Commerce Secretary Lutnick emphatically shoots down recession concerns and reveals how Canada, Mexico can get tariffs lifted

Commerce Secretary Howard Lutnick emphatically rejected the risks of a recession even as markets slide — and said America’s biggest trading partners could easily avoid Trump’s twice-delayed tariffs.Lutnick, 63, was asked if he was worried about the US sliding into recession Sunday on NBC’s “Meet the Press” — and gave an unequivocal answer.“Absolutely not.

Anybody who bets against Donald Trump, it’s, like, the same people who thought Donald Trump wasn’t going to win a year ago.Donald Trump is a winner,” Lutnick said.“There’s going to be no recession in America.

What there’s going to be is global tariffs are going to come down,” the commerce secretary added.“You are going to see over the next two years the greatest set of growth coming from America.”Goldman Sachs has forecasted that the risk of a recession has jumped by 20% over the next 12 months amid tariff-induced angst.Lutnik also explained that Trump’s decision about whether to keep the tariffs in place is contingent on Canada’s, China’s and Mexico’s behavior.Last Tuesday, the Trump administration slapped 25% across-the-board tariffs on Canada and Mexico, as well as a 20% across-the-board tariff on China.

Trump, 78, did so under the International Emergency Economic Powers Act, which gives the president broad powers to use tariffs during emergency situations.The justification for these tariffs is the smuggling of deadly fentanyl into the US and — in the case of the US neighbors — the illegal immigration crisis.

Back in November, Trump gave an ultimatum to the three countries to stop the flow of the synthetic opiod, or else face sweeping tariffs.Markets have been rattled by the tariffs, which impact some $1.5 trillion worth of goods and services.The Dow Jones Industrial Average shed roughly 1,098 points during the past week, while the S&P slipped 198 points and Nasdaq lost 727 points over the same timeframe.“This is the way you run the country,” Lutnick ar...