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Friday, October 22, 2021

White House’s Navarro: Trump’s tariffs not as disruptive as headlines suggest

White House's Navarro: Trump's tariffs not as disruptive as headlines suggest© Reuters. White House trade and manufacturing adviser Peter Navarro, a member of the U.S. trade delegation to China, leaves a hotel in Beijing

WASHINGTON (Reuters) – White House trade adviser Peter Navarro on Thursday told CNBC that U.S. President Donald Trump’s trade strategy with China, which includes levying new tariffs that have sparked concerns of a trade war, is not as disruptive as many describe.

“We got two economies that add up to around $30 trillion in annual GDP. The amount of trade we’re affecting with the tariffs is a rounding error compared to that,” he said during an interview at the White House.

“My point is that it’s much less disruptive than these headlines would suggest and it’s much more constructive as we see the adjustments made in terms of where investment is going to go and where we’re going to build.”

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Source: Investing.com

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