Investing.com -- US Commerce Secretary Howard Lutnick has asserted that the US needs Canada to allow it to build its steel and aluminum for national security purposes. Speaking on Bloomberg TV, Lutnick also referred to Canada’s retaliatory tariffs on sporting goods as "tone deaf."

Despite these issues, Lutnick confirmed that the USMCA pact, which allows for tax-free trade between the countries if products contain enough US content or are made domestically, remains intact. He also mentioned that President Donald Trump will provide details on how to balance trade on April 2.

Lutnick made several other comments during his interview, including a critique of the European Union’s response to the US as "disrespectful" and a claim that Europe and Canada do not respect President Trump. He expressed hope that China will reduce its production of fentanyl ingredients and cited restrictions on US car sales in South Korea and Japan.

The Commerce Secretary also noted that India is blocking US farmers. However, he ended on a positive note regarding the US border situation, stating, "So far, so good."

Lutnick believes that President Trump’s policies will be reflected in the economic data in the third or fourth quarter of this year. "Donald Trump has created the policies for me to bring in enormous investment," Lutnick added.

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