President Joe Biden should not lift tariffs on China, former Trump administration trade adviser Peter Navarro decried on Newsmax, calling it "insane."
Circulating reports on July Fourth indicate that the president is planning this week to lift tariffs on China imposed by the Trump administration in an effort to reduce inflation in the United States. But according to The Wall Street Journal, "economists say removing Chinese tariffs isn't likely to have a dramatic impact on inflation, however," there is a chance it could lower inflation anywhere from .26% to 1%.
Speaking with "Eric Bolling The Balance," Navarro says, "we worked really hard to put those tariffs on China cause they screw us. They screw American workers. They screw American businesses."
"And by the way," he adds, "when Donald Trump put those tariffs on, it didn't cause an iota of inflation. We had the most stable economy ... of any in the last 50 years."
Navarro continued, if Biden removes the tariffs, it will bolster China's economy, which could incentivize the nation in the East to reinforce its military. This comes at a time of significant posturing from China toward Taiwan. Navarro also mentions how China has helped Russia evade sanctions. And this comes at the same time after a majority of Western countries, including the United States, have levied sanctions against Moscow for Russia's invasion of Ukraine.
"This is insane," Navarro concluded.
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