Peter Navarro, a senior trade and manufacturing counselor, appeared on Fox News on Thursday to discuss the Trump administration’s plans to implement “fair trade” for the country.
Trump announcement Thursday’s “fair and mutual plan” on trade signs the president’s memorandum “to correct long-standing imbalances in international trade and ensure full equity.” On “Jesse Watters Primetime,” Navarro said other countries would “cheat” the United States.
“The rest of the world fools us. They steal our work. They steal our factories. They damage our defense industrial bases and ultimately It steals our national security,” Navarro said. “I’d like to talk a bit about the issues we’re facing. You’re taking Europe, right? We’re in a $200 billion trade deficit, but a lot of that is happening in the automotive industry. Masu.”
“So consider the Cadillac rolling from the assembly line in Lansing, Michigan, and trying to sell it over Bremerhaven to the German market. When a $50,000 car starts here, you’ll go over there. slap us a 10% tariff. This is four times our tariff. Then they were subject to VAT tax, VAT tax. This works like a tariff.” Navarro added. “It’s already 19%. So by the time Cadillac gets there, it’s $65,000. It had to be sold for $65,000.”
Navarro uses BMW as an example, saying that when the car arrives in the US from Germany, the US has only added a “conservative 2.5% tariff” and only makes the cost “$51,000”. However, he said “the German government is reimbursing 19% VAT tax,” and that BMW can be sold for $42,000 against a $65,000 Cadillac.” (Related: “Naive Globalism”: Conservative groups seeking “hard breaks” from the Chinese economy)
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“The difference now explains why Germany sells more than eight times more cars than we sell them. “So what a fair and mutual plan does is that we are big It’s about looking at all the EU countries carrying out trade deficits of scale. We’re going to see exactly which tariffs they’re fooling us and what our boss calls a non-financial barrier. I’m going to know about it.”
In January, Trump warned Canada, Mexico and China that it would hit them with increased tariffs for illegal fentanyl that they allowed them to supply and distribute to our country. February By the 1st, the president had proceeded with his pledge, placing a 25% tariff on Mexico, a 25% tariff on Canada and a 10% tariff on China.
A few days later, Mexican and Canadian leaders swiftly acknowledged the president’s demands, and Mexican President Claudia Sheinbaum sent 10,000 soldiers to the border as Trump agreed to freeze tariffs for a month. I agreed to do so.
“We sold this country in Shafta and Naphta for 40 or 50 years and put China in the World Trade Organization. We held a deficit of $1 trillion each year, and the trade deficit and that money bought the factory. It is used to buy land, buy property, buy farms, etc. Donald Trump says it won’t happen anymore,” Navarro said.
“The words of very fair trade, fair and mutual planning, tariffs are beautiful. It’s politically beautiful because Democrats can board,” Navarro said. “Look, this is a Democrat, a Republican, both right and left. It’s American. If you love America, you’re here, you have jobs and factories here, and you have a strong defense industry You want a base. Therefore, you will be safe, safe and prosperous.”
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