Marcha 23, 2018

Trade Guru, Peter Navarro, Takes WH Spotlight

13 Marcha 2018, 12:26 | Crisanna Felipe

Trump on track to sign tariffs this week: White House

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Unlike Cohn, Liddell might be more willing to cooperate with the president's populist policy agenda.

"For a long time, there were a lot of long knives out to get him", said Paul, who served as a member of the White House Manufacturing Jobs Initiative before resigning last summer. "Frankly it's a disgrace, the sanctuary city situation, the protection of these disgusting criminals", Trump said last month. "But there's a chance Trump won't be able to resist sticking it to them".

Always improvisational, the president exercised his penchant for going it alone in a big way this week: first, by ordering sweeping tariffs opposed by foreign allies and by many in his own party, then hours later delivering the stunning news that he'll meet with North Korean leader Kim Jong Un. Some may argue that what Mr. Trump is doing isn't all that different from what one previous GOP president, Ronald Reagan, did when he punished Japan for its trade practices, and another, George W. Bush, did when he imposed his own version of steel tariffs. Trump essentially blurted out the news at a White House meeting, blind-siding Cohn and the rest of the Administration team, in what amounted to a coup d'état by Ross and the protectionists.

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Peter Navarro, Trump's trade and manufacturing adviser, said in an interview on Fox Business on Wednesday that the tariffs would go into effect within about 15 to 30 days and that the proclamation signed by the president would include a clause that would not immediately impose tariffs on Canada and Mexico. He joined the Trump administration previous year and has worked closely with Jared Kushner, the President's son-in-law and senior adviser.

After indicating in a tweet that China had been asked to create a plan to reduce its trade deficit with the US, which recently ballooned 16.7% to $36 billion in January, the highest since September 2015, President Trump said last week in a tweet that he planned to take action and put an end to IP theft. "They seem to be taking a sledge hammer to a problem that needs a more surgical approach".

But Wall Street has been appalled with Trump tariff plans, hastily announced last week without full details and prompting worries of a trade war that could undermine the benefits of the tax cut. He said the tariffs will help preserve steel and aluminum jobs. Cohn announced his resignation this week amid a dispute with Trump over coming tariffs.

Trump signaled other trade actions could be in the works.

Trump has hinted that he has accepted Navarro's position, since he can use the steel tariffs as a negotiating ploy to gain concessions from Canada and Mexico - two of the four largest steel exporters to the United States - on the renegotiation of the North America Free Trade Agreement. The BAT proposal would be or a defacto universal tariff that the Club For Growth's Andy Roth called "a $5.6 trillion tax hike on consumers", economic proposal with much greater impact affecting a much larger swath of the economy.

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