US Commerce Secretary Lutnick: Globalization Failed the West at Davos

• US Commerce Secretary Howard Lutnick declared at Davos that globalization has failed the West and the United States.
• Lutnick argued that decades of offshoring and export-led growth damaged domestic industries and left American workers behind.
• He stated the Trump administration's 'America First' policy prioritizes domestic workers and national interests, advocating for other countries to consider similar models.
• Lutnick warned against offshoring critical industries like pharmaceuticals and semiconductors, linking economic policy to national sovereignty.
• He criticized Europe's net-zero push, suggesting it risks deepening dependence on China for battery manufacturing.

Why It Matters: US Commerce Secretary Howard Lutnick asserts globalization failed the West, advocating 'America First' policies.