Trump's Commerce Secretary Howard Lutnick tried to spin the bad ADP report on CNBC, showing that the private sector lost 32,000 jobs in November, even though economists were expecting 40,000 jobs to be added. Lutnick blamed the "Democratic shutdown" and said, "Next year the numbers are going to be fantastic." And of course, he rejected the idea that Trump's tariff tantrums played any part in the loss of jobs.

"I do want to ask you about the recent economic data because today we learned that the private sector is losing jobs," the CNBC host said. "Small businesses are getting hit really hard. Negative numbers in front of ADP, and one of the reasons that they cite is tariffs. So do you worry about some of the economic fallout here as these tariffs really take hold?"

"No, no, it's not tarif

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