The former chair of the Wall Street firm abandoned his post as he was confirmed as the United States Commerce Secretary.

The two oldest sons of billionaire Howard Lutnick, the former chief executive officer of Cantor Fitzgerald LP, are both still in their 20s.

President Donald Trump swore in Howard Lutnick as his secretary of commerce at the White House Friday. Lutnick has voiced support for Trump’s tariff proposals, and said during his confirmation hearing before the Senate Committee on Commerce, Science and Transportation in January that the U.S. "can use tariffs to create reciprocity."

The Senate has confirmed wealthy financier Howard Lutnick as commerce secretary. The confirmation vote Tuesday puts Lutnick in charge of the Commerce Department, where he will oversee 50,000 employees

Cruise operators may yet avoid paying more US corporate taxes despite threats from US Commerce Secretary Howard Lutnick to close favorable loopholes.

Shares of cruise lines tumbled Thursday after Commerce Secretary Howard Lutnick suggested they would crack down on taxes paid by the companies. "You ever see a cruise ship with an American flag on the back?