US Commerce Secretary Howard Lutnick, addressing Congress, emphasized a significant influx of capital investment into the country. He defended the US economy as robust and resilient, pointing to increased manufacturing and energy investments. Lutnick highlighted commitments from various industries to bolster American production.
Exports in 2025 totaled $3.4 trillion, showing a six percent rise, with the trade deficit hitting a 16-year low. Lutnick attributed these achievements to the “America First trade policy,” which aimed to enhance domestic manufacturing and attract foreign investments. He underscored the importance of the Bureau of Industry and Security in safeguarding against illicit technology transfers, particularly from China.
While justifying the elimination or restructuring of certain programs, Lutnick acknowledged short-term job losses but expressed optimism about future employment prospects. Lawmakers expressed concerns over tariffs, job cuts, and program eliminations, challenging the administration’s strategies. Subcommittee Chairman Harold Rogers criticized the budget proposal’s reduction and its approach to countering China’s trade tactics.
Ranking member Grace Meng warned about potential negative impacts on American jobs and small businesses due to the proposed budget cuts. Representative Rosa DeLauro criticized the Trump administration’s trade policies, highlighting increased costs for families and manufacturing job losses. Other representatives raised issues regarding tariff uncertainties, consumer benefits, labor rights, and energy policies.
