Howard Lutnick: “If they don't build in America, the tariffs likely to be…”

“We're going to be building here. These people have committed to try to build this fire full infrastructure and do it now in America. So that's what they get. If they don't build in America, the tariffs likely to be 100%. If they don't build here, the tariff is likely to be 100%. So there's sort of the stick, not the carrot in the room, the negotiations which you literally just left.” (05:11–05:18)

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.