12:20 PM EST, 02/20/2025 (MT Newswires) -- Shares of Royal Caribbean (RCL), Carnival (CCL), Norwegian Cruise Line ( NCLH ) and Viking (VIK) were down Thursday after newly confirmed Commerce Secretary Howard Lutnick suggested the Trump administration would force cruise operators to pay US taxes.

In an interview on Fox News late Wednesday, Lutnick singled out cruise operators, asking, "You ever see a cruise ship with an American flag on the back?" adding that "None of them pay taxes... This is going to end under Donald Trump."

Lutnick also said President Donald Trump aims to abolish the Internal Revenue Service and raise revenue through charges against other nations.

His remarks follow the administration's earlier statements about creating an External Revenue Service to oversee tariffs and other foreign income streams.

In recent trading, shares of Royal Caribbean, Carnival Corp. ( CCL ), Norwegian Cruise Line ( NCLH ), and Viking dropped by approximately 9.4%, 6.9%, 7.3% and 4.2%, respectively.

Price: 239.87, Change: -24.14, Percent Change: -9.14