#FirstpostNews: ‘Globalisation Has Failed,’ Says US Commerce Secretary Howard Lutnick at WEF | N18G

U.S. Commerce Secretary Howard Lutnick spoke during a panel discussion at the World Economic Forum 2026 in Davos, stating that globalization has "failed the West and the United States." Lutnick argued that decades of offshoring prioritized inexpensive labor over domestic manufacturing, leading to the hollowing out of American industry and increased reliance on foreign supply chains. He also questioned the rationale behind Europe's commitment to net-zero goals by 2030, given its current lack of manufacturing capabilities for key technologies like batteries.

Lutnick positioned the "America First" approach, associated with the Trump administration, as an alternative model designed to emphasize domestic workers and industry. His comments preceded an anticipated address by President Donald Trump at the forum, which was also expected to cover international policy matters.