US, Jan 21 : US Commerce Secretary Howard Lutnick on Wednesday described globalisation as a “failed policy” that has hurt the West and the United States, while promoting the Trump administration’s “America First” economic approach. Speaking at the World Economic Forum in Davos, Lutnick said decades of Western policies built around exports, offshoring, and cheap labour have weakened domestic industries and left American workers behind.
“Globalisation has failed the West and the United States of America. It’s a failed policy,” Lutnick said, highlighting that the model hollowed out domestic industrial bases and undermined national economies. He added that the America First policy prioritises domestic workers, national interests, and economic sovereignty.
Lutnick urged nations not to offshore critical sectors such as medicines, semiconductors, or essential industries, warning that dependence on other countries undermines sovereignty. “If you’re going to be dependent on someone, it darn well better be your best allies,” he said.
He also criticised policy inconsistencies in the West, especially Europe’s net-zero ambitions, which he said risk making the continent dependent on China for battery manufacturing. According to Lutnick, the America First approach represents a “fundamentally different way of thinking” compared with traditional Western economic policies, focusing on domestic growth, worker welfare, and strategic independence.
The 56th Annual Meeting of the World Economic Forum is being held in Davos from January 19 to 23, 2026, with nearly 3,000 leaders from more than 130 countries discussing global economic, technological, and geopolitical issues.