Crowd's Response to Howard Lutnick's Price Rise Question Goes Viral
A crowd rejected Commerce Secretary Howard Lutnick's remark that Americans are experiencing "no pain" over tariffs, and footage of the exchange has taken off online.
Newsweek has contacted the Department of Commerce for comment outside regular working hours.
President Donald Trump's tariffs, primarily those on Chinese imports, have been tied to increasingly gloomy assessments of the U.S.'s economic outlook, as well as fears over higher inflation and broader damage being done to the country's business community. Prior to the tariff pause announced earlier this month, port authorities warned that tariffs on China could lead to empty store shelves. Despite the temporary reprieve, major retailers such as Walmart have said they will need to raise prices to absorb the import taxes.
Trump and his administration have maintained that tariffs are a necessary measure to correct historic trade imbalances and foster a resurgence in American manufacturing, while acknowledging that there may be some short terms shocks to the economy. Others within the president's circle-Lutnick being key among them-have denied that Americans will feel any negative effects from the policy.
Speaking at Axios' Building the Future event in Washington on Wednesday, Lutnick said of the tariffs: "This is on since April. It's not that the tariff is coming; it's on."
"Have any of you felt any of it?" Lutnick asked, to which several audience members responded with an audible "yes."
The footage has gathered thousands of views on social media. In the full conversation posted on Axios' YouTube channel, the audience's response is more muted than in the widely shared clip, though it remains audible.
On April 9, Trump announced a 90-day pause on most nations' reciprocal tariffs. On May 12, China and the U.S. jointly announced a similar reduction in the rates placed on each other's imports. Chinese imports are subject to a 30 percent import tax-down from 145 percent-until mid-August as the two countries engage in more comprehensive trade negotiations.
Surveys have found stark concerns among American consumers about the anticipated effects of the trade measures. The University of Michigan's Consumer Sentiment Index fell to 50.8 in May, marking a 30 percent decline since January, with the majority of those surveyed mentioning tariffs in their responses. Year-ahead inflation expectations, meanwhile, spiked to 7.3 percent from 6.5, the highest reading in decades.
The University of Michigan said the results were largely gathered before the pause in U.S.-China tariffs, adding that those gathered after continued "to express somber views about the economy."
It continued, "The initial reaction so far echoes the very minor increase in sentiment seen after the April 9 partial pause on tariffs, despite which sentiment continued its downward trend."
Additionally, 54 percent of U.S. companies said they would have to raise prices to absorb the cost of tariffs, according to a survey conducted by the insurance company Allianz, up from 46 percent prior to the "Liberation Day" speech Trump gave on April 2.
Commerce Secretary Howard Lutnick said at Axios' Building the Future event on Wednesday: "You go to the store now. Are you feeling the pain? No. Why not? Because there is no pain. Because what happens is the sellers, the producers, the sellers and the currencies change, and the price effectively mostly goes away."
Acknowledging the audience's response, Lutnick later added: "I agree with you. The Chinese tariffs caused pain last month. I agree, and I feel horrible about it, and the president felt horrible about it. But we had to fight the fight, OK? The president has to stand strong, and you can't fix things in a day, OK? And that's still going. But I would expect that prices in America will be unaffected."
The pause on reciprocal tariffs announced on April 9 is set to end in early July. During this window, the administration is hoping to strike favorable deals with countries that would bring their eventual rates down.
Treasury Secretary Scott Bessent told CNN last week that the U.S. was focused on negotiating with 18 "important" trading partners and that if countries failed to secure a deal, their rates would revert to those Trump announced on April 2.
Tariffs on Chinese imports are set to remain at 30 percent until August 10, barring any reescalation in the trade war.
