Donald Trump’s allies are prepared to pile the blame on Commerce Secretary Howard Lutnick if the president’s “Liberation Day” tariff plan crashes and burns, according to a report.
Lutnick has spent a lot of time in the Oval Office hyping more and more aggressive tariffs even as the markets plunged, consumer confidence dropped, and investors expressed alarm, according to Politico. The outlet cites multiple sources close to the White House in reporting that Lutnick may even lose his job in the administration amid the potential economic turmoil that could result from Trump’s announcement tomorrow.
On Wednesday, Trump plans to finally unveil a cohesive tariff strategy after months of going back and forth on whether to impose sweeping duties on products from Mexico, Canada, Europe, and Asia.
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But his previous announcements on tariffs—an import tax paid by American companies, with the costs typically passed on to the consumer—have sent markets tumbling, and administration officials are ready to pin any more bad economic news on Lutnick, according to Politico.
“I think people would take special pleasure in blaming him,” a source told the outlet.
Business leaders had originally hoped Trump’s tariffs threats were just a negotiating tool, but as he’s doubled down on them, two of the three major U.S. stock markets have posted worst quarters since 2022, according to NBC.
Treasury Secretary Scott Bessent is also pro-tariff but has argued for a more targeted approach, according to Politico.
Lutnick is “a new voice at the table pushing crazy s--t,” a source told the outlet. “I don’t know anyone that isn’t p---ed off at him.”
A spokesperson for the White House told Politico that every member of the administration was “aligned” on their tariff strategy.
“President Trump has assembled the best and brightest trade team in modern American history to reignite American Greatness,” spokesperson Kush Desai told the outlet. “They are hard at work following the same playbook—President Trump’s playbook—to deliver for the American people.”
The Daily Beast has reached out to the White House for comment.
