White House Trade Advisor Peter Navarro Discusses Trade and Tariffs….

Terrific ‘big picture’ interview and discussion between National Trade Council Director Peter Navarro and CNBC’s Rick Santelli about President Trump’s trade policies, the threat of China, and the future of how our nation will deal with allies and trading partners.

.

A perpetual trade deficit is detrimental to our American economy because it is financed with debt. We can buy more than we make because we borrow from trading partners. The trade deficit simply means we purchase more foreign goods, and send more money overseas, than they purchase from us. We then turn around and borrow back the money we just paid.

Another broad concern revolves around national security. A perpetual trade deficit is a statement about the competitiveness of the U.S. economy itself. By purchasing manufactured goods overseas for a long enough period of time, U.S. companies lose the expertise and even the factories to make those products; ex: try finding a pair of shoes made in the America. As the United States loses manufacturing competitiveness, we outsource more jobs, and our total standard of living declines.

Advertisements
This entry was posted in Big Government, Decepticons, Donald Trump, Economy, media bias, President Trump, Transportation, Uncategorized, US Treasury, USA. Bookmark the permalink.

73 Responses to White House Trade Advisor Peter Navarro Discusses Trade and Tariffs….

  1. Everywhereguy says:

    Where am everybody?

    Liked by 1 person

    • fleporeblog says:

      Many including myself were really surprised when the 4th Quarter real GDP came in at 2.6% when it was released (January 26). We were even more surprised when it was revised on February 28th to 2.5%. We all asked how could that be given what we were seeing and reading about the Christmas shopping which was up 6% from the previous year.

      We all fell into a fallacy! Yes Americans were buying more than they had in a very long time. Consumer confidence is at all time highs. However, since so little of what was purchased was made in the USA, our imports had to be increased because of the demand. That increase in imports is a complete subtraction from our real GDP.

      This tweet by Sarah that was released about an hour ago makes the point I shared above! Canada in 2017 had a $17.58 Billion dollar surplus with us. Check out what the dollar amount was for January 2018. That is $3.63 Billion dollars. The Canadians are as happy as happy can be because Americans are confident in the economy and have extra money in their pockets. They and others are the ones that are benefiting. Not us!

      The Mexicans love our confidence in the Economy and the fact we are willing to spend more! This tweet tells you how much they are benefiting.

      This tweet by Charles Payne tells you the story about how the World is happy as hell because Americans are spending more.

      We have to wake up or we will lose it all! What I showed is the master plan of the last 4 administrations. Spend more so that the world’s GDP expands (3.5% last year) while ours evaporates because we are the ones that caused the 3.5%.

      Liked by 6 people

    • Bottom line that that Trump is not using enough arguments that could get even liberals onboard is pollution. China pollutes A LOT. Pollution economically represents costs that are not factored into market prices…costs that our producers cannot avoid. It gives China an unfair advantage in many industries. Does it make any sense a country that has no iron ore and is 1000s of miles away can land a commodity product and ship to the Midwest cheaper than a Midwest steel plant can make it from melted down cars? The Chinese cheat as do the Koreans. The industries are subsidized while our cannot earn their cost of capital leading to chronic under investment in both plant and attracting the best workers. Workers who are good need steady work…not 6 and 18 month layoffs every 3-5 years. The best move on and re invent themselves and the stragglers hang around the hoop waiting for a call back….this hurts productivity when things ramp up. This has to stop.

      Liked by 4 people

  2. Deplorable_Infidel says:

    New pedestrian bridge collapse in Florida.
    wanna bet inferior Chinese steel is to blame?

    Liked by 9 people

    • Skinner says:

      Could be! It was reinforced concrete – rebar all over the place, or may be not? My money is on some sweet graft between the city and the contractor – bill the city $9M, cut corners while building insitu alongside the road, lift into place, pocket $7M.

      Liked by 3 people

    • Sylvia Avery says:

      I hate to go straight to politics at a time like this, but I’m gonna do it anyway even though I am so sorry for all the people involved in this horrible event.

      I hope it was a failure of inferior Chinese steel. I really hope it was. That will shut up the “but tariffs on Chinese steel will ruin the economy” yappers and THAT will make me smile.

