Despite a significant downturn in the global stock markets, the Trump administration is committed to continuing its strategy of reciprocal tariffs against key U.S. trading partners. This statement was made by Commerce Secretary Howard Lutnick during an appearance on CBS’s “Face the Nation” on Sunday.
The stock market has faced steep losses in the United States and internationally following President Trump’s announcement of extensive tariffs on April 2. In addition to implementing a 10% tariff on all imported goods, the president revealed that elevated tariffs on imports from 57 countries will take effect on April 9.
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“The tariffs are on their way. He announced it, and he is serious about it. The tariffs are coming,” Lutnick confirmed during his interview.
He also clarified that the White House has no intentions of delaying the implementation of these tariffs.
“There is no postponement. They are definitely going to be enforced over the coming days and weeks,” Lutnick stated. “The president needs to recalibrate global trade dynamics. Currently, everyone has a trade surplus while we face a trade deficit.”
In the two trading days since the announcement, global stocks have experienced a loss of approximately $7.46 trillion in market value, as per S&P Dow Jones Indices, which assessed the market capitalization of the S&P Global Broad Market Index.
Lutnick’s remarks align with those of Treasury Secretary Scott Bessent, who emphasized on NBC’s “Meet the Press” that the Trump administration plans to maintain its course on tariff imposition.
