The Will Cain Show (FNC)

The Will Cain Show (FNC) – Senior Counselor for Trade and Manufacturing Peter Navarro Interview

WILL CAIN: senior white house advisor, peter navarro, great to see you. been a while. you guys have made a fool of economists, predictions of the way this would go. i am humble, i hope you are humble, we never know how economies will turn out, williams of decisions made by people every day but it is looking good.

SENIOR COUNSELOR PETER NAVARRO: the idea of this as it is exactly the scenario we had in the first term, we had the panicans in the first charm reacting to the tax cuts, the tariffs, all we were doing they said they would cause inflation, et cetera, all we had was strong growth with zero inflation. we are repeating the same scenario, three reports now this week, consumer prices, producer prices and today retail sales. every time we are doing better than wall street and said we will do in terms of expectations, retail sales were higher than expected it, indicating a stronger economy. producer price index yesterday lower than expectations. for five months we have been consistently beating expectations on inflation, we have been below consistently. you love where we are adds, economic advisors came out with a report last week that shows that import prices have actually been falling. what we know is when we put tariffs on foreign countries, particularly the ones that depend on us the most, they have to eat the tariffs. tariffs are not tax hikes, they are tax cuts. we had a hundred billion dollars so far raised in six months, we will have trillions over the ten years, that will pay for the big, beautiful bill tax cuts and debt reduction. we like where we are at.

CAIN: wall street is in the business of being right. do not get me wrong, that does not mean they are never wrong. we can look back to 2008 and many recessions, it is an emotional industry as much as it is marketed as an intellectual industry. it is emotional because human beings are emotional. looking back, president trump he was meeting with wall street economists, prognosticators back in 2024, this is what he said...

(CLIP) REPORTER: it will be massive.

(CLIP) POTUS: i agreed we'll have a massive effect, positive effect. let me just -- and how committees are elected, must have been hard to spend 25 years talking about tariffs like a negative and have somebody explain to you that you are totally wrong.

CAIN: peter, why though? why are economists and wall street wrong? when i say wrong i want to be clear to the viewer, hope you would be as well, i say this with humility because we will see how things play out. in the short-term everybody term everybody looks wrong about you guys at the white house.

COUNSELOR NAVARRO: historically, we are not have an income tax until 1913. hamilton, lincoln, jefferson, mckinley, they were all tariff advocates. the beauty of tariffs is they bring manufacturing here, we project our industries, jobs, wages, prosperity and revenue. that is the mckinley formula, the alexander hamilton formula and the donald trump formula. it works. the reason why cherubs do not cause negative impacts like inflation is because my tariffs -- because the countries depend so heavily on as. europa, china, go around the world, they just feast off of us with unfair trade practices. when we say you cannot come in unless he paid a tariff, they have to eat to the tariff. histories on our side, it is the same panicans you see on tv, same think tanks and politicians are the ones outside of the same things. same thing! in the first term they were dead wrong and they are wrong this time.

CAIN: prognostication is about a business weather in sports or economy, it is a bad track record. peter navarro, always a fun conversation. thank you.

COUNSELOR NAVARRO: love talking to you will, take care of yourself.