Tariffs
What role will Howard Lutnick play as the newly confirmed Commerce Secretary?
As Commerce Secretary, Howard Lutnick will play a crucial role implementing Trump's America First trade agenda, which relies heavily on tariffs as a negotiation tool. Confirmed by a Senate vote of 54-45, the Wall Street billionaire will oversee the Commerce Department, which advocates for US businesses and restricts technology exports to adversaries like China and Russia. Lutnick will also manage a significant $53 billion program supporting the U.S. chipmaking sector. Working closely with the U.S. Trade Representative, he'll be instrumental in implementing policies aimed at strengthening American exports and using tariffs strategically to promote fair trade relations.
Watch clip answer (00:42m)
WION
00:01 - 00:44
What role will Howard Lutnick play in Trump's trade policy as the new Commerce Secretary?
As the newly confirmed Commerce Secretary, Howard Lutnick will play a crucial role implementing Trump's 'America First' trade agenda, which relies heavily on tariffs as negotiation tools. He will oversee the Commerce Department with its 50,000 employees, advocating for US businesses, restricting technology exports to adversaries like China and Russia, and managing a $53 billion chipmaking sector stimulus program. Lutnick, a Wall Street billionaire and close Trump ally, has expressed strong support for tariffs, believing they create reciprocity, fairness, and respect in international trade. He will work closely with the US Trade Representative to implement Trump's tariff strategy, using across-the-board tariffs to pressure other countries into lowering barriers to American exports.
Watch clip answer (01:31m)WION
00:06 - 01:37
How is President Trump attracting major companies back to the United States?
President Trump is attracting major companies back to the United States through economic measures focused on tariffs, taxes, and incentives. These policies are causing car plants originally planned for Mexico to be canceled and relocated to the US. Companies in the automotive and technology sectors, particularly those involved with chips and car manufacturing, are making momentous decisions to build in America. According to Trump, several of the world's biggest companies have contacted him about returning to the US market. This economic strategy is creating a shift where major manufacturers prefer building facilities in the United States rather than in other countries, with announcements of these company relocations expected in the coming weeks and years.
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Fox News
02:03 - 03:11
What tariff rates does President Trump plan to implement on automobiles and semiconductors?
President Trump indicates that the auto tariff rate will be approximately 25%. For semiconductors and pharmaceuticals, he states the tariff will start at 25% and increase 'substantially higher over a course of a year.' He explains this approach gives companies time to relocate manufacturing to the United States, noting that once companies establish plants or factories in the US, they would face no tariffs. This reciprocal tariff strategy aims to level the playing field in international trade, particularly with the EU, which Trump claims has historically been 'very unfair' to the US.
Watch clip answer (03:17m)
Fox News
03:22 - 06:40
What is causing major companies to express interest in returning to the United States?
According to President Trump, major companies worldwide are expressing interest in returning to the U.S. due to his administration's economic policies, which include tariffs, taxes, and incentives. These measures are creating favorable conditions for businesses to relocate their operations back to America. The impact is particularly significant in key industries such as semiconductor manufacturing (chips) and automotive production. President Trump mentioned that car plants being built in other locations are now being canceled as companies prefer to establish them in the United States instead. He described these developments as "momentous decisions" that will soon be formally announced.
Watch clip answer (00:43m)
Fox News
02:03 - 02:46
When does the Philip DeFranco Show air?
The Philip DeFranco Show airs every Monday, Tuesday, Wednesday, and Thursday at 6pm Eastern/3pm Pacific time. Philip emphasizes this schedule as he wraps up the show, reminding viewers that they can expect a brand new news program on each of these four weekdays. The show covers significant news topics including current events like Elon Musk's influence on federal agencies, plane crashes, and political developments.
Watch clip answer (00:20m)
Philip DeFranco
29:01 - 29:21