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The following trade secretary secretary Secretary Howard Lutnick is a transcript of an interview with the nation in 2025, 2025, “said Margaret Brennan.
Margaret Brennan: For more information on the economic policy of the Trump Administration, we are now going to Trading Secretary Howard Lutnick. Mr. Secretary, which came face to face
Trading Secretary Howard Lutnick: Nice to be here.
Margaret Brennan: Well you heard when we choose some of the economies; 61% of Americans have focused on tariffs for the tariffs, 70%, the leadership did not work enough to decrease prices and not opposes new tariffs for imported goods. This is a center in your policy plan. How do you reverse the people’s opposition?
Sek. Lutnick: The President will love Trump and the deals I do. I want to say that they will only love them. You know that the President understood the correct answer and sent letters to these countries, he said he would solve the trade deficit. This will take a long way to make a trade deficit, and these countries won the table and they will open their markets or pay the tariff. If they open their markets, Americans export, businesses, farmers, ranchers, fishermen, will be weeks for the next two weeks, record books. President Trump will surrender for the American people.
Margaret Brennan: The next two weeks for written books, because this is your last date on August 1. However, President Trump sent letters to the majority of major trading partners, which announce higher tariff rates with reliability of August 1. This can result in accounting for imports of three-quarters of the United States. Canada, let’s talk about one of the adults. The Prime Minister said last week that there are many evidence that they could get a trade agreement with the United States to prevent tariffs. No matter what the talks offered at the Negotiation Desk, Mr. Secretary, Mr. Secretary, free trade will be the tariff?
Lutnick: See now, this is stupid. We have a plan named USMCA. US-Mexican-Canadian Agreement. Almost 75% of all goods from Mexico and Canada are exempt from the tariff. The President only has only 25% of the tariffs, if you do not stop this Fentanyl and close the border. So don’t be confused about it. The President understands that we must open the markets. Canada is not open to us. Need to open their markets. If they do not want to open their markets, the tariff has to pay. This is a simple message of the President. This is a fair trade. It is mutual trade. Why should we be wide in our country when we close our country? This is an 80-year mistake that President Trump is trying to repair and our enterprises really enjoy it. I think the president will be an opportunity for Americans between $ 1 to $ 400 billion. This increases by 1.5% to 1.5% to GDP, as it will open all these markets. You saw it with Vietnam. You saw it with Indonesia. All these other countries will follow you have decided to do business in America, just open our market to America. President is the opportunity to bring Trump.
Margaret Brennan: Well, we only saw the framework ads with the countries you mentioned, but said that the Prime Minister of Canada said that he would have a tariff here. This is the main 10% tariff we have already seen from the control. Established in the stone or intend to go up to 15 or 20%?
Sek. Lutnick: Well, I think that in small countries, Latin American countries, the Caribbean countries, many countries in Africa, their primary tariffs will have 10%. And then greater economies will either open themselves or pay a fair tariff to America to avoid unjust treatment. Thus, it is to say what the president’s opinion is and what they will do to me, and actually open your economy to American affairs, fishermen, farmers and enterprises, and then do something better. However, if you will protect your tariffs and tariffs, of course, of course, it seems fair to pay the tariff to do with the largest customer on earth.
Margaret Brennan: Okay, so quickly, do you go to re-thinking the USMCA free trade deal?
Lutnick: Oh, I think the President is going to be completely meeting USMCA again, but today is one year.
Margaret Brennan: Completely.
Lutnick: Of course, 75% of them come free, but certainly if you expect us to think again? The president makes perfect sense to think of him again. America wants to protect their jobs. When Michigan and Ohio are built in Canada or Mexico does not want to build machines. It’s better for American workers. The President received the American employees. Therefore they chose it. Therefore the stock exchange is always in heights. They realize that the president actually understands the work and makes the right way.
Margaret Brennan: Well, okay, I ask you about Europe. Boeing Airplanes, Kentucky Bourbon. These are some of the things that Europeans are taking into a commercial war, we enter the war.
Sek. Lutnick: – I’m not going to do so –
(Crosstalk begins)
Margaret Brennan: You just got acquainted with –
Sek. Lutnick: – I’m not just going to do that
Margaret Brennan: – European trade talks. Out of my department. You don’t agree, do you think we will reach an agreement with the European Union?
Lutnick: You know, about a half hour this morning I was on the phone this morning with European trade talks, so there are many places. See the President and the European Union, these are the two largest trading partners around the world talking to each other. We will get an agreement. I am sure we will get an agreement. Okay and it will be great for America because the president has the back of America. Therefore, all these major countries will understand that the markets are better to open the markets in the United States, and Donald Trump clarified this point. No one from the American Donald Trump protected America. It is very fun to work for him, because I have kept him behind America’s right thing and negotiate it with these countries, and I am preparing to see the best set of trading deals you see for the American and America.