      Liked by 6 people

    • GB Bari says:

      Not entirely, if at all. When the analysis is done, it will point to design flaws not discovered in the permitting process (government employees), and/or shortcuts in construction that were not in the design nor approved, also potentially inferior workmanship by on-site labor. I’d be real curious if any of that labor was foreigners on work visas or just illegal. This is yet ANOTHER tragic incident in Florida, in a Democrat-governed area.

      Like

  3. Deplorable_Infidel says:

    Peter Navarro was briefly on last night (Lou Dobbs?*), but did have enough time because of a technical difficulty.

    Gotta start taking notes. These “senior moments” are getting annoying and I am not that old yet. Maybe try that Previgen.

    Liked by 2 people

  4. Dan Patterson says:

    Any thoughts on how the nascent trade policy improvements will be affected by a possible democrat resurgence in Nov?
    Thoughts on the Nov elections in general and how trade and banking might be in play?

    Liked by 1 person

    • Brian L says:

      Majority of Republican seats are in deep red areas, majority of Democrat seats are in competitive areas, worst case the status quo is upheld.

      Liked by 1 person

      • Pa Hermit says:

        It’s a bit strange that the Repubs are losing seats in these re-elections. Maybe time Trump tones down his language to be less radical in his descriptions. The rest of America seems a little put off on that. Dems say often he is very abrasive.

        Like

        • Don’t think that is the issue. The truth may be abrasive but never radical except to snowflakes. Congress needs to come together and pass the agenda & approve POTUS’ appointments. Congress needs to start talking the talk & walking the walk. POTUS can’t do it all.

          Liked by 4 people

          • DGC says:

            To restate your comment slightly differently, what exactly do the Republicans in Congress expect given that they have often been OPENLY hostile to the agenda of the President, to the point of not accomplishing anything that ordinary people will either understand or care about until they barely passed tax reform?

            Time to either get serious and act like a unified party against an entirely intransigent, profoundly angry and insanely crazy opposition or lose. The Democrats are not playing games. Regrettably, a Republican loss will be catastrophic for the rest of America at this point if it puts the Democrats back in power.

            Liked by 2 people

        • LafnH2O says:

          May be time -cough- Repub candidates get off their @sses, stand on their own two feet and ….. WIN!!!

          Liked by 2 people

        • Brian L says:

          They’re 5-2 in competitive districts, and that’s with all of the sabotage a la Ryan and Bannon. Not too shabby.

          Like

    • applevista says:

      It would not surprise me at all Republicans run the table in November.

      Liked by 2 people

      • Deplorable_Infidel says:

        There may be exceptions. I am thinking in particular of the voters in Maxine Waters (D-CA) district. Those people might be a special case, just like their representative.

        Liked by 4 people

        • Sylvia Avery says:

          That could be interesting. Mad Max moved out of her district some time ago and lives with the rich folks in her multimillion dollar mansion. Her old district, the hood, has been overtaken by immigrant Latinos or so I am told and the Republican challenger, Omar someone, is a Latino who actually lives in the district AND it seems I read somewhere that he is a pretty good candidate. A lot smarter than Auntie Maxine, not that THAT would be difficult….

          Liked by 6 people

          • Deplorable_Infidel says:

            I posted here last week that Maxine’s challenger should just use a postcard with a picture of Maxine’s house, along with her message, to every household in the district.

            If volunteers would canvass neighborhoods to deliver, it would be effective and inexpensive (avoiding postage)

            Liked by 1 person

    • Ausonius says:

      Concerning the Pittsburgh area election on Tuesday: I have read where the Republican, an aging c. 60 year-old plump, jowly Baby Boomer, was a terrible candidate, whereas the Dem looks like he’s ready for his close-up: athletic, 30-something, big smile. He supposedly ran as something of a Conservative!

      Given how too many people vote on appearances and impressions, given how Conservatives tend to become complacent too quickly, given the energizing hatred among left-wingers, we are lucky that the margin was c. 600 votes! (And turnout was 1/3 or so of the electorate.)

      Conservatives need to get pumped…or get dumped! And we need fresh candidates who know how to debate, and who can also appeal emotionally (i.e. physically) to the voters who base their votes on superficial things.

