Bloomberg Talks US Commerce Secretary Howard Lutnick Talks Tariffs
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Mar 13, 2025 
Howard Lutnick, former US Commerce Secretary under Trump, dives into the controversial realm of tariffs and national security. He defends the 25% tariffs on steel and aluminum, arguing they protect US interests, while criticizing Canada's retaliatory measures as 'tone deaf.' Lutnick also emphasizes the need for balanced trade relations with allies like Canada and the EU, illustrating the complexities of U.S.-China trade dynamics, especially regarding fentanyl and drug control, which are pivotal to national safety.
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Tariffs and National Security
- The US imposed tariffs on steel and aluminum imports for national security reasons.
- Canada responded with tariffs on sporting goods, which Lutnick calls "tone deaf."
USMCA and Tariffs
- The USMCA trade deal remains intact for goods with sufficient US content.
- Tariffs apply to goods outside this agreement and those deemed essential for national security.
Trump's Trade Approach
- Trump's approach aims to rebalance American trade and bring jobs home.
- The EU and Canada's retaliatory tariffs are seen as disrespectful.