Lutnick Defends Trump's Tariff Policies, Cites 10,000 Jobs Returned Amid Recession Risk

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Updated Mar 12, 2025, 09:27 AM

Commerce Secretary Howard Lutnick has defended President Trump's economic policies, asserting that they are 'worth it' even if they lead to a recession. During an interview with CBS News, Lutnick emphasized the significance of these policies, stating they are 'the most important thing America has ever had.' He attributed any potential economic downturn to what he referred to as 'the Biden nonsense,' suggesting that Trump's policies would generate revenue, growth, and domestic manufacturing. Lutnick also mentioned that the administration plans to replace the Internal Revenue Service with an 'external revenue system' by generating funds from tariffs. Lutnick's comments come amidst concerns over Trump's tariff announcements, which have caused fluctuations in the stock markets. He specifically addressed the tariffs on Canada, Mexico, and China, noting that the U.S. has decided not to double tariffs on Canadian aluminum and steel, maintaining them at 25%. Lutnick described Trump's tariff strategy as a negotiation tactic, dismissing claims of chaos and arguing that it is a calculated approach to ensure fair treatment from trading partners. He also highlighted that on April 2nd, President Trump will officially announce his reciprocal tariff policy. Despite the economic turbulence, Lutnick remains confident in Trump's leadership, suggesting that the markets will adapt to the president's negotiation style. He also mentioned that Trump's policies, including fentanyl tariffs aimed at stopping drugs, are aimed at reshaping the economy by shifting the financial burden to foreign entities and bringing manufacturing jobs back to the U.S., with 10,000 jobs already returned in Trump's first month.

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Sources

politico.com(3)thedailybeast.com(2)cbsnews.com(2)axios.com

Special Situations 🌐 Research Newsletter (Jay)

@SpecialSitsNews

Lutnick may get canned for the tariff communications disaster https://t.co/BnvighBqaR

The Daily Beast

@thedailybeast

Some allies of Donald Trump have become displeased with Commerce Secretary Howard Lutnick. https://t.co/eqHrP2N1tu

@AitkenAdvisors

On CBS News Tuesday night, Lutnick defended the administration's rollout of its trade policy, saying: “It is not chaotic, and the only one who thinks it's chaotic is someone who's being silly." I see. Lutnick’s interventions are precisely what you’d expect when the head of…