Lutnick: Commerce Department headcount dropped from 52,000 to 40,000
“In the beginning, we cut, you know, 20%. Like, I walked in the door here with 52,000 people in this department, and now there's 40,000 people in this department.”
Lutnick: Large workforce cuts must be executed quickly to avoid ongoing fear
“So the idea is, if you're going to cut 12,000 people, you have to do it fast. So that everybody understands the next shoe is not going to drop tomorrow, right?”
Lutnick moves Office of Space Commerce out of NOAA into his office
“So I have now the office of space commerce, which I've taken out of NOAA, And then put in my office so that I can re-imagine how do we handle commercial satellites.”
Lutnick: Average green card recipient earned in the $40,000s versus $60,000s for average Americans
“So the average green card, if you looked for the last five years, the average American makes in the sixties, a thousand dollars a year, and the average green card recipient made in the forties.”
Lutnick: Trump administration sold $1B in Gold Card visas in first week
“No, the president the first week put out that we had sold a billion dollars worth.”
Lutnick: H-1B visas should target $500k engineers, not $60k graduates
“Yeah, I mean, look, I think H-B is fantastic for someone who makes 500,000 dollars who's a cool engineer. But it's not ok if it's a 60,000 dollar college graduate.”
Lutnick claims foreign stock markets surged following U.S. trade resets
“Korean stock market of 70%. Japan up like twenties or thirties. Europe up more than 15.”
Lutnick claims federal government has never compared income data for Medicare and Medicaid recipients
“No one has ever looked at, if you're getting Medicaid and Medicare, how much money do you make? No one's ever compared the two.”
Lutnick predicts US GDP growth will reach 5% in early 2026
“They could be this quarter, as in the first quarter, so then I'd say, well, you have to come back and see me when it's through five, but then you'll come back in a couple of months, and then you'd say, Howard, I just spoke to you for an hour. I don't, you know…”
Lutnick: Nvidia must send chips to US for government testing
“So the way we're doing it is he has to send the chips to America. We test the chip to make sure that he hasn't enhanced it in any way.”
Lutnick: 6% GDP growth will fix the federal deficit and taxes
“Imagine if you grow six percent. You're gonna fix the deficit. You're gonna fix taxes. You're gonna fix all.”
Kupor: Marc Andreessen connected him to Trump transition chair Howard Lutnick
“The truth of the matter is, you know, like I sent Mark and Ben an email when they were getting more involved in the campaign last summer, and I was like, hey, like, you know, if Trump wins and there's something that's interesting that works out, I'd love to at…”
Huang: Commerce Secretary Howard Lutnick is actively accelerating US tech exports
“Secretary Lutnik was all over it.”
Lutnick: US government will acquire a 9.9% equity stake in Intel
“And at three o'clock, we're going to sign the document together in the Oval Office, where the United States of America will own 9.9% of the great American technology company Intel.”
Lutnick: Unsettled trade negotiations will trigger higher tariffs on August 1st
“Okay, so on August first, whatever hasn't been settled will be settled. You get the tariffs go into effect, right? So all this 10%, they'll all just pop up to some higher number.”
Lutnick: U.S. allows allied AI chip clusters if American-operated
“We are comfortable with allies buying significant numbers of chips, right, and having a large cluster, provided that cluster is operated by an American, a trusted American operator, and the cloud is a trusted American operator, so that we know that giant clust…”
Coles: Howard Lutnick told people he hired and directs Elon Musk
“But we have a very good story in it this week about Howard Lutnick telling people that in fact, he hired Elon and he told Elon what to do.”
Mohnot: Trump tariffs aim for reshoring, not reciprocal trade
“I think that's bullshit because, like, you have Lutnik saying, like, we need millions of Americans screwing in tiny iPhones or whatever. And you, and they also say that the tariffs are going to replace income taxes. So if those things are true, then it's not a…”
Hammond: Commerce Department is delaying Nvidia H20 export controls over tariffs
“The commerce department has, you know, Howard Lutnick has said that he's going to export control the age 20, but they're so distracted by tariffs. They haven't prioritized it. And the time is kind of running out.”
Gerstner: Trump Tariffs Are Principled Strategy, Not Just Negotiating Tactic
“One is, this is not a negotiating tactic by Trump. I think that diminishes the administration's principled approach to restructuring globalism. I mean, you really have to listen to the speech that Vance gave yesterday. I did. I did. Whether it's Besant, whethe…”
Lutnick: Cantor Fitzgerald lost 658 employees during 9/11
“I lost 658 people who worked for me.”
