Commerce Secretary Howard Lutnick defended President Donald Trump’s tariffs as support wobbled this week over stock market volatility, and he said the end result would be “worth” the economic stumbles.
During an interview with CBS News on Tuesday, Lutnick was pressed on whether there are any concerns the Trump administration’s tariff policies might lead to a recession after the United States and Canada engaged in a power struggle over Ontario’s 25% electricity tariff on Minnesota, Michigan, and New York.
Lutnick contended that any possible economic downturn would be because of the lingering effects of Biden-era policies, arguing that Trump’s tariffs are spurring economic growth in the U.S., encouraging companies to switch investments abroad back to domestic production, and creating new American jobs.
“These policies are the most important thing America has ever had,” Lutnick said, adding that it was “worth it” if such policies led to a recession, although he downplayed the event of an economic downturn occurring…
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