Bloomberg Talks White House Senior Counselor for Trade & Manufacturing Peter Navarro
Jul 12, 2025
Peter Navarro, White House Senior Counselor for Trade and Manufacturing, dives deep into the complexities of U.S.-Canada trade negotiations in light of recent tariff threats. He discusses the potential impacts on economic growth, job markets, and national security tied to tariffs. Navarro critiques the pessimistic growth predictions set by the Congressional Budget Office and advocates for recalibrated economic policies. He also provides insights into the Federal Reserve's role in shaping interest rates and the broader implications for American manufacturing and public health.
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Tariffs Address Huge Trade Deficit
- The US is using tariffs to address a massive trade deficit nearing $18 trillion over decades.
- Tariffs generate significant revenue and aim to transfer wealth, factories, and jobs back to the US.
USMCA Exempt from New Tariffs
- The 35% tariff threat on Canada does not apply to the USMCA trade agreement.
- Mexico is also exempt from this particular tariff increase.
Canada vs Mexico Trade Negotiations
- During NAFTA renegotiations, Mexico was a fair but tough partner, while Canada was very difficult.
- Navarro urges Canadian citizens to push their leaders for fair negotiation with the US.