Billionaire businessman Howard Lutnick got a step closer to potentially serving as the next Commerce secretary after largely sailing through his confirmation hearing Wednesday before a U.S. Senate panel.

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Billionaire financier Howard Lutnick, President Donald Trump’s choice to lead the Commerce Department, said Wednesday that he would sell all of his business holdings within 90 days.

Howard Lutnick, Trump’s pick for Commerce Department head, told senators Wednesday he'll crack down on those who treat the U.S. “horribly.”

The Commerce Secretary nominee called the law “necessary and important,” but stopped short of committing to honor the billions of dollars in finalized grant contracts.

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Howard Lutnick, chairman and CEO of investment firms Cantor Fitzgerald and BGC Group, told the U.S. Senate Committee on Commerce, Science and Transportation that he would divest “all of my interests, my business interests, all of my assets, everything.”

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The billionaire Wall Street CEO fielded questions about tariffs, China's AI progress, broadband access, allegiance to Trump and the revival of American mining and semiconductor production.

Billionaire financier Howard Lutnick, President Donald Trump’s choice to lead the Commerce Department, said Wednesday that he would sell all of his business holdings within 90 days

"Both Tulsi Gabbard and RFK Jr. represent parts of the new coalition in our party," Vance said, suggesting saying "no" to them would be an "insult" to new voters.