Older counsellor for trade and manufacturing Peter Navarro continued to defend levies on behalf of his boss, President Donald Trump.
In recent weeks, the president unveiled 10 % tariffs against Mexico, Canada, and China to start Apr. 2 along with a 25 % tariff on foreign automobiles. Even though the taxes have yet to begin, the property market has already had negative reactions, but Navarro tried to calm the marketplaces.
” The concept is that taxes are tax breaks. Taxes are work. Taxes are regional stability. Taxes are great for America. Taxes did make America great again”, Navarro said on Fox News Sunday. ” First of all, we’re gonna increase about$ 100 billion with the engine taxes alone. … This is a talent issue that President Trump promised on the campaign path. But, that’s gonna happen. In addition, the other tariffs are gonna raise about$ 600 billion a year. About 6 trillion over a 10-year phase”.
Fox News host Shannon Bream pushed Navarro, citing Trump’s own thoughts that the tariffs may add up to” a small commotion” for the American consumer.
” Trust in Trump. We have the case from the first word. We know that we imposed historically higher taxes on China. We imposed aluminum and steel taxes. We imposed on washing machines, on renewable. All we got out of that, Shannon, all we got out of that was growth and value stability”, Navarro said. ” And the reason why we’re not gonna see prices is because immigrants are gonna eat most of it. They have to. We’re the biggest market in the world, Shannon. They have to be here. They have to be here. But, they’re gonna cut the costs to collect that”.
On a later Fox News Sunday segment, Sen. Mark Warner (D-VA ) scoffed at Navarro’s estimates of how much money the tariffs could bring to the U. S. The senator implied that strenuous tariffs could have the same effect as when some were applied in the 1920’s just before the Great Depression.
TRUMP SAYS 25 % AUTO TARIFFS WILL’ ABSOLUTELY ‘ Get Continuous
” That is a duty. That income doesn’t appear falling out of the sky. That wealth comes because these items will go away. Americans may give more”, Warner said.
Navarro’s minute stint of services as an assistant to Trump follows him being convicted of two matters of contempt of Congress after refusing to turn over records to the Jan. 6 council and declining to speak to them. As a result, he served four months in prison in 2024.
