Team,
Enjoy this hit on Fox News Sunday. I handicap the odds Trump tariffs will be upheld, deconstruct India’s Russia oil gambit, analyze Lisa Cook’s odds of a prison cell, and talk about the new book I Went To Prison So You Won’t Have To. CLICK HERE to view the book on Amazon — order it today!
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Sunday Morning Futures (FNC) – Senior Trade Counselor Peter Navarro Interview
JACKIE DEANGELIS: Joining me now on this Sunday morning Futures exclusive is White House Senior Counselor for Trade and Manufacturing, Peter Navarro. Peter, it's always great to see you. Good morning and thank you for being here. Let's pick apart this ruling a little bit that came out late on Friday from the Federal Appeals Court in dc basically saying that most of Trump's tariffs are illegal. The reciprocal tariffs, it was a seven to four decision. Six in the majority were appointed by Democrat presidents, and the dissent obviously made its case, which would be that there is a national emergency to take care of here. President Trump took to truth social. He said that the decision was highly partisan. He said if these tariffs ever went away, it would be a total disaster for the country. Walk us through the argument that's going to be made all the way up to the Supreme Court.
SENIOR TRADE COUNSELOR PETER NAVARRO: Sure. And the bosses is always right. You're absolutely right, Jackie. This was weaponized partisan injustice at its worst, politicians in black robes, you had six out of the seven judges Democrats, but you also had 12 blue states intervening against Trump. Most curiously, the five importers. Very small companies trying to preserve the right to import cheap Chinese crap. Mostly if you follow the money that road leads to the least, partly to the Koch network, the infamous anti-Trump Koch network. So it was a bad decision, but the good news is the dissent was very, very strong. I think it provides a very clear roadmap to how the Supreme Court can certainly rule in our favor, dealt with three major issues and some minor ones. I got a piece coming out in Washington Times you can get the details on. But the questions are like, is there a national emergency? Of course, people are dying of fentanyl and the trade deficit is absolutely devastating to this country. The tariffs, this is like a semantic issue. Are tariffs qualifying as the regulation of imports? Of course they are. There's plenty of law on that. One of the red hearings they threw out for the majority was that somehow because they argued the tariffs were permanent, Hey, memo to the court, we never said they were permanent. You can't find Lutnick, Bessent, Greer, myself or the president saying that if China and the drug cartels from Mexico and Canada stop killing Americas tomorrow, tariffs go away. A ditto if the trade deficit went to zero. So the bottom line, Jackie, a very good descent, provides a roadmap for the Supreme Court. We feel very optimistic if we lose the case, president Trump is right. It will be the end of the United States.
DEANGELIS: And this is a multilayered story, Peter, as you and I both know. So as we're talking about this decision playing out and the arguments that will be made, we're also looking at negotiations with India. That 50% tariff now being imposed on that country because it supports Russia essentially by buying that oil on the black market for cheap. But India is not the only offender. China is as well. Is the implementation of extra tariffs on India enough to choke Vladimir Putin?
SENIOR COUNSELOR NAVARRO: Well, let's be clear. We have 50% tariffs now on India, but we also have a little over 50% tariffs on China. So there's a question is how much higher do you want to go without actually hurting ourselves? But let's talk about the India issue because the only thing you have to know is that before Putin invaded Ukraine in February of 2022, India didn't buy Russian oil to speak of very, very small amounts. What happened? Well, the Russian refiners went in and got into bed with big oil in India. Putin gives Modi a discount on the crew. They refine it and they ship it to Europe, Africa, and Asia at a big premium, and they make a ton of money. Now, what's wrong with that picture? Well, it fuels the Russian war machine. India's nothing but a laundromat for the Kremlin. It kills Ukrainians. And what do we have to do as taxpayers? We got to send them more money so Ukraine can defend themselves. And on top of that, by the way, the 25% of the 50% is because India is the maharaji of tariffs. They have the highest tariffs in the world. So they export us a bunch of stuff. They won't let us sell to them. So who gets hurt? Workers in America, taxpayers in America, Ukrainians in cities getting killed by Russian drones. So look, Modi's a great leader. I don't understand why he's getting to bed with Putin and Xi Jin Penguin. He's the biggest democracy in the world. So I would just simply say to the Indian people, please understand what's going on here. You got Brahman's profiteering at the expense of the Indian people. We need that to stop.
DEANGELIS: Yeah, and we'll be watching that closely real quick on China, November 10th deadline for trade negotiations. Do you think that's realistic?
SENIOR COUNSELOR NAVARRO: Yes. Look, as Scotty Besson said, it's an ongoing negotiation, but let's remember this, we got over 50% tariffs on communist China, and that's a good thing.
DEANGELIS: Okay. You also wrote an opinion piece in the Federalist, and you were talking about the Federal Reserve. It's entitled Trump was right to fire fed Governor Lisa Cook. And here's why I love this quote at the end where you sum it up, you say, Cook's firing is about the paperwork. Two mortgages, two states, two weeks apart, both allegedly marked as a primary residence on the face of such alleged malfeasance cause exists. And that is enough for a president to act while the courts resolve the rest. The lesson is simple in public service, integrity is judged in real time, not deferred until a jury renders a verdict, Peter.
SENIOR COUNSELOR NAVARRO: Yeah, that's exactly right. And with respect to the president's ability to fire, of course he does two words. Mark Calabria, buddy of mine, he was at an independent agency. Biden comes in, he was appointed by Trump. Biden comes in fired. They didn't even give cause for that. Here we've got a case of what appears to be parent malfeasance. This is not a slap on the wrist thing, Jackie. I went to prison. Democrats put me in prison for defending the Constitution, and I was there. There's a couple of guys there who had similar kind of bank loan fraud. They were there for years. They had their assets forfeited and they had burdensome restitution. What I think Lisa Cook needs to do is get up and explain to the American people what she did. Is there a reason that's legitimate for what it seems like the worst kind of loan fraud.
DEANGELIS: The American people would love to hear it if she would stand up and explain that to us. And Peter, we'll just end on this. You mentioned how you went to prison, the weaponization of government. You've got a book on the subject coming out. Tell us a little bit.
SENIOR COUNSELOR NAVARRO: Sure. It's called I Went to Prison, so you won't have to, it's a tagline for my speech at the Republican National Convention on behalf of Donald Trump. It's a book about my experiences in prison. If you want to know what that's like, read it. But it's also a love story about my sweet pixie, my fiancé, and how she did the time with me. And it's also a nice mystery story because I went in there and solved a 5 billion mystery. I'm actually getting 5 billion back for taxpayers because of the investigative reporting I did inside. So I went to prison. So you won't have to, it's on Amazon. A book comes out just in the next couple of days. And I had love to have the Fox community read this book and let me know what you think.
DEANGELIS: Incredible. We will be looking for it. Peter, so great to see you. Thank you for being here.
SENIOR COUNSELOR NAVARRO: Thanks again. Jackie. Have a great Labor Day.
DEANGELIS: You too. White House senior counselor for Trade and Manufacturing. Peter Navarro. Thank you so much.
