mishtalk.com / Mike “Mish” Shedlock / March 6, 2017
Peter Navarro, Trump’s trade czar, went after Germany and China again today. Navarro claims Trade Deficits Endanger U.S. National Security.
The director of President Donald Trump’s newly formed National Trade Council said Monday the administration would make the reduction of U.S. trade deficits its top policy focus.
Speaking to a conference of business economists, trade adviser Peter Navarro said the U.S. faced a growing economic and potential national security risk from the commercial behavior of its major trading partners, including China and Germany.
“Bilateral trade deficits do indeed matter, and it is a critical economic goal and in the interest of national security to reduce these deficits in a way that expands overall trade,” Mr. Navarro said.
He warned the U.S. could lose a “broader cold war…not by shots being fired but by cash registers ringing.”
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