      Liked by 2 people

      • Tiana says:

        Ausonius, I agree…. We need new candidates. A lot of the incumbents are not conservatives but republicans of the uniparty…

        Yesterday, in the article about the republican congressional superpac actually supporting the democratic candidate, Sundance pointed out correctly that the republicans of the uniparty really don’t want to rule… they want this role to go back to the democrats… thus all these elections will actually be sabotaged by the republicans in congress in one way or another…

        I also believe, that all these republicans that are resigning (39 or so), are either paid to resign or blackmailed into it…

        The ones that are still there to run for re-election are not putting any effort into it, and are not supporting the Trump agenda, leaving their voters lost and confused…

        The Congress is corrupt… they destroy actively from within (Mitch and Ryan) any chance of a republican majority… then they can claim to the less informed voters that there is just nothing they can do to help POTUS since they are in the minority…

        Also, in a couple of states the courts are redesigning the districts in favor of democrats… I think PA is one of those…

        One blogger suggested yesterday that we have to start grassroots movements at the local level… and I strongly agree… we need fresh, exuberant candidates with strong agendas… agendas that reflect the wishes and needs of the people of a district…

        Like

        • Deplorable_Infidel says:

          “A lot of the incumbents are not conservatives but republicans of the uniparty”

          Fresh meat spoils quickly in the swamp. The newcomers find out fast that they have to suck up to the “party” for committee assignments, re-election money, etc.

          Like

  5. missilemom says:

    The graph says so much! Government subsidized health care and student loans that block the middle class. Short term loans in real estate make business sense; leveraging our kids future with defecits in infinity does not. Navarro has been everywhere nonstop. He is tenacious.

    Liked by 9 people

    • Deplorable_Infidel says:

      Another thing to notice is what went up the most – College and Health Services, which are items where there is a virtual monopoly. You cannot shop around for an emergency room.

      If you are in school, you are beholden to the textbooks the professors are using. Every two years or so, a new edition comes out. For math textbooks, they use the same problems and solutions. However, the chapters and order is changed around so much that it is an exercise in futility to try and use an older edition.
      Minimal changes are made in Accounting textbooks, changing a little and using different pictures.

      Liked by 8 people

    • MGBSE says:

      The graph confirms the items the obamaphone voters purchased – that were NOT covered by welfare or foodstamps – drooped 100% in price during the puppets 8yrs…during that same period if time, the prices of the items the people who quaily for NOTHING and pay for EVERYTHING – aka white privilege – rose as much as 200%…gee if I were cynical I might think this might be intenional.

      Liked by 3 people

    • Sylvia Avery says:

      I have always liked Peter Navarro. He is a good communicator.

      As for that chart, I keep going back to look at it and marvelling over it. It sure tells the story, doesn’t it?

      Liked by 2 people

  6. quintrillion says:

    The Trade Team Wolverines are working at the speed of ‘Trump Time’ not slow bureaucracy time.

    Liked by 6 people

  7. sundance says:

    Liked by 7 people

  8. sundance says:

    Liked by 9 people

  9. mostlyogauge says:

    I think the food and beverage increase shown in the graph (looks to be about 60%) is actually higher than that. How many times over the past 20 years or so has anyone purchased and opened a container of whatever to find that the contents of said container is just smaller???

    Liked by 10 people

    • Deplorable_Infidel says:

      Tuna fish is one example. they put 1/4 to 1/2 oz less in the cans until they had to make the cans smaller. Candy bars have been downsized -you name it.

      Remember when people were outraged when bread hit $1.00 per loaf? Now a single roll cost 50 cents and a bagel 75 cents in an upstate NY supermarket. ten years ago a can of anchovies was about $1, now it is $1.75.

      sundance had an excellent explanation of the increase in the cost of food in the NAFTA posts at the end of December:

      https://theconservativetreehouse.com/2017/12/26/exiting-nafta-the-myth-of-global-markets/

      Liked by 8 people

      • Sylvia Avery says:

        Food is one of my biggest expenses after my mortgage and insurance, and I don’t eat that much, believe me! And yet every single time I pay the bill at the grocery store I walk out with my bag or two of groceries and think how can this little dab cost so much money?

        And the thing of it is, you have to have food! I can’t just give it up entirely! It just shocks me every time I go to the store and has been shocking me for at least ten years now, and it just seems to get worse, never better.

