Trump's supporters are pointing fingers at Lutnick for the chaos surrounding Trump's tariffs
There is an increasing belief that Lutnick may end up bearing the blame for the economic turmoil caused by the president’s inconsistent tariff strategies.
TroibNews 
President Donald Trump faces challenges in conveying a clear economic agenda, with his Commerce Secretary, Howard Lutnick, bearing the brunt of the criticism.
Frustration has risen among White House officials and Trump’s external allies regarding Lutnick, particularly concerning his close relationship with the president and the guidance he provides on economic matters. This discontent is intensified by recent television appearances that, according to sources, have revealed a fundamental misunderstanding of tariffs and their economic implications. Additionally, Lutnick has taken the lead on several announcements, sometimes contradicting Trump’s messaging.
These issues, along with Lutnick’s abrasive demeanor, have resulted in a lack of support for him within the administration. There is a growing sentiment among insiders that he may be held accountable for the economic disruption linked to Trump’s inconsistent tariff strategy. The Dow Jones Industrial Average fell nearly 500 points in one day after Trump retracted proposed tariffs on Canadian steel and aluminum, following a plunge of 890 points the previous day.
One insider commented that Lutnick is “constantly auditioning for Trump's approval.” Another remarked, “He’s trying to be a mini-Trump. I don't think he got the memo that only Trump gets to be Trump. It just reinforces that he doesn't really know how to do the job.”
PMG interviewed 11 individuals, including Trump allies, administration officials, and Republican lawmakers, most of whom spoke on condition of anonymity to express their views about Lutnick’s standing within the organization.
White House spokesperson Kush Desai defended Lutnick's role, stating that his “long and immensely successful private sector career makes him an integral addition to the Trump administration’s trade and economic team.” Desai emphasized that Lutnick shares the administration's goal of “delivering economic prosperity for the American people,” highlighting the February jobs report indicating the addition of 151,000 jobs and nearly $2 trillion in business investments since Trump took office.
“Every member of the Trump administration is playing from the same playbook — President Trump’s playbook — to enact an America First agenda of tariffs, tax cuts, deregulation, and the unleashing of American energy,” Desai added.
Lutnick, who previously led the respected financial services firm Cantor Fitzgerald, comes from a Wall Street background often critical of tariffs but aligns with many supporters of such measures. However, he has struggled to gain trust from either side, with Trump’s trade adviser, Peter Navarro, and U.S. Trade Representative Jamieson Greer viewed as more ideologically consistent with pro-tariff sentiments, while Treasury Secretary Scott Bessent is seen as more reliable by Wall Street, despite Lutnick's experience managing over 10,000 employees at Cantor.
Due to his closeness to the president, Lutnick has become a primary contact for congressional Republicans and foreign officials aiming to influence tariff policies. His involvement was crucial on a Tuesday when he assisted in negotiating a deal with Ontario Premier Doug Ford that led to Ontario suspending a 25% tariff on energy exports while Trump abandoned plans for a 50% tariff on Canadian steel and aluminum.
He has maintained regular communication with Canadian Finance Minister Dominic LeBlanc, often via text. A senior Canadian government official noted that they regard Lutnick as “really having the levers when it comes to the imposition of tariffs.” Lutnick established this connection at a Mar-a-Lago dinner attended by outgoing Prime Minister Justin Trudeau last November, which has led Canadian officials to see him as “a solid and reliable interlocutor” due to his closeness to Trump.
Despite this, Trump allies express concern that Lutnick may be providing the president with reassurances rather than crucial critiques regarding tariffs and their broader economic implications.
While Lutnick is seen as a supporter of Trump’s views on tariffs, he has collided with the president’s economic messaging, often discussing ideas as if they were official policy before receiving approval from the White House. For instance, shortly before Trump’s pre-taped interview with Fox Business’ Maria Bartiromo, Lutnick stated on NBC’s “Meet the Press” that Americans should “absolutely not” prepare for a recession, contradicting Trump’s more cautious stance.
This inconsistency undermined the administration's narrative that tariffs would yield long-term benefits for the economy, even if they caused short-term disruptions. During a joint address to Congress, Trump acknowledged that his tariffs could lead to some “disturbance,” a point reiterated by White House Press Secretary Karoline Leavitt during a briefing, where she characterized the era as “a period of transition.”
The first insider close to the administration remarked, “The president and Bessent are being more direct and honest because they believe the people are on their side. You don’t have to lie to people because you know what you’re doing is for their betterment.” They contrasted this with Lutnick’s overly optimistic assertions, saying, “Lutnick is out there saying, ‘No, it’s all gonna be amazing.’”
Bessent later labeled the reporting regarding Lutnick as "fake news,” affirming that Lutnick, the entire economic team, and he were collaborating to execute the president’s agenda aimed at revitalizing the American economy.
Bessent has vigorously endorsed the administration’s trade policies while acknowledging potential economic turbulence. He also maintained that tariffs would only result in a “one-time price adjustment” despite signs of an economy beginning to “roll a bit” amidst reduced federal spending.
