Commerce Secretary Howard Lutnick asserts that the impact of tariffs isn't as detrimental to domestic goods as some might believe. During a CBS interview, he explained that while foreign goods may become pricier, this doesn't necessarily lead to increased costs for domestic products. Lutnick emphasized the importance of supporting American workers and factories rather than accommodating global interests, citing a significant national deficit as a consequence of previous global-focused economic policies. He dismissed concerns about stock market fluctuations affecting tariff implementations, affirming that previous tariff actions under Trump's presidency remain influential.
When tariffs come into place, foreign goods may become a little more expensive, but domestic goods do not.
It's time for us to take care of them instead of taking care of the world.
Our economic policy took care of the world and look where it led us. It led us to a 36 trillion-dollar deficit.
I mean, come on! The markets—when Donald Trump was the president last time, he put on tariffs.
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