        Liked by 8 people

        • Twinkletoes says:

          Sylvia,
          I’m an almost 80-year-old woman who lives alone and seldom entertains any more. I do try to buy “real” food and avoid the processed junk, as fresh vegetables are generally cheaper than prepared/semi-prepared/frozen dishes. But today two half full plastic bags cost me $64. And I shop the sales.

          Liked by 4 people

          • Sylvia Avery says:

            I can totally relate to your experience.

            I almost never buy any processed foods any more, I shop around the perimeter of the store in the produce section, the meat section, etc. And I shop sales, and locally we have a store called The Grocery Outlet that buys items that are overstocked or being liquidated so sometimes they will have regional brands that aren’t normally carried in this part of the country, etc. They are often a lot cheaper, but they don’t have much variety in the meat and produce but still it is a little less expensive.

            And still, every darned time I walk out of one of these stores with my little bags of groceries and wonder how on EARTH it could cost so much.

            And it isn’t limited to the grocery store. It wasn’t all that long ago when you could go to a fast food store and get a hamburger, fries, and drink and it would be around five bucks. I went to Carl’s Jr. for a burger with a friend last week and we decided to split a small order of fries. The french fries were $2.09. Okay, that isn’t going to break the bank, but seriously? For a small order of fries? It totally wasn’t worth it. I don’t know how people feed young families!

            Liked by 2 people

            • spren says:

              Sylvia, I’m not sure if you’re crazy about McDonald’s or not, but get their app on your phone. They run amazing deals regularly. Like $1 for any sandwich. And many more. I never go there without using their app.

              Liked by 2 people

              • It’s very hard to find good conservatives. And when the good guys step, their fellow Republicans run away from them at the first unverified scandal headline! And if and when the good guys get in, more often than not, they get co-opted by their politically trained opponents.

                For 10 years I saw that in my deep, deep red county. They are finally catching on, but I think it may be too late. The good guys won’t run any more.

                Like

        • Janie M. says:

          Sylvia, to save as much as possible, I get weekly email sales ads from the 3 main grocery stores (one gives you a sneak peek a day or two before). I am also fortunate to have an Aldi’s in town so the other stores have to price competitively. Our sales run from Wednesday to Tuesday. Sometimes, I have to buy more than I had anticipated. Last year, bought a bone-in whole loin for 79 cents a lb, but it wasn’t totally butchered to my needs. It was about 13 lbs of meat and I had to cut down the portions further (had to buy a good boning knife) cutting more chops or make the cut boneless. It was extra work but worth it in the long run. Yeah, I’m weird that way. 😝

          Liked by 1 person

          • Janie M. says:

            It was a pork loin.

            Like

          • kroesus says:

            if you can properly plan sale items typically run in 4-6 week cycles…..if you can but enough canned and dry goods to last between cycles it will save lots of money over the long term……meats are getting insanely expensive so try to tailor your consumption type to those getting sold in discount……I have seen bacon for as much as $9/lb of late but limit eating it to get it at the $3-4/lb cost

            Liked by 1 person

            • Janie M. says:

              kroesus, Aldi is a life saver for staples but sometimes, it doesn’t have everything I need/want. I picked up 2 gallons of milk at Aldi, earlier in the week, @ 98 cents a gallon and I got a dozen of large eggs for 48 cents. And their whole fryers are always 95 cents a lb. – I don’t mind having to cut them up, doesn’t take long. Walmart also matches their milk price so for the extra items I want that Aldi doesn’t carry, I shop there. I have a running tally of prices running in my head after the sales ads come out and shop accordingly.

              Liked by 1 person

      • Turranos says:

        Remember candy bars for a nickel?

        Liked by 3 people

        • G. Combs says:

          YES! I also remember penny candy and gas for under 0.20

          Liked by 2 people

          • kroesus says:

            the FED touts 2% inflation as their targeted inflation rate for a “stable” economy….that means in a mere 36 years your money’s purchasing power is halved and that is a very conservative estimate since often it is higher than that in reality…..they do not call inflation the “hidden tax” for nothing

            Liked by 1 person

        • Derek Hagen says:

          A movie with two shorts, a cartoon, and a Three Stooges episode, a coke and a small chocolate bar for 25 cents on Saturday afternoon. That was half my allowance.

