Cantor Fitzgerald’s CEO Howard Lutnick stated that the United States is terrifyingly treated in the global market.
Commerce Secretary’s Candidate Howard Lutonic proposed a “full -scale” tariff during the Senate confirmation hearing on Wednesday, sought a relationship with the US trade relationship.
“My way of thinking and what I talked to with the president was a macro (tariff) for each country. Let’s make the United States more fair,” Lutonic said. “We are terrifyingly treated by the world trade environment. All of them have customs duties, non -duty -based trade barriers, and subsidies.”
LUTNICK acknowledged the hostile relationship with Beijing and called for the best tariff on China’s import.
“How you treat us is a way you expect to be treated by us,” Lutonic said. “I think we have removed (China) from the hook for too long. They have been treating us terribly in China, but we made us get rid of them. It must end. “
As Report of Economic Policy Research Institute The entrance to the World Trade Organization in China was expensive to hire 3.7 million in the United States from 2001 to 2018. Of the lost work, three -quarters of the manufacturing industry were important routes for adults who had not received university education to enter the middle class.
“I have a very yellow viewing view in China,” Lutonic said when he was asked how to respond to the Chinese threat to the economic success in the United States. “We need to protect ourselves as they care about themselves and try to hurt us. We need to promote innovation and stop helping them. there is.”
Technology competitions in the United States and China have recently been in the news cycle as a Chinese artificial intelligence app. Deepseek Despite the US export management in the next generation of computer chips, unexpected abilities have been demonstrated.
“(Macro Tax) helps to bring the supply chain home. These supply chains are needed here,” Lutonic said. “It is essential for semiconductors. It is indispensable for pharmaceuticals. We have allowed the enemy to use us and allies.”
Gary Peter’s Representative (D-MICH) recognized tariffs as “powerful and positive tools,” but warned that it is necessary to use it strategically. Peters pointed out his call 100 % tariffs on Chinese vehicles Last year, his sustainable “fight for aggressive trade policies in terms of China.” He expressed his willingness to cooperate with the Trump administration.
Several members of the committee also asked Lutonic to confirm his support for the continuation of the program funded by Chips and Scientific Law. The Boat’s Law was enacted in 2022 with the aim of raising domestic semiconductor research and manufacturing with $ 53 billion -based funding, which is still distributed.
LUTNICK stated his support for chips investment and stated that it was an excellent down payment to return semiconductor production to the United States, but supported the sequel to the bill to add funds as proposed by the Diet. I couldn’t commit to do it right away. Senator Maria Kantwell (D-Wash) repeatedly thanks the effectiveness of the program and says, “The manufacturing is growing in my state, and chips and science are part of them. And I couldn’t get billions of other states. “
On January 20, President Donald Trump ordered the Ministry of Finance and the US Trade Representative to recommend the Global Supplementary Tax and other measures, and ordered his Balloon US trade deficit. First day trade memo。 The results of the report are scheduled for April.
LUTNICK distinguish between proposed tariffs in Canada and Mexico and macro tariffs, which are scheduled to start. February 1stHe featured as a “domestic policy action.”
