In response to Howard Lutnick’s failed attempt to defend Donald Trump’s economic agenda and budget today, DNC Chair Ken Martin released the following statement:

“The American people are rapidly losing confidence in Trump’s economic agenda, and Commerce chief Howard Lutnick did nothing to convince them otherwise during his hearing today. Lutnick flailed in his defense of Trump’s ploy to make it harder for families to afford food, rent, and health care in order to fund tax handouts for the rich. The American people know a scam when they see one. Trump’s wishlist isn’t an ‘America first’ agenda, it’s a ‘billionaire first’ one.” 

Howard Lutnick falsely claimed Donald Trump’s chaotic agenda is helping American manufacturing while hardworking Americans are losing their jobs and the industry is suffering. 

Howard Lutnick: “For far too long, America has not protected its workers and its industry. Thanks to President Trump and this administration’s efforts, we are reversing this trend, we are reshoring critical manufacturing, we are eliminating unfair barriers and practices, we are investing in our American workforce, and with your help, we will continue to deliver growth and prosperity to Americans.”

Lutnick: “This surge in investment, paired with renewed commitment to fair and reciprocal trade, is reigniting American manufacturing. We are bringing car manufacturing back to Michigan and Ohio. We are reopening steel mills in Pennsylvania.” 

Reuters: “U.S. manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs, potentially signaling looming shortages of some goods.” 

Yahoo Finance: “Manufacturing activity contracted in May as imports hit lowest level since 2009” 

Axios: “Pandemic flashback: Manufacturers can’t get supplies” 

ADP National Employment Report: “Change by Industry Sector … Manufacturing -3,000” 

Reuters: “US factory orders slump in April” 

FACT: Trump’s devastating budget would gut critical programs from health care to food assistance. Here’s a look at how his budget would hurt Americans:

• Cut $1.3 billion in food benefits for more than five million children and new families 
• Slash 43% in critical rental assistance programs, leaving millions of Americans without help to put a roof over their heads
• Gut $2.7 billion in cancer research, ripping more than one-third of the National Cancer Institute’s budget 
• Eliminate Homeland Security team focused on combating mass threats 
• Axe 25% of the Department of Labor’s workforce 
• End programs that keep pesticides and toxic chemicals away from our families 
• Slash support for preschools and homeless children
• Take money away from farmers 

Lutnick — whose department hasn’t answered for the disastrous cuts to critical programs in Trump’s budget — also didn’t have a clear understanding of the Trump administration’s own trade goals or his own department’s policies and budget. 

• Lutnick said he would reject a trade deal with Vietnam, even if they removed all barriers facing US exports to the country 
• Lutnick also admitted he doesn’t “have a really good understanding” of the Trade Expansion Act, which gives the President some powers to impose tariffs 
• Even though he is required by law to provide Congress with a spending plan, Lutnick does not explicitly commit to doing so 

Americans are rejecting Trump’s failed economic approach as they overwhelmingly fear Trump’s unaffordable national tax agenda will just only raise costs further. 

• 65% of Americans — including 48% of Republicans — say that costs are going up, while 61% expect Trump’s policies to make inflation worse
• Overall support for Trump’s trade policies has declined since Trump took office, with most Americans expecting companies to pass on at least 50%, if not 100%, of the cost hikes to consumers 
• Only 39% of Americans say the economy is on the right track, and just 36% approve of Trump’s handling of the economy 
• 76% of Americans say their income is not keeping up with inflation
• Nearly half of Americans say they are avoiding going to restaurants, movies, and other recreational activities — while cutting back on necessities like groceries 
• Trump’s approval rating on inflation remains deeply underwater at -17.1%
• Only 33% approve of Trump’s handling of the cost of living

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