WH Economist Says U.S. Aluminum Industry Will Be Gone In a Year or Two

0

Peter Navarro is an American economist who currently serves as the Assistant to the President, Director of Trade and Industrial Policy, and the Director of the White House National Trade Council. He is one of the forces behind the steel and aluminum tariffs the President promised are coming next week.

On Fox News Sunday, he told Chris Wallace the aluminum industry will be gone in a few years if something isn’t done.

“Our aluminum industry, make no mistake, that thing is on life support. That will be gone in a year or two if the president doesn’t take the courageous actions he’s proposed. So —”

World Trade Organization Has to Change With the Times

Jake Tapper told Navarro on State of the Union that there is every reason to believe the World Trade Organization (WTO) will take action. Tapper asked him if the President would think of leaving the WTO.

Navarro said the U.S. isn’t going “to take it anymore”. The U.S. has the lowest tariffs in the world, lowest non-tariff barriers in the world. All we get from that is “not fair and reciprocal trade” and “a half a trillion dollars a year in trade deficit that puts our wealth offshore and our jobs offshore.”

A lot of the 160 countries in the WTO “don’t like us”, we don’t get good results”. “We’re free traders and “reciprocal traders”, the WTO “needs to change with the times”.