundraiser for Trump in the 2020 and 2024 election cycles. He is the chairman and CEO of Cantor Fitzgerald and BGC Group, and came to prominence after 9/11 when his company's office was located in one of the Twin Towers.