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Benzinga

Benzinga

US Politics

US Politics

Trump’s reciprocal tariffs will cause short-term pain, but long-term gain, says Commerce Secretary

Benzinga
Summary
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67% Informative

Commerce Secretary Howard Lutnick believes the Trump Administration’s reciprocal tariffs will cause some short-term pain, but ultimately result in medium- and longer-term gain.

Economists fear the tariffs will spark a U.S. recession and global trade war.

America is going to become the producer of a lot more goods it consumes, interest rates will be lower and the American economy will be much stronger over the longer term.

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