President Donald Trump is using tariffs on countries all over the world, according to Commerce Secretary Howard Lutnick, insisting that the United States needs to produce its own products.
Lutnick’s statement was made in answer to whether or not the leader has the legal authority to impose taxes. He claimed that Trump “knows the laws” and that Congress has passed legislation that would let the president to “protect our national safety.” He claimed that the United States must produce its own medicines, electronics, and other items, and that those who disagree are” never thinking it through”.
On ABC News’ This Year, Lutnick said,” If we just run giant trade deficits and offer our mind to the rest of the world, we will ultimately be the employee for the rest of the world.” We’re going to be the intellectual for the rest of the world, but they’re going to make it, and if they say,” Gee, we’re not sending it to you,’ we’ll get nothing.” But, I believe the president is here to defend America and has national safety in mind. We are all aware of this need to be repaired.
The Commerce Secretary countered concerns that the confusion in the economy might be lowering the value of the U.S. dollars, claiming that the Trump presidency is focused on delivering” the best thing for the American people” and lowering its tariff burden. He added that” but some nations” are negotiating the taxes with the United States.
BOOKER REQUIRES CONGRESSIONAL HEARINGS FOR ACCESSIBLE INSIDER Buying OVER TARIFFS.
Sen. Elizabeth Warren (D-MA ) made the suggestion on Sunday that the Senate could use its own legislative authority and that senators “don’t have to wait for the courts to step in” and halt the president’s tariffs. She has also predicted a crisis as a result of the tariffs, saying that “prices may go up and people will lose their jobs” and that others will never be able to fully recover.
The Trump administration has exempted phones and other gadgets from these taxes as a result of the government’s wait in imposing the majority of his. Trump just countered that those goods are still subject to a 20 % tax and are not exempt from that.
