Trumps tariffs worth it even if they lead to U.S. recession: Lutnick – National [Video]

U.S. President Donald Trump’s commerce secretary says sweeping tariffs on foreign goods will be “worth it” even if they push the American economy into a recession.

Yet Howard Lutnick told CBS News in an interview that aired Tuesday night that he doesn’t expect a recession to occur, despite a growing number of economists raising concerns.

“These policies are the most important thing America has ever had,” he said when asked if a recession is worth the risk.

“So it is worth it,” interviewer Nancy Cordes asked in response.

“It is worth it,” Lutnick replied, adding quickly: “The only reason there could possibly be a recession is because of the Biden nonsense that we had to live with.”

J.P. Morgan’s chief economist told reporters on Wednesday there was about a 40 per cent chance of a U.S. recession this year, up from the investment bank’s last official forecast of around 30 per cent, due to “heightened concern” about the economy.