Lutnick Says Trump Tariffs Will Restore US Economy, Respect
- Commerce Secretary pick prefers levies ‘across-the-board’
- Says tariffs will make trade more fair and aren’t inflationary
Howard Lutnick during his confirmation hearing on Jan. 29.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Howard Lutnick, President Donald Trump’s nominee to lead the Commerce Department, offered a detailed defense of tariffs in his confirmation hearing, the clearest signal yet from a cabinet pick that the new administration is prepared to impose the levies on allies and adversaries alike.
The Wall Street veteran, appearing before the Senate Committee on Commerce, Science, and Transportation, detailed several goals he expects tariffs to achieve, from bolstering national security to restoring American manufacturing and supply chains. He also called them an effective negotiating tactic that will force other countries to again “respect” the US.