Commerce Secretary Denounces Globalization, Warns European Dependence

Commerce Secretary Howard Lutnick told attendees at this year's World Economic Forum on Tuesday that "globalization has failed the West," criticizing European green-energy plans that he said would leave them "subservient to China" without domestic battery production. He also referenced tariff threats tied to Greenland and cited recent transatlantic terms including $750 billion in U.S. energy purchases, $600 billion in investments, and a $350 billion AI memorandum.