Tariffs planned by President-Elect Donald Trump next year will not spike inflation, incoming trade advisor Peter Navarro says.
“We put on significant tariffs on China — steel, aluminum, dishwashers, solar, a lot of increased countervailing duties to stop the dumping. We had zero inflation from any of that,” Navarro told CNBC on Tuesday.
“So I would say that just go back and play all the interviews that were done on CNBC of people back in the first term with their hair on fire, worrying about inflation,” Navarro continued. “It never happened, and it’s the same movie this time.”
Indeed, as Breitbart News has chronicled, research has continuously shown that tariffs on foreign imports under Trump are unrelated to inflation that reached record highs under President Joe Biden following the passage of the Inflation Reduction Act.
The Economic Policy Institute (EPI), in extensive analysis, for instance, has noted that there is no link between U.S. tariffs and inflation. […]
— Read More: www.breitbart.com
