Commerce Secretary Howard Lutnick is defending President Donald Trump’s tariff plan amid a stock market freefall, urging Americans to “trust Trump” to handle the economy despite his history of business bankruptcies.

“Let Donald Trump run the global economy. He knows what he’s doing. He’s been talking about it for 35 years,” Lutnick said on CNN following the market’s sharp decline. “Let him fix it. It’s broken.”

Lutnick’s comments came as the S&P 500 plunged 4%, the Dow Jones Industrial Average lost more than 1,600 points, down 3.98%. The Nasdaq Composite dropped 5.97% and the S&P 500 fell 4.84% in response to Trump’s new tariff policies that investors fear will spark a global trade war.

Whether Trump’s policies will “fix” the economy or further destabilize it remains to be seen—but critics aren’t buying Lutnick’s sales pitch. Social media users quickly mocked Lutnick’s faith in Trump, pointing to the president’s history of business failures.

“I wouldn’t trust Trump to run a piggy bank,” one user said. “Isn’t Trump the guy who bankrupted a casino?” another asked.

Several people highlighted that Trump’s businesses have filed for bankruptcy six times, including two Atlantic City casinos and Trump Hotels and Casinos Resorts in 2004.

“Trust a guy who has gone bankrupt six times… including twice with casinos? Good luck,” a critic quipped, with another piling on, “Six times bankrupt…but let’s let him run the global economy.”

Trump has previously defended his bankruptcies, claiming he strategically used Chapter 11 laws to restructure debts. However, Washington Post fact-checkers have confirmed that Trump’s companies declared six separate bankruptcies—despite his attempt to downplay the number.

Lutnick’s unwavering confidence in Trump comes as the U.S. economy faces mounting uncertainty, with rising recession fears, stock markets in turmoil and a $36 trillion national debt raising concerns about long-term economic stability.

Originally published on Latin Times