Following publication, a representative from the U.S. Trade Representative's Office echoed Bessent’s assertions, stating that “every principal in the administration is working together nonstop to implement President Trump's America First Trade Policy” and highlighting the administration’s unity.
Lutnick created confusion when he prematurely suggested tariffs on Mexico and Canada could be paused, revealing this in a CNBC interview while negotiations were still underway, resulting in additional strain on the administration’s timeline.
Despite earning the president’s favor for his fundraising efforts for the 2020 and 2024 campaigns, speculation persists that Lutnick could be among the first to depart the administration due to his controversial personality and tendency to overstep. His previous oversights during the transition led to frustration among Trump’s inner circle, which likely contributed to him being overlooked for his desired position as Treasury Secretary.
When asked about Lutnick's problematic relationships within the administration, the second insider noted, “everyone.” While Trump is still receptive to Lutnick, the dynamics are deteriorating towards a repetition of the transition phase when Lutnick's presence became more intrusive.
“When it was like, ‘Why does this guy feel like my de facto roommate? Every time I turn around he’s there,’” the individual remarked.
On Capitol Hill, Lutnick has emerged as the go-to contact on tariffs due to his accessibility and the president’s ear, overshadowing Navarro and Greer, both of whom are less familiar to members of Congress. Many Republican lawmakers, even those skeptical of Trump’s trade policies, are inclined to exercise patience, perceiving tariffs as part of a broader strategy incorporating tax incentives for reshoring businesses, enhanced energy production, and tax cuts.
Rep. Adrian Smith, chair of the Ways and Means Subcommittee on Trade, commented, “I’m not a fan of tariffs. It needs to be a tool in the toolbox, I understand that…but what was successful about the previous term was that parallel engagement that I think brought people to the table and ultimately things got done.”
Some lawmakers express hope that Greer will play a larger role in shaping tariff policies now that he has been confirmed as trade representative. However, although Greer possesses strong policy experience, questions remain regarding his ability to navigate relationships with Trump during Oval Office discussions.
Meanwhile, Republicans from farm states are seeking direct engagement with Agriculture Secretary Brooke Rollins, bypassing both Lutnick and Greer.
Within Wall Street circles, there are reports of outreach from the administration aiming to gauge whether upcoming tariffs and trade uncertainties are fueling market volatility. However, it remains unclear if this feedback is influencing policy decisions. Additionally, there’s a widespread concern that Lutnick lacks the necessary relationships in the business community to grasp the underlying seriousness of the market's reactions to tariff announcements.
As one insider succinctly expressed, “Howard Lutnick has no respect from the CEO community. He was a broker’s broker. He was an institutional broker that not any CEO knew his name. They’re really missing connectivity to the business world.”
Navid Kalantari contributed to this report for TROIB News
Frustration has risen among White House officials and Trump’s external allies regarding Lutnick, particularly concerning his close relationship with the president and the guidance he provides on economic matters. This discontent is intensified by recent television appearances that, according to sources, have revealed a fundamental misunderstanding of tariffs and their economic implications. Additionally, Lutnick has taken the lead on several announcements, sometimes contradicting Trump’s messaging.
These issues, along with Lutnick’s abrasive demeanor, have resulted in a lack of support for him within the administration. There is a growing sentiment among insiders that he may be held accountable for the economic disruption linked to Trump’s inconsistent tariff strategy. The Dow Jones Industrial Average fell nearly 500 points in one day after Trump retracted proposed tariffs on Canadian steel and aluminum, following a plunge of 890 points the previous day.
One insider commented that Lutnick is “constantly auditioning for Trump's approval.” Another remarked, “He’s trying to be a mini-Trump. I don't think he got the memo that only Trump gets to be Trump. It just reinforces that he doesn't really know how to do the job.”
PMG interviewed 11 individuals, including Trump allies, administration officials, and Republican lawmakers, most of whom spoke on condition of anonymity to express their views about Lutnick’s standing within the organization.
White House spokesperson Kush Desai defended Lutnick's role, stating that his “long and immensely successful private sector career makes him an integral addition to the Trump administration’s trade and economic team.” Desai emphasized that Lutnick shares the administration's goal of “delivering economic prosperity for the American people,” highlighting the February jobs report indicating the addition of 151,000 jobs and nearly $2 trillion in business investments since Trump took office.
“Every member of the Trump administration is playing from the same playbook — President Trump’s playbook — to enact an America First agenda of tariffs, tax cuts, deregulation, and the unleashing of American energy,” Desai added.
Lutnick, who previously led the respected financial services firm Cantor Fitzgerald, comes from a Wall Street background often critical of tariffs but aligns with many supporters of such measures. However, he has struggled to gain trust from either side, with Trump’s trade adviser, Peter Navarro, and U.S. Trade Representative Jamieson Greer viewed as more ideologically consistent with pro-tariff sentiments, while Treasury Secretary Scott Bessent is seen as more reliable by Wall Street, despite Lutnick's experience managing over 10,000 employees at Cantor.
