US Secretary to Trade Howard Lutnick breaks down the reasoning behind a plethora of prices, reacts to commercial criticism and reveals the ultimate objective for the negotiation tactics of President Donald Trump.
Debating the archives directly in the political and economic spheres, the secretary of trade of President Donald Trump reprimanded the fears of the recession and explained how the tariff agenda “plays for the strength of America”.
“The president is there to protect American workers. He is there to protect American industry. We are going to stop this nonsense and bring steel here,” said Howard Lutnick On “Varney & Co.” Wednesday.
“So this concept which,” oh, prices will increase “, you remember, President Trump plays for the strength of America,” he continued.
After taking measures against Mexico, Canada and China, the increase in the 25% price of Trump on All imports of steel and aluminum Officially Wednesday, the latest decision of the administration’s plans to reshape global trade standards in favor of American manufacturing.
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The control extends the tasks to hundreds of downstream products, including nuts and bolts, bulldozer blades and soda cans. He also provoked reprisals from the European Commission, which announced shortly after Trump’s prices took effect that he would impose prices against the equivalent of $ 28 billion in American goods from next month.
The American trade secretary, Howard Lutnick, said that “nothing” would stop the end of Trump’s price on “Varney & Co.” Wednesday. (Getty Images)
“I therefore think that the president considers that steel and aluminum are fundamental for our national security. I mean, we cannot be in a war and count on the steel and aluminum of another country,” said Larick. “It’s just not reasonable.”
“So the president wants steel and aluminum in America. And let me be clear – nothing will stop this until we have a large and strong steel and aluminum capacity. And by the way, he will also add copper to this mixture,” added the secretary.
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When the host of Fox Business Stuart Varney stressed that the prices of aluminum, steel and copper have already started to increase and could potentially “Ripple” through the economyLutnick put the burden on the Biden administration.
“Inflation comes from a government print too much money, the Biden administration having a deficit of 2 billions of dollars. You do not get the inflation of a price. Because what a price says, if this is done in Europe, if that is abroad, it could cost a little more. But what is done in America is no more,” he noted.
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The planned production in steel and aluminum only works from 50 to 55%, according to Lutnick, which maintains that the Trump plan is to increase this yield to 80%.
The former CEO of Cantor Fitzgerald and group BGC also responded to a politico article saying that “Trump Allies Blâment Libenick for Trump’s pricing disorders”, citing anonymous sources that say that he acts as a “mini trump”.
“I help him indeed carry out his policy. The economic team is one. We do it together,” said the secretary. “We understand what he wants to achieve. He wants to bring back manufacturing to America. He wants to bring and protect America from certain industries, which he called. And we do it together.”
Eric Revell by Fox Business contributed to this report.
