Commerce Secretary Nominee Defends Tariffs

This is a U.S. news story, published by Global News, that relates primarily to Howard Lutnick news.

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Trump commerce pick defends tariffs, hints at fight with Canada over dairy - National | Globalnews.ca

Summary

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74% Informative

Billionaire financier Howard Lutnick denies tariffs will be inflationary.

He says they are meant to compel border security improvements from Canada and Mexico to crack down on fentanyl trafficking.

Lutick says he prefers tariffing entire countries, rather than specific products, to “create reciprocity, fairness and respect” The Bank of Canada released an analysis Wednesday that found universal tariffs on foreign imports to the U.S. increase prices.

Lutnick repeatedly stressed the need for North American manufacturing to be re-centered to the U.S. during his confirmation hearing Wednesday .

Trump has openly mused that “we don’t need” Canadian dairy products and other key imports like automobiles, lumber and oil and gas.

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semi-formal

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English

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