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Commerce Secretary Faces Backlash Over Rising Consumer Prices

5/24/2025

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Summary

Story summary

U.S. Commerce Secretary Howard Lutnick faced a heated audience at an Axios event, defending President Trump's tariffs as having no impact on consumers. However, attendees voiced their frustrations, feeling the pinch in their wallets. This tension escalated as S&P Global revealed a stark rise in consumer prices in May, directly challenging Lutnick's claims.

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Story summary

U.S. Commerce Secretary Howard Lutnick faced a heated audience at an Axios event, defending President Trump's tariffs as having no impact on consumers. However, attendees voiced their frustrations, feeling the pinch in their wallets. This tension escalated as S&P Global revealed a stark rise in consumer prices in May, directly challenging Lutnick's claims.