Lutnick Says Weaker Dollar Is ‘More Natural’ as U.S. Pushes Export Growth

U.S. Commerce Secretary Howard Lutnick said on Tuesday that the recent weakness in the U.S. dollar reflects a more “natural” level for the currency, arguing that it could help boost American exports and support stronger economic growth.

Speaking before a U.S. Senate Appropriations subcommittee, Lutnick said that for many years the dollar had been pushed artificially higher by foreign governments seeking to increase exports to the United States. He added that President Donald Trump’s trade policies are now reshaping those dynamics.

“A weaker dollar makes U.S. goods more competitive globally,” Lutnick suggested, framing the currency’s decline as a positive development for exporters and domestic growth.

Lutnick also struck an optimistic tone on the economic outlook, saying he expects U.S. gross domestic product growth to exceed 5% in the fourth quarter of 2025, with the potential to top 6% in the first quarter of 2026.

His comments come even as the administration sends mixed signals on currency policy. U.S. Treasury Secretary Scott Bessent, who traditionally speaks for the government on the dollar, has repeatedly emphasized that the United States maintains a “strong dollar policy,” arguing that pro-growth reforms and efforts to attract foreign investment ultimately underpin the currency’s value.

The dollar has come under sustained pressure in recent months amid a combination of factors, including expectations of further Federal Reserve interest rate cuts, uncertainty over tariffs, policy volatility — including concerns about central bank independence — and rising fiscal deficits. Together, these issues have weighed on investor confidence and contributed to the greenback’s decline.

Markets are now watching closely to see whether the administration’s growth and trade agenda can stabilize sentiment, or whether currency weakness will persist as monetary and fiscal uncertainties remain in focus.