Trump Commerce Secretary Unwittingly Points to the Great Depression When Being Grilled Over Trade Deficits

Alex Griffing Jun 6th, 2025, 10:37 am

Trump Commerce Secretary Howard Lutnick testified before the House Appropriations Committee this week and was grilled by Rep. Madeleine Dean (D-PA) on his knowledge of trade deficits and where the trade deals stand.

Dean pulled no punches in her assessment of Lutnick, beginning, “I fear the administration lacks a basic understanding of what a trade deficit is.”

“I think many economists take issue with equating a country’s trade deficit with any one country and its economic well-being. Some economists actually view a trade deficit as a sign of a country’s economic health because it means we’re purchasing more. For me, I have a pretty lar

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