Overview
- Speaking at the World Economic Forum in Davos, Howard Lutnick said decades of offshoring and cheap labor left U.S. industry hollowed and workers disadvantaged.
- He promoted an America First approach and urged other countries to prioritize their own workers and domestic industry.
- He called for pharmaceuticals, semiconductors, industrial manufacturing and batteries to be anchored at home or within trusted partner networks.
- He warned that European net‑zero commitments without domestic battery production could deepen dependence on China.
- Business leaders offered pushback that global trade endures, with EY CEO Janet Truncale saying globalization is not going away but is becoming more complex.