Countries of the world are profiting from us - USA

Lutnick said the effect of the mirror duties that Trump has imposed on countries will not be delayed.

"They will definitely stay in effect for days and weeks. That's obvious," he said.

He believes Trump needs to restart global trade.

"Everybody has a trade surplus and we have a trade deficit. Countries around the world are profiting from us and it has to stop. The president has made it very clear that with this policy we will protect factories that will move to the U.S. to do manufacturing," Lutnick added.

The U.S. has a huge financial deficit with China, the European Union and many other countries.

"The only way to solve this problem is through tariffs, which are now bringing tens of billions of dollars into the US. They are already in effect, and it's a beautiful thing to look at," Trump said.

Photo: screenshot.