Related Articles
Trump Admin's New Launch Date For $5 Million 'Gold Card': ReportTrump Adviser Says People Out of Work Due to Tariffs Should Be 'Optimistic'Fashion Nova Trolls Shein Over Trump Tariff Price HikesTrump's Tariffs Are Starting to Bring in Revenue
2025 NEWSWEEK DIGITAL LLC.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
29 minutes ago
- Newsweek
Gavin Newsom Challenges JD Vance: 'How About Saying It to My Face?'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. California Governor Gavin Newsom on Friday challenged Vice President JD Vance to a debate after the vice president visited Los Angeles and accused him of "egging on" violent disorder in the city. In a post on his X, formerly Twitter, account, the governor wrote: "...Since you're so eager to talk about me, how about saying it to my face?" Newsweek contacted Vance for comment on Saturday via email to the White House press office outside of regular office hours. Why It Matters U.S. Immigration and Customs Enforcement (ICE) and the Department of Homeland Security (DHS) have expanded their operations in Los Angeles and across the country as President Donald Trump seeks to deliver on his campaign promise to carry out the largest deportation operation in United States history. ICE conducted raids in Los Angeles and faced large protests in the city that largely remained peaceful with some instances of violence that prompted Trump to order the deployment of 4,000 members of California's National Guard and 700 U.S. Marines to assist in stopping violence, even as Newsom and Los Angeles Mayor Karen Bass insisted local law enforcement had the matter under control and a legal battle has pursued. The raids are following legal directive from federal authorities, but critics have raised concerns about the treatment of migrants by federal authorities as well as the tactics used by immigration agents during the raids. What To Know During his visit to Los Angeles on Friday to meet with troops, including Marines who have been deployed to protect federal buildings in the city, Vance said rioters had been "egged on" by Newsom and Bass, telling reporters: "The president has a very simple proposal to everybody in every city, every community, every town whether big or small. If you enforce your own laws and if you protect federal law enforcement, we're not going to send in the national guard because it's unnecessary. He added: "But if you let violent rioters burn great American cities to the ground, then of course we're going to send in federal law enforcement to protect the people the president was elected to protect." Vance also referred to Senator Alex Padilla, a California Democrat who was handcuffed and forcibly removed from a press conference DHS Secretary Kristi Noem was holding in Los Angeles earlier this month, as "Jose Padilla." Noem has said Padilla did not identify himself when he arrived at the conference, but Padilla disputes the claim. Responding on X, Newsom wrote: "Hey @JDVance — nice of you to finally make it out to California. Since you're so eager to talk about me, how about saying it to my face? Let's debate. Time and place?" In a separate X post, the governor shared a clip of Vance calling Padilla "Jose Padilla," adding: "JD Vance served with Alex Padilla in the United States Senate. Calling him 'Jose Padilla' is not an accident." California Governor Gavin Newsom speaks on March 26 in Los Angeles. Vice President JD Vance addresses the press following a tour of the multiagency Federal Joint Operations Center at the Wilshire Federal Building on June... California Governor Gavin Newsom speaks on March 26 in Los Angeles. Vice President JD Vance addresses the press following a tour of the multiagency Federal Joint Operations Center at the Wilshire Federal Building on June 20 in Los Angeles. More Frazer Harrison/WireImage/Scott Olson/GETTY What People Are Saying Referring to the Padilla incident, a Vance spokesperson previously told Newsweek that: "He must have mixed up two people who have broken the law." Los Angeles Mayor Karen Bass said: "Mr. Vice President, how dare you disrespect our senator. You don't know his name," Bass questioned. "But yet you served with him before you were vice president and you continue to serve with him today, because the last time I checked, the vice president of the United States is the president of the U.S. Senate." She added: "You serve with him today and how dare you disrespect him and call him 'Jose.' But I guess he just looked like anybody to you. Well, he's not just anybody to us. He is our senator." President Donald Trump wrote on Truth Social last week: "I campaigned on, and received a Historic Mandate for, the largest Mass Deportation Program in American History. Polling shows overwhelming Public Support for getting the Illegals out, and that is exactly what we will do. As Commander-in-Chief, I will always protect and defend the Heroes of ICE and Border Patrol, whose work has already resulted in the Most Secure Border in American History. Anyone who assaults or attacks an ICE or Border Agent will do hard time in jail. Those who are here illegally should either self deport using the CBP Home App or, ICE will find you and remove you. Saving America is not negotiable!" What Happens Next? Vance has yet to respond to Newsom's offer of a debate and it remains to be seen if he will do so. In December 2023, Newsom debated against Florida's Republican Governor Ron DeSantis after the two went back-and-forth on their policies. Meanwhile, a U.S. appeals court on Thursday unanimously blocked a lower court ruling that put Newsom back in control of National Guard troops that Trump deployed to Los Angeles. The appeals court ruled that the president can keep control of the guardsmen while legal proceedings in the case continue.
