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Howard Lutnick declares ‘no chance’ of recession in US, defends Trump's fentanyl-related tariffs; 'This
Howard Lutnick stated on Sunday that Trump will not back down from his demands for tariffs on China, Canada, and Mexico over their handling of fentanyl.
US Commerce Secretary Howard Lutnick stated on Sunday that President Donald Trump will not back down from his demands for tariffs on China, Canada, and Mexico over their handling of fentanyl.
Appearing for an interview with NBC's “Meet the Press” with Kristen Welker, Lutnick stated, “If fentanyl ends, I think these will come off. But if fentanyl does not end, or he's uncertain about it, he will stay this way until he is comfortable.”
He mentioned that fentanyl flow has claimed the lives of 75,000 Americans, and called it a serious drug-related problem.
‘This is the way you run the country,’ says Lutnick
Backing Trump-led administration's approach, he said, “This is the way you run the country”, citing the need to close the border and made neighbors do their job. “Why are our neighbors, who live and breathe off our economy, not taking care of America?”
Calling the situation “black and white”, the Commerce Secretary said, “You got to save American lives.”
Lutnick stated that the 25% US tariffs imposed on steel and aluminum imports will go into force on Wednesday according to schedule.
Both Canada and Mexico are major exporters of the metals to American markets, with Canada importing the majority of aluminum.
Lutnick declares America will not see recession
Additionally, Lutnick dismissed concerns that Trump's international tariffs would trigger a US recession.
“There's going to be no recession in America... Global tariffs are going to come down because President Trump has said, ‘You want to charge us 100%? We’re going to charge you 100%,” he declared.
The Commerce Secretary defended Trump's modifications to his initial tariff plan and stated that it is critical that the US President interacts with other nations.
He, however, admitted that the tariffs will raise the cost of items produced abroad for American customers.
“Some products that are made foreign might be more expensive, but American products will get cheaper, and that's the point,” he asserted.