Margaret Brennan: Is the EU final date on August 1? Will you only get an agreement since you were on the phone?
Sek. Lutnick: I can’t hear anything.
Margaret Brennan: You can hear me, Mr. Secretary? It seems that your shot just frozen at my end. It seems that our distant shot is frozen with the secretary. So we will get a trade break, try to fix and try to finish a conversation on the other side of it.
(Commercial break)
Margaret Brennan
We are now, now we want to return to the trading secretary I believe I can hear me. Mr. Secretary?
Sek. Lutnick: Now I can hear you
Margaret Brennan: Everything, but to take the place where we left before technical issues, August 1, is a difficult time with or going to slip with the EU?
Sek. Lutnick: No, no, this is a difficult time. Thus, on August 1, the new tariff rates, after August 1, the countries will not start talking to us, but they will not pay tariffs on August 1. You remember, this intends to pay our shortage. This intends to make America stronger. We finally protect America.
Margaret Brennan: Well, if you do them, it will come. But if you are negotiating, they will not be there. So, I was contrary to me. But –
Sek. Lutnick: No, no, not, no. –
Margaret Brennan: – So you do not negotiate for tariffs? –
Sek. Lutnick: Nothing is negotiable. There are 10% of the world. No, no. 10% goes for absolute stay. Will many countries pay higher as Vietnamese and Indonesia? There are 19 and 20%. Most countries will pay higher. Small countries are likely to be 10%, but larger countries are likely to pay higher. It will be, because we can’t have a lack of $ 1 trillion trading. This is an error in America and the Donald Trump intends to fix it.
Margaret Brennan: and American corporations intend to win only this, and this price does not accept this price increase to consumers? What is the projection?
Sek. Lutnick: That’s why it’s so interesting that you are worried about importers. How do Americans have the Qur’an and hiring? –
Margaret Brennan: – No, I ask about people going to get to the store and go to get –
Sek. Lutnick: People who produce the car here, people who produce here. They do not pay tariff. They do not pay any tariffs. Thus, President Trump is always called, building in America, you do not pay tariffs. Thinking that these importers are more important than people who hire Americans, I think it’s just a way of thinking about it. Americans have the best jobs worthy of work here and are the best jobs in the world and the Donald Trump is trying to deliver.
Margaret Brennan: I asked about consumer prices, what people will pay when people go to the store –
Sek. Lutnick: They will be less. I think they are low, shocked low,
Margaret Brennan: Okay. The consumer price index does not reflect this right now. This is the higher the trend.
Sek. Lutnick: Well, just got up, what went? Tenth of one percent? –
Margaret Brennan: – Two-in in Core
Sek. Lutnick: See, dollars decreased by more than 10%, aren’t it? Thus, the decline in the dollar completely softens a kind of tariffs. These are a small number. You will see, inflation is not going to change. Remember, inflation is an expectation of ratios that continue to grow. Tariffs are going to rebuild the price level for imported importance to certain countries. But everyone built in America. And remember that Donald Trump has declared more than 11 trillion dollars in America. All buildings in America, construction work here. But then, when these products are on the shelves, they become cheaper. Energy is cheaper. I think I think you will see where the inflation is. And Jerome Powell has kept these ratios very high, very high levels. You go to see the rates cut. The Fed will cut the rates. Mortgage loans will be cheaper and will be better under the American Donald Trump.
Margaret Brennan: He said that the Treasury Secretary was outside the threat of firing the department fed the president. Do you say that it is not under threat tonight or today that will continue his work?
Sek. Lutnick: The president is a strange transparent person. Says when something thinks. So he said: See this man is doing the worst. There are interest rates on Gabona. You know, Europe – 27 European countries are in two countries and we are strength. This is higher than two points to have your mortgage, everyone watching, mortgages. So there should be Fed cutting rates and the Donald Trump is going to try to understand how you go there. Decision-decision – Jerome Powell decides to decide or not to stay at work, I will leave it to Donald Trump. I think the guy is doing the worst job. He, you, you and the American people, are more than $ 500 billion. I think it is worth $ 700 billion a year by keeping rates very high. It’s just wrong. I do not know why America tortured this way. Our prices should be lower.
Margaret Brennan: He does not set up these rates in a unilateral manner, but we must leave there. We do not have time. Mr. Secretary, thank you for joining us and thank you for using the technical and technical issues.