Due to his closeness to the president, Lutnick has become a primary contact for congressional Republicans and foreign officials aiming to influence tariff policies. His involvement was crucial on a Tuesday when he assisted in negotiating a deal with Ontario Premier Doug Ford that led to Ontario suspending a 25% tariff on energy exports while Trump abandoned plans for a 50% tariff on Canadian steel and aluminum.
He has maintained regular communication with Canadian Finance Minister Dominic LeBlanc, often via text. A senior Canadian government official noted that they regard Lutnick as “really having the levers when it comes to the imposition of tariffs.” Lutnick established this connection at a Mar-a-Lago dinner attended by outgoing Prime Minister Justin Trudeau last November, which has led Canadian officials to see him as “a solid and reliable interlocutor” due to his closeness to Trump.
Despite this, Trump allies express concern that Lutnick may be providing the president with reassurances rather than crucial critiques regarding tariffs and their broader economic implications.
While Lutnick is seen as a supporter of Trump’s views on tariffs, he has collided with the president’s economic messaging, often discussing ideas as if they were official policy before receiving approval from the White House. For instance, shortly before Trump’s pre-taped interview with Fox Business’ Maria Bartiromo, Lutnick stated on NBC’s “Meet the Press” that Americans should “absolutely not” prepare for a recession, contradicting Trump’s more cautious stance.
This inconsistency undermined the administration's narrative that tariffs would yield long-term benefits for the economy, even if they caused short-term disruptions. During a joint address to Congress, Trump acknowledged that his tariffs could lead to some “disturbance,” a point reiterated by White House Press Secretary Karoline Leavitt during a briefing, where she characterized the era as “a period of transition.”
The first insider close to the administration remarked, “The president and Bessent are being more direct and honest because they believe the people are on their side. You don’t have to lie to people because you know what you’re doing is for their betterment.” They contrasted this with Lutnick’s overly optimistic assertions, saying, “Lutnick is out there saying, ‘No, it’s all gonna be amazing.’”
Bessent later labeled the reporting regarding Lutnick as "fake news,” affirming that Lutnick, the entire economic team, and he were collaborating to execute the president’s agenda aimed at revitalizing the American economy.
Bessent has vigorously endorsed the administration’s trade policies while acknowledging potential economic turbulence. He also maintained that tariffs would only result in a “one-time price adjustment” despite signs of an economy beginning to “roll a bit” amidst reduced federal spending.
Following publication, a representative from the U.S. Trade Representative's Office echoed Bessent’s assertions, stating that “every principal in the administration is working together nonstop to implement President Trump's America First Trade Policy” and highlighting the administration’s unity.
Lutnick created confusion when he prematurely suggested tariffs on Mexico and Canada could be paused, revealing this in a CNBC interview while negotiations were still underway, resulting in additional strain on the administration’s timeline.
Despite earning the president’s favor for his fundraising efforts for the 2020 and 2024 campaigns, speculation persists that Lutnick could be among the first to depart the administration due to his controversial personality and tendency to overstep. His previous oversights during the transition led to frustration among Trump’s inner circle, which likely contributed to him being overlooked for his desired position as Treasury Secretary.
When asked about Lutnick's problematic relationships within the administration, the second insider noted, “everyone.” While Trump is still receptive to Lutnick, the dynamics are deteriorating towards a repetition of the transition phase when Lutnick's presence became more intrusive.
“When it was like, ‘Why does this guy feel like my de facto roommate? Every time I turn around he’s there,’” the individual remarked.
On Capitol Hill, Lutnick has emerged as the go-to contact on tariffs due to his accessibility and the president’s ear, overshadowing Navarro and Greer, both of whom are less familiar to members of Congress. Many Republican lawmakers, even those skeptical of Trump’s trade policies, are inclined to exercise patience, perceiving tariffs as part of a broader strategy incorporating tax incentives for reshoring businesses, enhanced energy production, and tax cuts.
Rep. Adrian Smith, chair of the Ways and Means Subcommittee on Trade, commented, “I’m not a fan of tariffs. It needs to be a tool in the toolbox, I understand that…but what was successful about the previous term was that parallel engagement that I think brought people to the table and ultimately things got done.”
Some lawmakers express hope that Greer will play a larger role in shaping tariff policies now that he has been confirmed as trade representative. However, although Greer possesses strong policy experience, questions remain regarding his ability to navigate relationships with Trump during Oval Office discussions.
Meanwhile, Republicans from farm states are seeking direct engagement with Agriculture Secretary Brooke Rollins, bypassing both Lutnick and Greer.
Within Wall Street circles, there are reports of outreach from the administration aiming to gauge whether upcoming tariffs and trade uncertainties are fueling market volatility. However, it remains unclear if this feedback is influencing policy decisions. Additionally, there’s a widespread concern that Lutnick lacks the necessary relationships in the business community to grasp the underlying seriousness of the market's reactions to tariff announcements.
As one insider succinctly expressed, “Howard Lutnick has no respect from the CEO community. He was a broker’s broker. He was an institutional broker that not any CEO knew his name. They’re really missing connectivity to the business world.”
Navid Kalantari contributed to this report for TROIB News
