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Howard Lutnick: “Globalization has failed the west and the United States of…”

Featuring: Howard Lutnick, Secretary of Commerce | National

US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum

Published January 20, 2026 | Video Starts at 02:28

Okay. Okay. We are in Davos at the World Economic Forum, and the Trump administration and myself, we are here to make a very clear point. Globalization has failed the west and the United States of America. It's a failed policy. It is what the west has stood for, which is export, offshore, far shore, find the cheapest labor in the world and the world is a better place for it. (02:28–02:35)

CLAIM

Asserts that globalization is a failed policy for the West and the U.S.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Howard Lutnick

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“You shouldn't offshore your medicine, you shouldn't offshore your semiconductors.”
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“You should not be dependent for that which is fundamental to your sovereignty on any other nation.”
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“Why would Europe agree to be net zero in 2030 when they don't make a battery?”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 04:03-04:12
“The Western hemisphere is vital for the United States of America.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 05:43-05:49
“The US Economy is going to grow more than 5% GDP this quarter.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 29:38-29:46
“If rates were lower, you would see us hit 6% [GDP growth].”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 29:46-29:50
“The United States has $18 trillion of economic power coming in.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 30:50-30:55
“When we launched our tariff regime on April 2, the world was aflutter with all of these kind of comments.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 38:38-38:48
“The President uses tariff policy to make sure people are talking and paying attention and not just acting.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 39:19-39:27
“He has felt that the industrial policy of the United States allowed it to be hollowed out.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 40:34-40:41
“We need to produce things in America. We need to produce things and we encourage the UK to do the same.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 40:53-41:01
“The critical mineral issue was with us a year ago. Everybody was sleeping through it.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 41:23-41:31
“Donald Trump ripped the band aid off and the whole world said, oh, my God.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 41:30-41:37
“The United States of America should be a place where you build things.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 41:56-42:00
“The United States and Europe are great allies.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 42:29-42:33
“The United States and the UK are great allies.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 42:32-42:36
“We are great allies with Canada.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 42:37-42:39
“My expectation is GDP of the United States of America is over 5% in the first quarter of 2026.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 43:16-43:24
“In the third quarter, you're going to see plus 5% from the United States of America.”
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum | Uploaded January 20, 2026 | 43:34-43:39