The Secretary of the American Store Howard Lutnick breaks down the explanation behind the multitude of tariffs, responds to criticism trade and reveals the ultimate goal for the negotiating tactics of President Donald Trump.
By setting a record directly about the seemingly constant tariff discussions in the political and economic sphere, the secretary of President Donald Trump’s trade has stifled any fears of recession and explained that the tariff agenda “Play for the Power of America”.
“The president is there to protect US workers. It’s here to protect the US industry. We’ll stop that stupidity and bring steel here,” Howard Lutnick said on Wednesday on “Varney & Co.”
“So this concept that” Oh, prices will rise, “you have to remember, President Trump plays for the power of America,” he continued.
After taking the action against Mexico, Canada and China, Trump’s 25% of tariffs increase All the imports of steel and aluminum Officially entered into force on Wednesday, the last move in the plans of the administration for remodeling global trade standards in favor of American production.
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The command expands its duties to hundreds of products downstream, including nuts and screws, knife knives and soda cans. This also encouraged the retaliation of the European Commission, which announced shortly after Trump’s tariffs came into force that they would impose a counter tariff on the equivalent of US goods worth $ 28 billion starting next month.
Trade secretary Howard Lutnick said he would “stop” by President Donald Trump’s Tariff on “Varney & Co.” (Getty Images)
“So, I think the president believes that Steel and Aluminum is fundamental to our national security. I mean, we cannot be at war and rely on steel and aluminum from another country,” Lutnick explained. “It’s just not reasonable.”
“So, the president wants Steel and Aluminum in America. And let me be clear – it won’t stop anything until we get a great, strong ability of domestic steel and aluminum. And by the way he will add copper to that mix,” the secretary added.
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When the host Fox Business Stuart Varney pointed out that the prices of aluminum, steel and copper had already started to grow and could potentially potentially “Ripple” through economicsLutnick placed rise to the biden administration.
“Inflation comes from the Government printing too much money, the biden administration has a 2 trillion deficit. You don’t get inflation from the tariff. Because the tariff says it is made in Europe, if it has been done abroad, it could cost a little more. But what is done in America costs no more,” he.
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The Howard Lutnick Store Secretary opens about President Donald Trump’s tariffs on Mexico and Canada on ‘Kudlow’.
The planned production of steel and aluminum only operates at 50 to 55%, according to a portrayal, which claims that Trump’s plan is to increase that yield to 80%.
Former Cantor Fitzgerald and BGC Group CEO also responded to an article on a politics claiming that “Trump’s allies are to blame Lutp’s Tariff Tariff Tariff,” quoting anonymous sources saying he acts “Mini Trump”.
“I really help him to execute my policy. The economic team is one. We do it together,” the secretary explained. “We understand what he wants to achieve. He wants to bring back production to America. He wants to bring and protect America from certain industries, which he called. And we do that together.”
Fox Business’ Eric Revell contributed to this report.
