💨 Abstract

Howard Lutnick, Trump's nominee for commerce secretary, told US senators that India and China, despite having the most tariffs, have no inflation, challenging the common belief that tariffs cause inflation. Lutnick asserted that while individual product prices may rise, this is not inflationary. He argued that the US is treated unfairly in global trade and that tariffs can help create reciprocity, fairness, and respect, particularly for US farmers.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