Lutnick committed 25% of Cantor Fitzgerald's profits to 9/11 families
“And I commit 25% of all of our profits.”
Lutnick raised and donated money for Chuck Schumer's early political career
“Early when Chuck Schumer was young before he became what the president now calls a Palestinian, you know, he, you know, I raised him, you know, I raised him money and gave him money.”
Lutnick donated to both Donald Trump and Hillary Clinton in 2016
“So I gave him money and I gave Hillary money.”
Lutnick donated $10M and raised $15M for Trump's 2020 re-election
“Now, I gave him money in 2020 re-election. Probably gave him ten million bucks. I raised him fifteen million bucks.”
Lutnick: Superstitious Trump avoided transition planning with him before winning election
“The president is superstitious. He's never had one conversation with me about transition. He totally trusts me.”
Lutnick: Linda McMahon drafted executive orders while Lutnick managed personnel
“Lyndon McMahon was my co-chair. Right? But she wrote all those EOs that he did. That was, she was responsible for, and I was responsible for personnel, but she was with me for personnel.”
Lutnick claims he personally recruited David Sacks into the Trump administration
“I recruited David. I pounded on David. You can ask David. Right. I beat him and beat him and beat him until he finally said, okay, I'm going to do it.”
Lutnick: Trump transition team had Pam Bondi lined up as AG backup
“If it's not, we have Pam right here, right now.”
Lutnick reveals MSG rally plan for Musk and himself to pledge trillions
“The deal was he's going to cut one trillion dollars. And then he's supposed to say, and how much are you going to earn? And I'm supposed to say one trillion dollars. And then we're supposed to say together, we're going to balance the budget.”
Lutnick: Stopping payments is the easiest way to identify fraudsters
“And if all the guys who did PayPal, like Elon knows this by heart, right? Anybody who's been in the payment system and the process system knows the easiest way to find the fraudster is to stop payments and listen.”
Lutnick: US national balance sheet is worth $500 trillion
“What's our balance sheet worth? I say 500 trillion dollars. The president says a quadrillion. But at 500 trillion or quadrillion, 36 trillion? We're rich.”
Lutnick: Federal government inflates pre-election GDP with spending spikes
“And I'm going to break it out for the last 20 years. And what you're going to see is, Every time the quarter just before an election, all the government spending happens right then and there. It's all of a sudden you have this jump in GDP. Right. Total lie. To…”
Lutnick: Inflation is caused by money printing, not tariffs
“Inflation comes from printing more money.”
Lutnick: Tariffs drove $2 trillion of committed domestic production to US
“Two trillion dollars of committed domestic production coming back because of his tariffs.”
Lutnick claims he coined 'External Revenue Service' and pitched Donald Trump
“I came up with the name. I wrote a truth. Right. And I sent it to DJT and I wrote, this is my huge idea.”
Lutnick says he sold 1,000 $5M investor visas in one day
“And by the way, ah, yesterday I sold a thousand.”
Lutnick: 37 million people globally can afford $5M investor visa
“There are thirty-seven million people in the world who are capable of buying the card.”
Lutnick: Chinese AI apps should be banned, but open-source code permitted
“And I don't think we should be having apps in America. And I don't think we should have their website in America because they all go back home. Ok, but it's open source and I want our American companies including college students to be able to download it and …”
Lutnick: U.S. will establish security evaluations for foreign open-source AI models
“And so what we're going to have is we're going to have security evaluation. Let's say if the security evaluation model says that this is a good model, then people can download it. But it's got to go through the industry.”
Lutnick: Commerce Department will issue a rule requiring post-quantum cryptography standards
“So the defense of it is called post quantum cryptography. Right. We know how to do it. And we'll come out with a rule that says America's got to protect itself.”
Lutnick: Conform in high school and save academic debate for college
“In high school, if she says the sky is orange, the answer to the test is orange. When you get to college, you can argue with the professor all you want. High school, color inside the lines, give the teacher what she wants, make sure she loves you, and you're g…”
Lutnick cried every day after 9/11 until October 21, 2004
“I cried every day until October 21st 2000 four.”
Howard Lutnick promised zero federal income tax for incomes under $150k
“He said the Trump tax plan is going to cut federal income taxes to zero for anybody making a 150 K or less.”