On Wednesday, Trump announced he is forming a new White House National Trade Council that has one goal: “To make American manufacturing great again.”
It’s a tall order. The U.S. has lost 5 million manufacturing jobs since 2000.
But Trump campaigned as a businessman who knows how to make global deals. Already, his tweets have pressured companies like Boeing and Lockheed Martin to respond.
Trump is tapping economist Peter Navarro to head up the new trade council. Like Trump, Navarro does not think the Chinese play fairly on trade.
“It’s not trade that’s the problem, it’s the bad trade deals,” Navarro said on the campaign trail.
Navarro is the author of ” Crouching Tiger: What China’s Militarism Means for the World” and produced a documentary titled “Death by China: How America Lost his Manufacturing Base.”
Navarro and billionaire Wilbur Ross (now Trump’s Commerce Secretary nominee) worked together on many of the economic policy details for Trump’s campaign. In September, they argued Trumponomics would:
1. Cut government regulations by 10% (details weren’t given on which regulations)
2. Eliminate America’s $500 billion trade deficit (by renegotiating deals)
3. Expand U.S. energy production (by allowing more drilling and more coal burning)
Trump will be able to balance the budget after fixing trade, regulations and energy policy, Navarro and Ross said. But many experts think that is will be tough.
“Those who suggest that Trump trade policies will ignite a trade war ignore the fact that we are already engaged in a trade war,” Navarro wrote in September.
Navarro has a PhD in economics from Harvard and is currently a business professor at University of California-Irvine.
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