Lutnick expects US growth above 5% in first quarter, warns EU against tariff retaliation
ReutersJan 20, 2026 4:27 PM
Jan 20 (Reuters) - U.S. Commerce Secretary Howard Lutnick said on Tuesday that he expected first quarter U.S. GDP growth would exceed 5% in the first quarter of 2026 but warned the European Union against retaliating against President Donald Trump's threatened tariffs over control of Greenland.
Lutnick said during a forum at the World Economic Forum in Davos, Switzerland, that if Europe follows through on threatened tariff retaliation "then we'll be back to tit-for-tat" escalation of tariffs.
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