- All of the deals will be incredibly smart and incredibly thoughtful
- If we cut our trade deficit in half, that’s 2 percentage points of GDP
- Americans are going to work in factories as technicians
- You’re going to see the greatest domestic resurgence in auto manufacturing in the next two years, and I’ll wear it
- You’re going to see US export cars from America and you’ll say, “yeah he was right”
- I’m relying on Treasury Secretary Scott Bessent, as we all are, to get a deal done with China
- Trump is not focused on the markets
The GDP math is such a tiresome argument. If you gain on the trade deficit by charging people people $2000 for an iPhone built domestically, then they won’t have that money to spend on other domestic goods/services.
As for the interview, aside from Lutnick’s utterly grating delivery, it was fine. The S&P 500 is up 0.7% as today’s bid continue.
Update: Charlie Gasparino from Fox reports this:
BREAKING: @howardlutnick says one tariff deal made as I said there would be. Word on Wall Street is it’s India or South Korea. Developing
The thing is, getting a deal through parliament and past a President isn’t necessarily easy.
This article was written by Adam Button at www.forexlive.com.
