Trade Guru, Peter Navarro, Takes WH Spotlight

  • Trade Guru, Peter Navarro, Takes WH Spotlight

Trade Guru, Peter Navarro, Takes WH Spotlight

Prime Minister Justin Trudeau said earlier on Thursday there was a "level of confidence" that the country's close relationship with the United States would protect it from the US tariffs.

Mr Trump's announcement last week of his plans to impose the tariffs sent USA stock prices tumbling and came after an intense debate within the White House between Mr Cohn and other advocates of free trade, on one side, and protectionist advisers such as Peter Navarro on the other, according to White House officials.

"China is a very bad actor when it comes to trade practices across a lot of things, but nothing's more important in the near term than addressing the theft of our intellectual property and the forced technology transfer of our technologies", Navarro told Maria Bartiromo on "Sunday Morning Futures", adding that "the president says that's not going to happen anymore. I think we're going to go through a circular trend of a much more restrained free market", he said then.

The President and Mr. Navarro share the same hard-line views on trade that were a centerpiece of President Trump's campaign.

"We've had 30 years since the mid-'80s, both in New Zealand and here in the United States and globally of basically free markets driving the whole thinking".

As part of his announcement, the president exempted Canada and Mexico from the barriers for now. Mr. Trump had also said in tweet early in the month that " trade wars are good, and easy to win". But Trump said other American allies can get exemptions later, in exchange for something in return.

Yesterday, Canada was granted a temporary exemption from USA tariffs of 25 percent on steel and 10 percent on aluminum.

"We can't have a country, as the president said, without those industries [steel and aluminum] ..."

Treasury Secretary Steve Mnuchin told CNBC in a Friday interview that the president will consider national security, noting that Trump wants to be sure that North Atlantic Treaty Organisation gets more funding from European allies who Trump has previously criticized for not contributing enough.

Jetblue was among the firms that announced employee bonuses after elected leaders passed a tax-cut package they claimed would put money in everyday Americans' pockets and help spur even stronger growth in the economy.

That's according to reports Saturday that fingers Liddell as the likely next head of the National Economic Council, the policymaking advisory body that is now led by Gary Cohn.