Trump economist Peter Navarro was on Lou Dobbs Tonight last night and he explained how the US is doing fine in its’ trade negotiations with China. The GDP is up, unemployment is at record lows and the US has not been negatively impacted in spite of a bogus chart prepared by Goldman Sachs that attempts to portray the opposite.
Lou Dobbs last night showed a chart prepared by Goldman Sachs that attempted to show that the tariffs that the US imposed on China’s goods were causing inflation.
The Goldman Sachs chart is bogus. What Goldman does not show is the significance of the lines in the charts. Costs of goods are down across the board and inflation is the same or lower than last year – since the tariffs were added to China’s goods. The fact is the goods imported by China are an immaterial amount as noted below from our post in May.
Navarro said this about Goldman –
They [Goldman] make a lot of money offshoring our jobs Lou. But people in Ohio, Michigan, Pennsylvania, and Wisconsin, they don’t much care for Goldman Sachs. They don’t salute the Goldman Sachs flag I can assure you. They salute the American flag and they support Donald J. Trump!”
We reported in May that President Trump is right. The time is right. It’s time for China to be held to fair trade standards and accountable for the theft of intellectual property.
FOX News Channel’s The Next Revolution, host Steve Hilton gave an excellent argument for President Trump’s actions to raise tariffs on China at that time. Hilton shared:
We can easily afford to fight China. To hear some people talk about it you would think we’re totally dependent on China. That is absolute rubbish. Our economy is huge and thanks to President Trump’s pro-enterprise agenda its growing fast. Imports from China are just 2.7% of its total. Exports to China a naught point nine (0.9) percent. Over 96% of our economy is not trade with China. We could totally disengage with China and we’d be absolutely fine.
From last night's #SteveSays:
"The snooty establishment call Trump the ignoramus. He was right about China. The entire establishment got it wrong. Now as president, Donald Trump is delivering exactly the tough stance he called for as a private citizen two decades ago…" pic.twitter.com/H5Q2F43CMg
— The Next Revolution (@NextRevFNC) May 13, 2019