Trump Transition Chairman Howard Lutnick gives a powerful case for President Trump’s tariffs: “At the turn of the 20th century, our economy was rocking. We had no income tax and all we had was tariffs — Then we had WW1 and WW2 and we felt we had a duty to rebuild the world. So we took down our protection. We took down our tariffs and we turned instead and we taxed Americans so that we could export the power of our economy.”

Howard Lutnick, the CEO of Cantor Fitzgerald, told the crowd at Madison Square Garden: We must elect Donald J Trump president because we must crush jihad!’

He also said: ‘When was America great? At the turn of the century, our was rocking.. We had no income tax. And all we had was tariffs.

‘Then we had WW1 and WW2 and we felt we had a duty to rebuild the world. So we took down our protection,’ he added.

‘We took down our tariffs and we turned instead and we taxed Americans so that we could export the power of our economy.’

The billionaire businessman came out after UFC head Dana White railed into Kamala Harris and urged Americans to vote for Trump.

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Trump Transition Chairman powerful case for tariffs: We had no income tax & all we had was tariffs