Peter Navarro, President Donald Trump’s senior counselor for trade and manufacturing, told Newsmax on Friday that there should be no concerns the administration’s plans for tariffs on imported goods from China, Canada, and Mexico would be inflationary.
“It’s silly, silly rhetoric,” Navarro told “Rob Schmitt Tonight.” “Tariffs are absolutely not inflationary. How do we know that? Because Donald Trump instituted the most aggressive tariffs on China steel, aluminum, dishwashers, solar panels. We had zero, zero. We’ve done it before.
“There’s about 10 reasons why, but the biggest reason is producers, foreign producers, bear the brunt of them.”
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