Peter Navarro

We're in a beautiful position for the next 90 days. We've got over 75 countries that are going to come in and negotiate with us. And what they're going to have to do without fail is they're going to have to lower their non-tariff barriers because those are the bigger ones than the tariff barriers. And we're going to get a great deal for America and a great deal for the world.

Elon's a car manufacturer, but he's not a car manufacturer. He's a car assembler. If you go to his Texas plant, a good part of the engines that he gets, which in the EV case is the batteries come from Japan and come from China. The electronics come from Taiwan. And he wants the cheap foreign parts, and we understand that. But we want him home.

Elon's a car manufacturer, but he's not a car manufacturer. He's a car assembler. If you go to his Texas plant, a good part of the engines that he gets, which in the EV case is the batteries come from Japan and come from China. The electronics come from Taiwan. And he wants the cheap foreign parts, and we understand that. But we want him home.

the economist tools, because it's based on concepts like export and import demand elasticities, currency adjustments, and things like that. But here's the analytical issue we're trying to do under the principle that the president wants to charge those countries what they charge us. As you pointed out,

the economist tools, because it's based on concepts like export and import demand elasticities, currency adjustments, and things like that. But here's the analytical issue we're trying to do under the principle that the president wants to charge those countries what they charge us. As you pointed out,

Vietnam has a non-tariff, applied tariff rate that's much larger than ours, but doesn't come near the tariff we've charged them. So the question is, how do you value the following, Phil? So let me count the ways. You've got to value currency manipulation.

Vietnam has a non-tariff, applied tariff rate that's much larger than ours, but doesn't come near the tariff we've charged them. So the question is, how do you value the following, Phil? So let me count the ways. You've got to value currency manipulation.

You've got to value the VAT tax distortions, dumping, export subsidies, technical barriers to trade, agricultural barriers to trade, quotas, bans, counterfeiting, intellectual property theft, and all of that. So here's the punchline.

You've got to value the VAT tax distortions, dumping, export subsidies, technical barriers to trade, agricultural barriers to trade, quotas, bans, counterfeiting, intellectual property theft, and all of that. So here's the punchline.

If you look at the trade deficit, which every country runs from us, the first thing economists should tell you, ask the next one you have on your show, should the U.S. have chronic and sustained trade deficits? According to economic theory, they should not. So what the trade deficit does for any given country, it's the sum of all cheating. It's the sum of all unfair trade practices.

If you look at the trade deficit, which every country runs from us, the first thing economists should tell you, ask the next one you have on your show, should the U.S. have chronic and sustained trade deficits? According to economic theory, they should not. So what the trade deficit does for any given country, it's the sum of all cheating. It's the sum of all unfair trade practices.

And in a national emergency where the trade deficit itself is the national emergency and security threat because it takes our factories, our jobs, and transfers wealth abroad, the reciprocal tariff is that which...

And in a national emergency where the trade deficit itself is the national emergency and security threat because it takes our factories, our jobs, and transfers wealth abroad, the reciprocal tariff is that which...

I mean, look, Elon, look, Elon, when he's in his doge lane, is great. But we understand what's going on here. We just have to understand. Elon sells cars. And he's in Texas assembling cars. that have big parts of that car from Mexico, China. The batteries come from Japan or China. The electronics come from Taiwan. And he's simply protecting his own interests as any business person would do.

I mean, look, Elon, look, Elon, when he's in his doge lane, is great. But we understand what's going on here. We just have to understand. Elon sells cars. And he's in Texas assembling cars. that have big parts of that car from Mexico, China. The batteries come from Japan or China. The electronics come from Taiwan. And he's simply protecting his own interests as any business person would do.

I mean, look, Elon, look, Elon, when he's in his doge lane, is great. But we understand what's going on here. We just have to understand. Elon sells cars. And he's in Texas assembling cars. that have big parts of that car from Mexico, China. The batteries come from Japan or China. The electronics come from Taiwan. And he's simply protecting his own interests as any business person would do.

This is not a negotiation, Jesse. This is a national emergency associated with chronic and massive trade deficits that are brought about by higher tariffs and higher non-tariff barriers that take our jobs, that take our factories, that lead to massive trade deficits that result in massive transfers of wealth into foreign hands that jeopardize our manufacturing base and defense industrial base.

This is not a negotiation, Jesse. This is a national emergency associated with chronic and massive trade deficits that are brought about by higher tariffs and higher non-tariff barriers that take our jobs, that take our factories, that lead to massive trade deficits that result in massive transfers of wealth into foreign hands that jeopardize our manufacturing base and defense industrial base.

This is not a negotiation, Jesse. This is a national emergency associated with chronic and massive trade deficits that are brought about by higher tariffs and higher non-tariff barriers that take our jobs, that take our factories, that lead to massive trade deficits that result in massive transfers of wealth into foreign hands that jeopardize our manufacturing base and defense industrial base.

We're gonna provide tax benefits, tax credits to the people who buy American cars. This is a genius thing that President Trump promised on the campaign trail. So that's gonna happen. In addition, the other tariffs are gonna raise about $600 billion a year.