Fox News
35 minutes ago
- Fox News
Israeli hostage families make desperate plea to Trump as 'time is running out'
JERUSALEM—The family members of Israeli hostages held in captivity by the U.S.-designated terrorist movement Hamas published an open letter on Thursday to President Trump, urging him to intervene to help free the 53 remaining people held in Gaza. "As Iranian missiles streak across the sky above us, our hearts remain consumed by thoughts of our beloved family members enduring brutal Hamas captivity. 53 precious souls—our children, parents, siblings, and spouses—remain trapped in hell. "For over 620 endless days, they have had no shelter, no family's embrace, no whispered words of comfort. Their time is running out. We write to you united in this unique anguish, yet bound by unshakable faith in your leadership and commitment to bringing our loved ones home," wrote the Israeli group Hostages and Missing Families Forum on the social media platform Truth Social -Trump Media & Technology Group (TMTG) is the parent company of Truth Social. The family members urged the President to "seize the opportunity while Iran and Hamas are at their weakest point." President Trump secured the freedom of the 21-year-old American-Israeli Edan Alexander from Hamas captivity on May 12. Eden returned to his hometown in New Jersey on Thursday after nearly 600 days in captivity. Fox News Digital sent press queries to the White House and the U.S. State Department, seeking comment about the open letter published on Truth Social to President Trump. Israel's Prime Minister Benjamin Netanyahu told reporters at Soroka Hospital in Be'er Sheva—the site of an Iranian missile strike—that "The real barrier of Hamas is Iran. It will bring down Iran . . . Hamas is dying, and it will undoubtedly help to return the hostages." Netanyahu said Israel's military campaign against the Islamic Republic of Iran is aiding the Jewish state's efforts to secure the release of hostages held by the Iran-backed Hamas terrorist organization in Gaza. He added, "I do not close my eyes for a moment" about the hostages. Netanyahu told Isarel's Kan public broadcaster that "Hamas relies on Iran." Hamas' recalcitrance about agreeing to a ceasefire that would enable the hostages to be released has been the major obstacle for America's efforts to secure their freedom after 623 days of war. Hamas invaded Israel on October 7, 2023, and massacred over 1,200 people, including Americans. and kidnapped more than 250 people. Netanyahu stressed, with respect to the hostages and the war against Iran, that "I am determined to bring all of them home . . . I will not give up on this, and there are also steps that we will take in these moments for this goal. . . . The destruction of the nuclear weapons, the destruction of missiles, the elimination of our targets." The Hostages and Missing Families Forum Headquarters released a statement from family members about the burial of murdered hostage Yair Yaakov on Friday, who was laid to rest at Kibbutz Nir Oz after 623 days in captivity. Or Yaakov, Yair's son, who was released from Hamas captivity as part of a deal, said, "Dad, you were such a special person. An exemplary father, a true friend. You left behind an enormous void that nothing will ever be able to fill. But I promise you, I will keep your memories alive within me. I will tell your stories, I will laugh at and with your jokes, and most importantly, I will live the way you would want me to live - with flow, simplicity, and contentment. Rest in peace, my dear father. You will always be in my heart, with every breath I take. I love you forever." The Times of Israel reported that the operation to recover Yair Yaakov was carried out by the army's 36th Division following precise intelligence from military and security intelligence. Reuters named Aviv Atzili as the second person recovered during the operation. Atzili, a warrant officer in the reserves and a member of Kibbutz Nir Oz's civil defense squad, was killed battling Hamas-led terrorists in the Gaza border community on October 7, 2023.
Buzz Feed
40 minutes ago
- Buzz Feed
Trump Asks White House Workers If They're Undocumented
This week, Donald Trump held a press conference on the White House South Lawn to show off his new gigantic American flag pole. While surrounded by a group of White House service workers, a reporter questioned Trump about his policies surrounding ICE raids at worksites, and that's when things got extremely awkward. "DHS said this week that worksite enforcement would remain in place, that it's a cornerstone, so what's your message to farmers?" a reporter asked Trump. "We gotta get the bad people out of here first. We're doing that. We're taking them out by the thousands. Murderers, drug dealers, uh, people that are mentally insane from insane asylums," Trump replied. He then turned around to face the service workers and asked: "Any illegal immigrants here? No? I'll tell you what, if they were, they'll find out," he said, gesturing towards the press. "They'll be checking you, you won't believe. You're whole life will be destroyed because of this press conference. They'll destroy these people." Some of the workers laughed as Trump continued: "I didn't want to tell them that before they stood out. They'll end up being, he's so-and-so, and this one is from you know where. Don't worry, I think you're going to be ok," Trump said, chuckling. "How the F*CK is this funny???" this person asked. "What a disgusting question. If someone had said yes, would #donaldtrump go and get Holman?" another person wrote. This person called Trump, "Fucking shameful." "Trump says the lives of the construction workers with him would have had their lives destroyed if they were 'illegal.' He knows he's destroying lives, and jokes about it. He's deporting working people and destroying their families. This BS about 'insane' immigrants is disgusting," another person wrote. What are your thoughts? Let us know in the comments.
