Following is the transcript of an interview with the Secretary Hardnick Secretario which Airten on “makes nation with Margaret Brennan” on July 2025.
Margaret Brennan: For more about the trump administration administration policy, we go to the Secretary Secretary, Howard Lutnick. You’re welcome again to face the nation, the sistory Lord,
HOWARD LUTNICICICICAL SUBERMAND: Fantastic be there.
Margaret Bennan: and heard, he intended everywhere of the perceptions of the economy; 61% of administration believes administration, put too focus, 70% to say that the administration is not enough for the lowest prices, and 60% of the important goods. This is a center of your policy plan. How are you reversing public opposition?
Sec. Lutnick: They have to love offers that the President Trump and I do. I mean, I’m just to love you. You know, the President realize the right answer, and sent letters to these countries, he said this is going to the definition of trade. This varying a long-term departing the comb of the commerce, and that is oight of these countries to the table and open their markets or go to pay the fees. I figure out his markets, the opportunity of Americans to especially consignment, farmers, farmers, fishing, this will be brushed of registration books. The President Trump will bring for American people.
Margaret Brennan: next two weeks for region books, because you have august 1 1 August 1. But, the President Trump sent letters to most of the trade books add the fees of the agroffu’s fees tell us about Canada, one of the big. Her first minister said this past week, there is no evidence that can get a business trade with the US that avoids fees. Is your message to Canada, The Secretary Lord, who no matter what the negotiation table, the free trade is gone, there will be a fee in place?
Lutnick: Now, see, it’s stupid. We have a plan called usm. US-Mexico Agreement. Practically 75% of all goods coming from Mexico and Canada already in fees. The President said to see, unless you are dragging and close the border, we are only to maintain the fees on the other 25% and what he / she is not comfortable with it. The president understand that we need to open the markets. Canada is not open to us. They need to open their market. Unless they are willing to open their market, they go to pay a fee. Here’s a simple message the president has. Is the right trade. Is the reciprocal trade. Why should we have our country open in opening while it’s closed? This is an 80-year error that the President Trump tests to repair, and our devies are really, really pleased. I think the president will open between three and $ 400 billion opportunities for Americans. That’s the 1.5% – up to 1.5% BED growth, because the President will open all these sarts. You’ve seen it with the Vietnam. You’ve seen it with Indonesia. Go to watch all these other countries decide if they want to do business with America, let’s go to our market until America. That’s the opportunity that President Trump is to bring.
Margaret Brennan: Well, we look at the natural people with those villages you only mentioned, but again canadian’s minister, has neglied with it there will be a fee there. There are already 10% of 10% of the basis we see from administration. Is placed in the stone, or go to 15 or 20%?
Sec. Lutnick: Well, I think that you have, you know the small countries, you know the lateramic countries, the US countries, numbose the caribbean, money charged 10%. And then the biggest economies will perman or pay a fair fee for America for not opening and treating the America unfair. So that the President’s view is, and what has held to ordered it makes it really says your economy and the gates and trades and better treatment. But if you are keeping your fees and your fees hold you, then it seems to be able to pay a fee to make the business of the US Customer of American consumer.
Margaret Brennan: okay, so right soon, you’ll be renegating that free business, the usm.?
Lutnick: Oh, I think the priest is absolutely the USMCA reindees, but this is a year from today.
Margaret Brennan: Exactly.
Lutnick: Sure, 75% come in free, but of course you have to hope us strenght? Makes perfect sense for president to rewind. He wants to protect American jobs. You don’t want to build in Canada or Mexican when they could be built in michigan and ohio. It’s only better for US workers. President took American workers. That’s why they’ve elected it. That’s why the stock is in high quality. They understand the president really understand the business and stops the right way.
Margaret Brennan: Well, okay, let me ask you of Europe. Airppanes Boeing, borrower of Kentucky. Here are some of the things the Europeans are trying to target if we arrive in a business war as revival of them –
Sec. Lutnick: – – won’t go –
(Crosstalk begins)
Margaret Brennan: You just met with–
Sec. Lutnick: – – he’s not just doing this-
Margaret Brennan: – the European trading shop. A spice of downbat. Don’t dissatisfia you think we are going to get a trait with the European Union?
Lutnick: You know, I was on the phone with the trade trade negotiations this morning about half a half hour ago, so there is a lot of space. Look at the President and European Union, are the two more matches of the world trade in the world by talking to each other. We’ll have a deal done. I am confident that you get a deal done. Okay, and it will be nice to am america, because the president has the return of America. So I think all these keywords should do better to open the US markets of America that to pay a significant fee, and Donald Trump has done that clear point. No one has protected america the Donald Trump’s Mode has got America. It’s so fun to work for him, because I give it back to you, and what I can do for these stores you’ve ever seen for America and American people.
