Commerce Secretary Howard Lutnick recently addressed concerns about a potential recession in the United States, reportedly asserting that he does not foresee an economic downturn.
His comments came during an interview where he responded to predictions from major banks that a recession could occur within the next year.
Lutnick emphasized confidence in the American economy, stating, “There’s going to be no recession in America.”
He attributed this optimism to President Donald Trump’s leadership, suggesting that Trump’s approach to trade and tariffs would stimulate economic growth. Lutnick explained that as global tariffs decrease, the U.S. economy would benefit significantly, leading to increased investment and job creation.
He highlighted that Trump’s policies are designed to bring wealth back to America, which he believes will result in substantial economic growth.
Lutnick noted that for every trillion dollars invested in the country, there is a corresponding 1% increase in GDP. This investment, he argued, would lead to a robust economic environment over the next two years.
“Anybody who bets against Donald Trump — it’s like the same people who thought Donald Trump wasn’t a winner a year ago — Donald Trump is a winner. He’s going to win for the American people. That’s just the way it’s going to be.” 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 because President Trump has said, ‘You want to charge us 100%? We’re going to charge you 100%.’ You know what they say? They say, ‘No, no, no, no, no, don’t charge us 100%. We’ll bring ours down.’” he added.
In contrast, former President Trump acknowledged the possibility of transitional economic challenges but remained hopeful about the long-term outlook.
He indicated that while adjustments may occur, the overarching goal of revitalizing American wealth would ultimately lead to positive outcomes.
Lutnick’s comments aim to reassure Americans about their economic future, countering fears of a recession.
He expressed confidence in the resilience of the U.S. economy and the potential for unprecedented growth under Trump’s administration. His statements reflect a broader narrative of optimism regarding economic recovery and development in the wake of recent challenges.
[READ MORE: Trump Signals Tariffs Are Likely to Go Even Higher]
