Commerce Secretary Howard Lutnick discusses the Trump administration’s economic and fiscal policies on ‘Jesse Watters Primetime’
After his recent confirmation, Commerce Secretary Howard Lutnick has hit the ground running with a focus on achieving President Donald Trump’s economic goals.
« That’s our goal. Balance the budget of the United States of America by the end of Donald Trump’s term. And I am so pumped up for it because we are going to make America the greatest country on earth by a country mile, » Lutnick said on « Jesse Watters Primetime » Wednesday.
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The Republican-controlled Senate voted to confirm Lutnick on Tuesday as Trump’s commerce secretary, less than a week after senators voted to invoke cloture on his nomination. He needed a simple majority for a full Senate confirmation, getting confirmed on a 51- 45 tally on Tuesday.
« The Democrats didn’t show up for me at all, » he joked. « I guess they’re afraid of good government. »
Lutnick, chair and CEO of investment firm Cantor Fitzgerald, is one of the wealthiest people to serve in a presidential administration. Lutnick vowed to divest his financial interests upon confirmation to remain impartial.
Treasury Department Secretary Scott Bessent discusses President Donald Trump signing a reciprocal tariff plan, V.P. Vance threatening Russia with sanctions, a potential economic partnership agreement with Ukraine and government spending waste.
Trump nominated Lutnick to serve as commerce secretary two weeks after he was elected. Lutnick was a co-chair of Trump’s 2024 presidential transition team.
The « pumped up » secretary addressed findings from the Department of Government Efficiency (DOGE), a development he helped set up prior to Trump’s inauguration.
Lutnick detailed his « agreement » with Musk, saying « Elon was going to cut $1 trillion of waste, fraud and abuse. Think about it. We have almost $4 trillion of entitlements, and no one’s ever looked at it before. »
« You know Social Security is wrong. You know Medicaid and Medicare are wrong. So he’s going to cut a trillion, and then we’ll get rid of all these tax scams that hammer against America, and we’re going to raise $1 trillion of revenue. »
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Lutnick also told Fox News host Jesse Watters that the Trump administration’s « objective » to balance the federal budget will happen by the end of his term.
The now-commerce secretary has previously said he aligns with Trump’s « trade and tariff agenda, » which seeks to remedy trade imbalances by imposing reciprocal tariffs. His confirmation indicates a milestone for Trump’s America First policy agenda.
« Donald Trump announced the External Revenue Service, and his goal is very simple. His goal is to abolish the Internal Revenue Service and let all the outsiders pay, » he said.
Commerce Secretary Howard Lutnick details the Trump economic and fiscal agenda on ‘Jesse Watters Primetime.’ (Getty/Fox News / Fox News)
Lutwick went on to say the current trade « tax scam » is « going to end » under the Trump administration.
« We’ve got to use tariffs. We’ve got to use the External Revenue Service to take care of America and cut the scams and the abuse, the waste, » Lutwick said.
« It’s so exciting because think of how great America will be under Donald Trump and what we’re trying to do. »
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Fox News Digital’s Deidre Heavey and Aubrie Spady contributed to this report.
