Posted on 09/26/2025 1:39:28 PM PDT by SoConPubbie
“We run chronic trade deficits which exceed a trillion dollars a year. Now, we’ve exported $18 trillion of wealth so far through the chronic trade deficit, and we’ve seen a reduction in our resilience, in our supply chains, our availability. It’s hurt our defense industrial base. It’s a national emergency in every possible way that you could think,” Navarro said in response to Breitbart News Washington Bureau Chief Matthew Boyle’s question about the president’s ability to strike trade and diplomatic deals.
Navarro explained that, during the first Trump administration, “we got a lot of resistance.”
He said that the “free trade RINO [Republican in Name Only] globalist Republicans, the Mitch McConnell types … weren’t buying what we were selling.”
However, he noted that the president has moved to quickly rebalance America’s trade relationship with the rest of the world.
“What the president has swiftly done is make it very clear to the world, they’re not going to cheat us anymore,” he said, adding that the president’s trade deals have brought down their tariffs and non-tariff barriers, as well as bringing in trillions of dollars of investment into the country.
Outside of fixing unfair trade relationships, Navarro noted that tariffs have brought in a staggering amount of revenue.
“Nobody thought when Donald Trump took office that we’d have tariffs in place that would turn a huge fiscal cliff deficit into what’s going to be a paydown through tariff revenues of trillions and trillions of dollars, all without creating any inflation whatsoever,” he remarked.
(Excerpt) Read more at breitbart.com ...
Peter Navarro served four months in a federal prison in defense of the Constitution. His new book, I Went to Prison So You Won’t Have To: A Love and Lawfare Story in Trump Land, is available now for pre-order in hardcover and eBook.
As with many political and economic fairy tales, “trade deficit” is a fiction.
While I am happy to see the trade deficit closer to balanced, I’d point out that nothing happens without some reaction. In this case, the reason the US dollar is the world’s reserve currency is everyone has a surplus of them. This is due to the fact that they profit from selling their stuff to Americans for dollars. What do they do with that surplus? They settle their debts with American dollars. If that surplus goes away, well...what happens? One thought is that the vast amount of dollars in the world are held overseas. If they come home, as implied by “balancing trade,” they will be competing in the local American market for American goods against other American’s seeking the same goods. I’d sure like to see some modeling of what that might make our economy look like.
I just ordered a large aluminum order for a project. Aluminum is down about 15% from the Chomo Joe years. All from Kaiser.
You are an economic idiot.
I’ve always had a lot of respect for Peter Navarro.....he’s a stand up straight shooter as far as I’m concerned
Post 2. Do you FR globalists monitor new threads for the words trade and tariffs?
“You are an economic idiot.”
Just like Milton Friedman, right?
Now go back to sleep.
Friedman is wrong. The last 30 years have proven Free Trade destroys the USA and enriches other countries. Facts are facts. So we are returning to protectionist prosperity.
If you don’t like it move to China.
I know. You’re smarter than Friedman in your own confused way...
Rots a Ruck...
My suggestion is to ignore that poster, as he posts insults to many who do not agree with his position on economics, including racial and ethnic insults.
As with many political and economic fairy tales, “trade deficit” is a fiction.
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That has been conventional wisdom since about the 1970s. When the US began to run persistent trade deficits. Because Milton Friedman said it.
Think of it this way. If that’s true and friedman is right—then lets let other countries run “trade deficits” for a couple of decades since “trade deficits” are a fiction.
It should not matter. Right?
All these countries than run billion dollar deficits with the USA give thanks that Freidman gave them cover to screw us. Again when are you leaving for China?
Another economic traitor checks in.
I do my best to ignore that guy. Sometimes I’ll respond but soon after, I’m done because he really doesn’t know what he’s talking about. He offers no rationale to refute your premise and offers no supportable alternative to your premise. He just sticks to his unsupported, conclusory statements and then, as you say, he reverts to elementary schoolyard insults. The guy is a complete waste of time.
I don’t know how he stays on FR. I would have thought the guy would be zotted by now.
If you really look at what is meant by “trade deficit”, you start to realize it doesn’t mean a whole lot, no matter who said what. “Trade deficit” just sounds bad, so it must be bad...
Go back to sleep ...and don’t call me, I’ll call you - maybe.
But wait, if trade and tariff imbalances imbalances are treated the same, perhaps we should treat them both as fiction, and the advantage in importing more than we export is also a fiction.
The Laws of Economics are not in play with the Billionare Corporatists running the show these days. It’s only getting worse at the grocery store,about the only place I shop in person any more. I retired about 10 years ago so not a lot of discretionary “extra” spending $$$. I am making as much from scratch as I can, but ingredients have doubled in price, too. My favorite locally produced pint of pickles was about $3.50 just a few years ago, expensive then to me. Today, I left them on the shelf at $10 !!! Income depletion of We the Peasants by whatever means available. Talk about RICO-Level collusion by Design... 🤑
More posts about 20 th century FAILED economic theory.
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