Margaret Brennan: is the 1 of the 1st 1st of the EU a hard term? You are going to get a deal since it was alone on the phone?
Sec. Lutnick: I can’t hear anything.
Margaret Brennan: can you can- you can hear me, Mr. Secretary? It seems that your shot just join on my end. It seems that our remote shot with the Secretary is frozen. Then we’re going to take a business break, try to solve, and try to end a conversation on the other side of it.
(Merry break)
Margaret Brennan
Now, we want to go back to the undergarment of the submerce, which one you believe can hear me now. Lord Secretary?
Sec. Lutnick: I can hear you now
Margaret Brennan: Alright, but to climb in front of technical issues, 5 hours of the August, it’s a hard lasting with EU, or that true to melt?
Sec. Lutnick: no, no, it’s a hard term. Therefore, August 1, the new Raie Pudes come., Don’t stop at all from talking to 1 of August XVIE. Now it’s been to pay at the next month, what is in degree of more 30 you have to remember this is going to pay the deficit. This has to make America stronger. We are finally protect America.
Margaret Brennan: Well, you will have that entrance if you keep in place. But, if you are negotiate away then they will not be there. So I who is contradictive for me. But –
Sec. Lutnick: No, no, no, no, no. –
Margaret Brennan: – so don’t negotiate the fees? –
Sec. Lutnick: Nothing is truth. We have 10% of the world. No, no. 10% is definitely to stay. Many countries will pay higher, like Vietnam and Indonesia, right? There are 19 and 20%. Most countries will pay higher. The small countries are likely to be 10%, but the largest countries are likely to pay higher. It’s just as it will, because we cannot have these $ 1 Trillion SOME DRAWING. It’s just wrong for America, and Donald Trump will solve.
Margaret Brennan: and American corporations are only in troders that, and not to get your increasing increase in consumers? What is your projection?
Sec. Lutnick: that’s so interesting is that you are worried about the important. How about the people who build and employ americans here? –
Margaret Brennan: – No I ask about people who go to the store to buy –
Sec. Lutnick: People who make cars here, people who make up there. They do not pay a fee. They do not pay a fee. So the President Trump says all the time, build up in America, you don’t pay a fee. The idea that these important are more important than people who employ US Americans, I’m just a wrong way of thinking about it. Americans deserve to be employed here and have the best jobs in the world, and that is what donald trump trips to bring.
Margaret Brennan: asked the consumer prices, that people will pay when they go to the store –
Sec. Lutnick: they will be low. I think it will be low, shockingly lower,
Margaret Brennan: Okay. The consumer’s price index has not reflecting this, however. That – the trend is toward taller.
Sec. Lutnick: Well, came, what would it be? A tenth of a percentage? –
Margaret Brennan: – two-Tims on the heart –
Sec. Lutnick: Look, the dollar declined more than 10%, now? So, the dollar dollar of the dollar of the software fees completely. These are small numbers. Go to see, inflation does not have to change. Remember, inflation is an expectation of the rates they continue to grow. Fees will simply be reset the price of price for importations, for certain importantities to certain villages. But everyone was building in America. And remember donald Trump announced more than $ 11 trillion building in America. All they build in America, construction tasks here. But then, when they have shi reached these products, if I get much cheapest. The energy is cheaper. I think you’ll go to see the inflation is right where it is. And Jerome Powell has held these rates in too high, way too high. Go to see the cut rates. Fed has to go to rates. Mortgages should be cheaper, and America will be very better under Donald Trump.
Margaret Brennan: We are reporting Treasury’s secrector is talking out of his threat to fire the chair, as suspended is already declined, to be feef. Tell us about tonight or today that is not under a threat, who will keep their work?
Sec. Lutnick: President is an incredibly transparent person. When you think something, he says. So he said, look, this guy makes the worst job. We have interest rates the same gabon. You know, Europe- Europe, the 27 US countries of Europe are in the twos, and we are forcefully. That means your mortgage, all see, the mortgage is two point higher than it should. So the Fed must cut the rates, and Donald Trump will try to understand how it gets. Either decide- if he decides to let the jerome powell bag standing at work or not, I will leave that Donald Trump. I think the guy makes the worst job. He captured of us, you, and american, more than $ 500 billion. I think it costs 700 billion a year to keep the rates too high. It’s just wrong. I am not because he is torture America in this way. Our taxes must be lower.
Margaret Brennan: has Unilaterononononon if established these taxes, but we have to leave here. We are out of time. Mr. Secretary, Thank you to join us and fish through Technical Technical problems we had.