Howard Lutnick, Trump Commerce secretary pick, says it's 'nonsense' that tariffs cause inflation
Fox News
President Donald Trump’s nominee to lead the Commerce Department, Howard Lutnick, told senators the argument that tariffs cause inflation is "nonsense" during a confirmation hearing.
"A particular product's price may go up," he conceded, while arguing that levies would not cause broad inflation. "It is just nonsense to say that tariffs cause inflation. It’s nonsense."
Lutnick testified before members of the Senate Commerce, Science and Transportation Committee ahead of an impending committee and full Senate floor vote to confirm him to the Cabinet position.
Inflation, which ticked as high as 9.1% in June 2022 under the Biden administration, became a defining issue in the 2024 election as Trump promised to bring household prices back down.
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