Business economists disagree on trade
March 7, 2017
White House trade adviser Peter Navarro said on March 6 that the Trump administration will attempt to retain or regain control of manufacturing and food supply chains, Washington Trade Daily reported.
"Foreigners will eventually own so much of America that there will be nothing left to trade," Navarro, director of the National Trade Council, told the National Association of Business Economics at its annual conference, according to WTD.
Unless the trade deficit is addressed, "Foreigners will eventually own so much of America that there will be nothing left to trade," Navarro said. "One of the goals of the Trump administration is to reclaim all of the supply chain and manufacturing capability that would otherwise exist if the playing field were level."
Trump wants "free, fair and reciprocal trade," he said, but "America's trade with the world is anything but reciprocal."
Navarro said Trump should discuss trade relations with German Chancellor Angela Merkel outside the context of the European Union when she visits Washington.
Meanwhile, NABE released a survey of its 285 member that showed they disagree with Trump on the debt, the North American Free Trade Agreement and immigration, and are sympathetic to the health care reforms under the Affordable Care Act known as Obamacare.