Lutnick: Foreign Countries Are “Eating The Tariffs”

NewsNation reports:

Commerce Secretary Howard Lutnick said the current 10 percent tariffs imposed across the board are not increasing prices on consumers. “The world has a 10 percent tariff now,” Lutnick told NewsNation’s “CUOMO” in an interview.

“So, the way it actually runs through the markets is that the selling countries overseas, they eat most of it, the currency as they trade to us, eats the rest of it.”

Lutnick added that the baseline tariff, which President Trump rolled out last month as part of his “Liberation Day” trade agenda, is bringing in $30 billion a month in revenue without raising prices on Americans.

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