Rep Dean GRILLS  Trump Ally Over Soaring Banana Prices, Lutnick SHREDDED Over Trump’s Banana Tariffs - video Dailymotion

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During a heated House hearing, Rep. Madeleine Dean confronted Commerce Secretary Howard Lutnick over the ripple effects of President Trump’s tariff plan. Dean spotlighted rising banana prices at Walmart as an example of how American consumers are already feeling the squeeze. Lutnick defended the trade strategy, but the clash underscores growing concerns over inflation and trade uncertainty. With tariffs announced in April and ongoing pushback in Congress, pressure is mounting over the economic toll of the escalating U.S. trade policies.    #Tariffs #BananaPrices #CongressHearing #MadeleineDean #HowardLutnick #TrumpTradePolicy #TradeDeficit #USPolitics #EconomicPolicy #TariffDebate #WalmartPrices #Inflation #BananaInflation #HouseHearing #TariffImpact #ConsumerCosts #TradeTensions #TrumpTariffs #BananaWars #TariffTalks #CapitolClash #PoliticalNews #BreakingNews #TariffBattle #GroceryPrices #USImports #GlobalTrade #CommerceDepartment #EconomicUncertainty #DeanVsLutnick  ~HT.410~ED.102~

Transcript

00:00It's 90 days. We're going to have 90 deals in 90 days. Then there's a 90-day pause.

00:14Many of these tariffs, as they say, punishing. Tariffs on things that make no sense whatsoever.

00:21I believe you recognize that a trade deficit is not something to fear. I believe you know

00:26that predictability, stability is essential for businesses. I fear the administration lacks a

00:32basic understanding of what a trade deficit is. I think many economists take issue with equating

00:38a country's trade deficit with any one country and its economic well-being. Some economists actually

00:45view a trade deficit as a sign of a country's economic health because it means we're purchasing

00:50more. For me, I have a pretty large trade deficit with my local grocer or my hairdresser. It's

00:58a good thing. It means I have money enough to get my hair done once in a while and to keep

01:02food on the table. It tells nothing about my overall financial position. Do you know when

01:09this country actually had a trade surplus, Secretary?

01:22The president likes to speak about before. Historically. When did we have a trade surplus?

01:28I'm not talking about the president. Historically.

01:31I think early, about 100 years ago. It was the Great Depression.

01:39It was a sign of what was going on. It was during the Great Depression. That's a direction

01:44none of us wants to go. Tariffs. It's 90 days. We're going to have 90 deals in 90 days. Then there's

01:52a 90-day pause. Many of these tariffs, as they say, punishing. Tariffs on things that make no sense

01:58whatsoever. Where are we going to go with the remaining deals? I know of one deal that has been

02:04apparently resolved with the United Kingdom. We got 89 more deals to do in just a few more days.

02:12Where are we on those deals? We are in the midst of negotiations with dozens and dozens of countries.

02:20We could sign deals, but they're only going to get better as we negotiate them.

02:25That's just simply not true. Because as I told you, the American...

02:28Actually, I promise you it's true because I'm doing it. So I promise you it is true.

02:32And I'm here testifying in front of you, and I promise you it's true.

02:35And Mr. Trump promised to bring down the cost of goods day one. And what he has done through his

02:40trade deficit fixation and his tariff chaos has nakedly increased the cost of goods. The estimates

02:48are that for consumers in my area, suburban Philadelphia, $2,000 at least a year increases on goods.

02:56I'll give you an example of one. Bananas. What's the tariff on bananas? Americans, by the way,

03:04love bananas. We buy billions of them a year. I love bananas. What's the tariff on bananas?

03:12The tariff on bananas would be representative of the countries that produce them.

03:16And what's that tariff? Generally 10%.

03:19Correct. 10%. Walmart has already increased the cost of bananas by 8%.

03:25But as countries do deals with us, that will go to zero. As countries do deals with us,

03:31that will go to zero. But the cost is on the American consumer now and on the businesses with

03:35the confusion now. Mr. Secretary, I believe you know better. I believe you recognize that a trade

03:42deficit is not something to fear. I believe you know that predictability

03:46stability is essential for businesses. I wish you would show that truth to this administration.

03:54And I yield back.

03:55The time of the gentlelady is expired.

03:57Would you mind, Mr. Chairman, if I make one quick comment to the end? Would that be okay?

04:01I'm sorry?

04:02Would you mind if I make one quick comment to the representative?

04:05Sure. Please.

04:06There's no uncertainty. If you build in America and you produce your product in America,

04:11there will be no tariff. We can't produce bananas in America.

04:14So the concept of building in America and paying no tariff is very, very clear.

04:18We cannot build bananas in America.

04:22Time of the gentlelady has expired.

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Rep Dean GRILLS Trump Ally Over Soaring Banana Prices, Lutnick SHREDDED Over Trump’s Banana Tariffs

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