Howard Lutnick on Tariffs: ‘You’re Going to See the Renaissance of American Manufacturing’

RUSH TRANSCRIPT I ve ░░░░░░░░ this movie my entire ░░░░░░░░ Secretary of commerce howard ░░░░░░░░ All right secretary you ░░░░░░░░ known Trump for a ░░░░░░░░ long time have you ░░░░░░░░ this movie before This ░░░░░░░░ his movie that he ░░░░░░░░ been talking about for ░░░░░░░░ years He said we ░░░░░░░░ been ripped off You ░░░░░░░░ go find video of ░░░░░░░░ from 1988 on oprah ░░░░░░░░ about how we are ░░░░░░░░ ripped off He finally ░░░░░░░░ to stand up for ░░░░░░░░ workers stand up for ░░░░░░░░ bring the factories back ░░░░░░░░ and get rid of ░░░░░░░░ national emergency called our ░░░░░░░░ deficit which is outrageous ░░░░░░░░ we are not going ░░░░░░░░ have all factories compact ░░░░░░░░ manufacturing is tough to ░░░░░░░░ back but what kind ░░░░░░░░ manufacturing are you talking ░░░░░░░░ returning here You can ░░░░░░░░ just give that away ░░░░░░░░ s going to happen ░░░░░░░░ robotics are going to ░░░░░░░░ the cheap labor that ░░░░░░░░ ve seen all across ░░░░░░░░ world Think of what ░░░░░░░░ factories did They went ░░░░░░░░ the cheapest labor in ░░░░░░░░ whole world slave labour ░░░░░░░░ labor the worst environmental ░░░░░░░░ polluting the heck out ░░░░░░░░ it and then we ░░░░░░░░ back the cheap products ░░░░░░░░ and we feel good ░░░░░░░░ ourselves because we don ░░░░░░░░ see the pain But ░░░░░░░░ pain is in our ░░░░░░░░ the American workers have ░░░░░░░░ given the raw deal ░░░░░░░░ what s going to ░░░░░░░░ now is we are ░░░░░░░░ to build factories and ░░░░░░░░ and have tradecraft We ░░░░░░░░ have the greatest set ░░░░░░░░ training Our high school ░░░░░░░░ people will be trained ░░░░░░░░ do robotics mechanics It ░░░░░░░░ kind of like a ░░░░░░░░ bmw mechanic you know ░░░░░░░░ just can fix those ░░░░░░░░ you can build air ░░░░░░░░ as an example but ░░░░░░░░ s for a semiconductor ░░░░░░░░ These are great paying ░░░░░░░░ that our Americans we ░░░░░░░░ have 5 million of ░░░░░░░░ jobs coming in America ░░░░░░░░ going to retool it ░░░░░░░░ going to do manufacturing ░░░░░░░░ robotics can so was ░░░░░░░░ You will see the ░░░░░░░░ of American manufacturing because ░░░░░░░░ Trump is bringing it ░░░░░░░░ 6 trillion he said ░░░░░░░░ he s got committed ░░░░░░░░ America It s unbelievable ░░░░░░░░ you said I was ░░░░░░░░ to have five robots ░░░░░░░░ the American worker will ░░░░░░░░ cranking out robots for ░░░░░░░░ Watters Is that the ░░░░░░░░ of high tech manufacturing ░░░░░░░░ will be doing These ░░░░░░░░ manufacturing factories are all ░░░░░░░░ the world They are ░░░░░░░░ high tech like one ░░░░░░░░ says it s going ░░░░░░░░ come back and build ░░░░░░░░ billion worth of plant ░░░░░░░░ equipment here in America ░░░░░░░░ you think it will ░░░░░░░░ with 100 000 people ░░░░░░░░ they do in China ░░░░░░░░ it s going to ░░░░░░░░ robotics and it s ░░░░░░░░ to have 10 000 ░░░░░░░░ but those 10 000 ░░░░░░░░ they will fix the ░░░░░░░░ they are going to ░░░░░░░░ mean these are different ░░░░░░░░ of robots they can ░░░░░░░░ build things If you ░░░░░░░░ to China and look ░░░░░░░░ the factories they have ░░░░░░░░ of thousands of 19 ░░░░░░░░ year olds screwing in ░░░░░░░░ screws into iphones Obviously ░░░░░░░░ computer and a robot ░░░░░░░░ do that Not the ░░░░░░░░ of robot we were ░░░░░░░░ about but the kind ░░░░░░░░ robots you ve seen ░░░░░░░░ in auto factories they ░░░░░░░░ fully automated They need ░░░░░░░░ to fix them to ░░░░░░░░ them Think of all ░░░░░░░░ jobs that Donald Trump ░░░░░░░░ talking about It s ░░░░░░░░ and it s coming ░░░░░░░░ Jesse caught it You ░░░░░░░░ a market guy end ░░░░░░░░ and in the market ░░░░░░░░ decades When you see ░░░░░░░░ like this what makes ░░░░░░░░ does this make you ░░░░░░░░ are you just like ░░░░░░░░ it s another day ░░░░░░░░ s not another day ░░░░░░░░ s the most important ░░░░░░░░ in industrial America We ░░░░░░░░ watched our factories just ░░░░░░░░ away Nafta which the ░░░░░░░░ called out which basically ░░░░░░░░ Canada and Mexico you ░░░░░░░░ have the economic value ░░░░░░░░ a state so of ░░░░░░░░ people moved factories to ░░░░░░░░ and Canada because they ░░░░░░░░ cheaper and easier to ░░░░░░░░ We need to protect ░░░░░░░░ American workers and these ░░░░░░░░ countries you have to ░░░░░░░░ it s not just ░░░░░░░░ tariffs their tariffs are ░░░░░░░░ tip of the iceberg ░░░░░░░░ s the nontariff trade ░░░░░░░░ it s the subsidies ░░░░░░░░ manipulation the rebates it ░░░░░░░░ all sorts of things ░░░░░░░░ don t let us ░░░░░░░░ our beef and our ░░░░░░░░ in You have to ░░░░░░░░ it s the tip ░░░░░░░░ an iceberg The water ░░░░░░░░ the water they just ░░░░░░░░ t let us trade ░░░░░░░░ take advantage of us ░░░░░░░░ Donald Trump finally is ░░░░░░░░ up for America and ░░░░░░░░ know what he s ░░░░░░░░ The operation has happened ░░░░░░░░ was yesterday the patient ░░░░░░░░ t bad and starting ░░░░░░░░ recover but what it ░░░░░░░░ going to do is ░░░░░░░░ s going to create ░░░░░░░░ renaissance of manufacturing it ░░░░░░░░ going to be the ░░░░░░░░ of American workers it ░░░░░░░░ going to be the ░░░░░░░░ we know and love ░░░░░░░░ we just had to ░░░░░░░░ for the AI technology ░░░░░░░░ to be here now ░░░░░░░░ let us compete with ░░░░░░░░ the cheap labor all ░░░░░░░░ the world It s ░░░░░░░░ home Jesse all right ░░░░░░░░ agree with you and ░░░░░░░░ can only