          Liked by 2 people

          • H.R. says:

            Ha! you were born with a silver spoon in your mouth. I only got 10 cents per week until 4th grade. Then it jumped to 25 cents. After 6th grade I had to earn my own money.
            Rich kids. Ha!
            😜
            (Yankin’ yer chain, but that actually was my payout schedule.)

            Like

            • Deplorable_Infidel says:

              When I was 15 and got my “working papers” (which allowed me to work part time during the school year) the minimum wage was $2.10/hr.
              I got a raise the next year when it went to $2.30/hr.
              1975-76

              Like

        • Janie M. says:

          Yes, Turranos!! BTW, if you had been here last year we had a great, nostalgic, open thread where we ended up discussing candy bars, penny candy and selling pop bottles for candy money (late 1950’s and the early 60’s). So many great memories from those posts. I was born in 1951.

          Liked by 1 person

      • Blade says:

        Tuna fish is one example. they put 1/4 to 1/2 oz less in the cans until they had to make the cans smaller. Candy bars have been downsized -you name it.

        I noticed that myself. But this also meant thinner gauge steel, which sounds logical as far as weight and economy to the bean counters, but has created sharper cans and lids, much sharper, once the can is opened. You are essentially handling large round razor blades when you deal with canned tuna.

        There hasn’t been a time I opened a can, hundreds over the past few years, that I haven’t thought about the likelihood of a serious cut that someone is experiencing somewhere at that moment, and the potential of big lawsuits in this litigious society. That leads to another thought – they surely must have factored this into their ‘thinking’. And that means they are willing to accept it in the interest of cost-benefit analysis.

        Like

    • Janie M. says:

      mostlyogauge, most definitely smaller cans (less content). Tuna used to have 6 oz. of product (been 5 for a number of years); canned veggies have gone down to 15 ounces and some have gone further to 14.5 oz. Last year, I noticed the difference when making a dessert using jello…it didn’t set correctly (too soft). Turns out the recipe was more than a couple years old and a slightly higher amount of water was used back then because there was MORE jello-o in the older boxes. I had used a box of gelatin that had less product. And have any of the prices gone down?

      Liked by 5 people

    • Carrie2 says:

      mostlyogauge, right on! I still have kleenex plastic containers from the 50’s and it is now very obvious how much the kleenex itself has shrunk – maybe 2 inches with fewer in a box and at a higher price.

      Liked by 4 people

  10. Deplorable_Infidel says:

    I have a Grainger engine driven centrifugal pump # 3P582 that was new about 10 years ago. Being the pack rat that I am, I have old catalogs to compare prices over the years. They are as follows:

    Cat # 364 Fall 1983 $604.81
    Cat # 371 Spring 1987 $721.02
    Cat # 388 1997 $911.50
    Cat #404 2013-2014 $1898

    Over the past two years, I have seen the on-line website price as high as ~$2100
    Today it is $1902

    https://www.grainger.com/product/DAYTON-8-HP-Aluminum-305cc-Engine-3P582?searchBar=true&searchQuery=3P582

    Liked by 6 people

  11. Pentheus says:

    My favorite fun to invest in the future of consumer spending: IBUY

    Like

  12. Ozark says:

    Little Ben Shapiro at it again,
    “Yes, Tariffs Are Still Stupid. Here’s Why.”
    https://www.dailywire.com/news/28302/yes-tariffs-are-still-stupid-heres-why-ben-shapiro

    Liked by 1 person

  13. The Boss says:

    The steel and aluminum tariffs help counteract currency manipulation, besides providing negotiating leverage. That said, how nice to see Rick Santelli (father of the modern Tea Party) discuss the impact of tariffs with Navarro in a professional manner. (Especially after reading the deluge of comments elsewhere on this site from newly minted nervous nellies and pearl clutchers).

    Liked by 2 people

    • Boss, thanks for that reminder about that famous Santelli rant! It felt as if an electric shock had pulsed throughout the US. As if in a movie, I sat up straighter, my eyes opened wider and I felt is if I had been released from a spell! Amazing.

