Bloomberg Surveillance Bloomberg Surveillance TV: May 9, 2025
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May 9, 2025 In this discussion, Peter Navarro, former Director of the Office of Trade and Manufacturing Policy at the White House, shares keen insights on the complexities of trade negotiations, emphasizing the balance between economic goals and national security. Alicia Levine, Head of Investment Strategy at BNY Wealth, provides a compelling outlook for the S&P 500, considering the implications of current trade agreements. Together, they explore how evolving trade relations affect investment strategies and market dynamics.
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Navarro's China Negotiation Experience
- Peter Navarro shared his personal experience negotiating with China in Geneva, highlighting their continuous WTO delegation and negotiation tactics.
- He contrasted this with changing U.S. administrations and emphasized the complexity of negotiating with China compared to other countries.
Trade Barriers Differ by Country
- Every country cheats in trade differently, using tariffs, non-tariff barriers, and currency manipulation.
- The US-UK trade deal serves as a template focusing on tariffs, digital taxes, and leveling the playing field.
Non-Tariff Barriers Are Key Challenge
- Lowering tariffs alone is insufficient; non-tariff barriers like the EU's VAT tax pose bigger challenges.
- Addressing these non-tariff barriers is critical for fairer international trade instead of just aiming for zero tariffs.