Howard Lutnick, nominated to lead the Commerce Department, defended President Trump's tariff strategy and proposed strict oversight on tech sales to China during his Senate confirmation. He argued for across-the-board tariffs to enhance fairness in trade and support American farmers and fishermen, contradicting economic forecasts about inflation. Lutnick expressed particular concern over China's technological advancements, specifically artificial intelligence, and committed to examining the allocation of funds from the $50 billion CHIPS Act aimed at boosting U.S. semiconductor manufacturing.
Mr. Lutnick insisted that tariffs would not be inflationary, despite many economists' forecasts, stating, "We need that disrespect to end. And I think tariffs are a way to create reciprocity, to be treated fairly."
He stated he would take a strong stance on technology sales to China, emphasizing, "We need to stop helping them." Lutnick aims to regulate sales particularly related to A.I. advancements.
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