      Like

    • Deplorable_Infidel says:

      “Tea”

      This is nothing personal, BOSS, I just wanted to comment about this here:

      I have a minor pet peeve about this ; “Tea”, instead of this “T.E.A.”
      Because, when was the last time you heard or read what TEA stood for?

      Taxed Enough Already.

      Most everyone that frequents here knows that the loosely knit group is composed of relatively conservatively minded patriots that want limited government, less taxes and regulations in accordance with our constitution as written and intended by the founders. However, the MSM has branded the modern T.E.A. movement as radical revolutionaries. In reality, we are nothing of the sort.

      The original Tea party advocated the overthrow of the yoke of King George III upon the colonies. Us humans naturally have a tendency to take the easy way, hence the acronym is almost universally used now instead of saying “Taxed Enough Already”.

      I really wish that real Republicans and conservatives would try and start making a conscience effort to dispel the error by using the full term, instead of the easy way out.
      especially on TV. It might be able to dispel some of the erroneous notions out there. Most of the young people today do not know the true definition of “socialism, either.

      Like

  14. starfcker says:

    Terrific is a great way to frame this interview. It’s amazing how reasonable these policies sound when you don’t have a rabid dog ask the questions. Bravo, Rick

    Liked by 2 people

  15. Beigun says:

    100 cumulative years of trade deficits with NE Asia (Japan, Korea, and China) for America.

    The US Navy has provided protection for NE Asia energy from the Middle East, expending blood and treasure to keep the Sea Lanes Of Communication free from hegemony. In return, the American Middle Class became a minority.

    Fixing trade also means rethinking alliances in Asia.

    Overseas bases no longer trump economics for US security.

    Besides, future technology makes some alliances obsolete…better to invest in the new Space Force vision of Trumph!

    Like

    • GB Bari says:

      “Overseas bases no longer trump economics for US security.”
      I’d say they’re equally important. Can’t have either one without the other. What good are improved trade deals if the countries making them with us are invaded and destroyed by stronger enemy powers?

      Like

      • beigun says:

        America did fine without overseas bases for most of the history of the Republic. To argue that overseas bases are required for US economic security implies that we will always need overseas bases. Is that really necessary?

        If Trump resolves the Korea problem in a peaceful manner and the Koreas were reunified, would US bases still be required in Korea and Japan???

        Like

  16. Bonitabaycane says:

    Navarro is very knowledgeable and seems more comfortable with each interview.

    One of the most powerful points he continues to make is: “Every billion dollars in trade deficit we have, that’s 6,000 jobs we lose.”

    That point needs to be made over and over again, until it finally sinks in.

    Like

    • G. Combs says:

      Every billion dollars in trade deficit we have, that’s 6,000 jobs we lose and another country gains.

      35 years of CHINA GDP
      YEAR —— GDP in Trillions
      (current US$)
      1980 — 0.191
      1985 — 0.309
      1987 — 0.273
      1989 USA imposes sanctions – Tiananmen Sq
      1990 — 0.361
      1994 Clinton extend to China’s most-favored-nation status
      1995 — 0.734
      2000 — 1.2
      2001 Clinton helps China enters WTO
      2005 — 2.3
      2010 — 6.1
      2016 — 11.2

      4. More important China’s GDP PER PERSON takes off. google link

      CHINA
      <YEAR —— GDP per capita
      (current US$)
      1980 —- 194.81 USD
      1885 —- 294.46
      1987—- 251.81
      1995 —- 609.66
      2000 —- 959.37
      2005 —- 1,753.42
      2010 —- 4,560.51
      2016 —- 8,123.18

      Like

  17. Nan says:

    “Try finding a pair of shoes made in the US”

    This is a serious problem. I do re-enactments, and none of the shoe vendors (small business owners all of them) can afford to manufacture in the US. So unless you’re going for a handmade pair of men’s specialty calvary boots that cost $500 and and hand-made in somebody’s workshop, everything’s shipped in from China or Mexico. One of the more popular shops right now has what amounts to an apology for this on their website. Even then, her shoes are still in the $150-200 range, which is quite expensive. I imagine that a lot of smaller-scale businesses that require special-built products are in the same range.

    How much more variety and uniqueness in products would we have if we brought at least part of that manufacturing base home?

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s