Peter Navarro, a top trade advisor to President-elect Donald Trump, asserts that the president's planned tariffs and tax cuts will not negatively impact inflation or federal deficits.
Peter Navarro, top trade advisor to President-elect Donald Trump, argued that Trump's planned tariffs and tax cuts will not boost inflation or federal deficits. Navarro in a CNBC interview claimed that inflation during the Biden administration was caused by 'fiscal irresponsibility.' Trump has proposed numerous tax cuts , including further lowering the corporate tax rate, as well as eliminating taxes on tips for service workers and on Social Security benefits for seniors.
'We put on significant tariffs on China, steel, aluminum, dishwashers, solar, a lot of increased countervailing duties to stop the dumping,' Navarro said on CNBC. 'So I would say that just go back and play all the interviews that were done on CNBC of people back in the first term with their hair on fire, worrying about inflation,' said Navarro. Navarro, whom Trump picked earlier in December to be his senior counselor for trade and manufacturing, argued that the inflation that hung over Biden's term was caused by 'fiscal irresponsibility.' During his recent campaign, Trump said he wanted to enact much larger and broader tariffs, plus additional targeted duties on imports from China.Trump also has suggested a laundry list of proposed tax cuts, including further lowering the corporate tax rate, as well as eliminating taxes on tips for service workers and on Social Security benefits for seniors. He has also vowed to extend tax cuts implemented during his first term, some of which are set to expire at the end of 2025
ECONOMY TARIFFS TAX CUTS INFLATION FEDERAL DEFCITS
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump trade counselor Peter Navarro says planned tariffs won't spur inflationPresident-elect Donald Trump has vowed to enact across-the-board tariffs, targeted import duties on China, Canada and Mexico, and tax cuts.
Read more »
Navarro Says Trump Tariffs, Tax Cuts Won't Boost InflationPeter Navarro, a top trade advisor to President-elect Donald Trump, claims Trump's planned tariffs and tax cuts will not worsen inflation or federal deficits. Navarro attributes the inflation experienced during Biden's presidency to 'fiscal irresponsibility.'
Read more »
Peter Navarro Says Trump Tariffs and Tax Cuts Won't Cause InflationNavarro, a trade advisor to President-elect Trump, claims that tariffs and tax cuts will not lead to inflation or increased federal deficits. He attributes the current inflation to 'fiscal irresponsibility' under the Biden administration.
Read more »
Navarro: Trump's Tariffs and Tax Cuts Won't Cause Inflation or DeficitPeter Navarro, a top trade advisor to President-elect Donald Trump, argues that Trump's planned tariffs and tax cuts will not lead to inflation or increased federal deficits.
Read more »
Trump vows 25% tariffs on Mexico and Canada, additional 10% tariffs on Chinese goodsIn a post on Truth Social early Tuesday, US President-elect Donald Trump said that he would announce a 25% tariff on all products from Mexico and Canada from his first day in office and an additional 10% tariff on goods from China.
Read more »
Mexico suggests it would impose its own tariffs to retaliate against any Trump tariffsMexican President Claudia Sheinbaum has suggested Mexico could retaliate with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% tariffs on Mexican goods if the country doesn’t stop the flow of drugs and migrants across the border.
Read more »