Lutnick on Tariffs: The Idea Is That We Can Manufacture Here in America

RUSH TRANSCRIPT:
KARL: “The president also said there’s going to be a transition cost, transition problems. We are going to see higher prices in America. It’s not like you can open a factory tomorrow to build iPhones or to make sneakers, shoes. We buy a lot of shoes in this country. 99% of them are made elsewhere. Are we going to become a nation of cobblers again? This is going to mean higher prices, isn’t it?”

LUTNICK: “I mean, have you seen — I don’t necessarily think so. I think the idea is that we can manufacture here in America. As I said, I saw Panasonic, the battery company, the Japanese company it built an amazing factory in Kansas, which they’re opening now. They put it in the ground when Donald Trump was the president, just finishing now. 4,000 new jobs built from deals with community colleges nearby and all the local community and the local university. They trained people for this. 4,000 high-tech jobs in Kansas. That is what’s coming back to America. You’re going to see that production, that kind of high-tech factories here at very reasonable prices. So I think this is going to work out. Plus, our farmers are going to finally have access to the world’s markets. Our farmers have never had the opportunity to sell corn in India. As they sell more and more products, prices will come down.”

KARL: “Mr. Secretary —“

LUTNICK: “It’s lower prices. You’ll see lower prices in America on lots of different products.”