Select Language

WH Trade Adviser Navarro: Any talk of recession seems silly given expected tax cuts

Breaking news

WH Trade Adviser Navarro: Any talk of recession seems silly given expected tax cuts

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.04.07 22:14
WH Trade Adviser Navarro: Any talk of recession seems silly given expected tax cuts

update 2025.04.07 22:14

White House Trade Adviser Peter Navarro told CNBC on Monday that countries seeking a tariff relief need to lower non-tariff barriers, per Reuters.

Key takeaways

"Any talk of recession seems silly given expected tax cuts."

"When you ask whether US President Donald Trump is willing to negotiate, the president is always willing to listen."

"Methodology for tariff calculations was sound."

"We want fairness from trading partners."

"Tariffs will pay for the biggest tax cut in the American history."

"The market will find a bottom."

"We want auto parts made in the US."

"EU needs to drop non-tariff barriers, including value-added tax."

Market reaction

The US Dollar Index stays in daily range following these comments and was last seen trading virtually unchanged 102.92.

US-China Trade War FAQs

Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.

An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China's economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.

The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.


Date

Created

 : 2025.04.07

Update

Last updated

 : 2025.04.07

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

EUR/USD flat lines below 1.1400 mark ahead of Eurozone/US macro data

The EUR/USD pair recovers a few pips from the vicinity of the mix-1.1300s, or the Asian session low, though it lacks any follow-through amid a modest US Dollar (USD) uptick. Spot prices currently trade around the 1.1375 area and remain confined in a familiar range held over the past week or so.
New
update2025.04.30 14:31

GBP/USD breaks below 1.3400 due to stronger US Dollar, BoE rate cut expectations

GBP/USD extends its decline for a second straight session, hovering near 1.3390 during Wednesday's Asian trading. The pair is under pressure as the US Dollar strengthens on renewed optimism surrounding US-China trade developments.
New
update2025.04.30 14:31

USD/CHF softens to near 0.6400 amid tariff uncertainty

The USD/CHF pair posts modest losses around 0.6410 during the early European session on Wednesday. The uncertainty surrounding trade policy continues to boost the safe-haven flows, supporting the Swiss Franc (CHF). The Swiss KOF Leading Indicator for April is due later on Wednesday. 
New
update2025.04.30 14:30

FX option expiries for Apr 30 NY cut

FX option expiries for Apr 30 NY cut at 10:00 Eastern Time via DTCC can be found below.
New
update2025.04.30 14:13

India Gold price today: Gold falls, according to FXStreet data

Gold prices fell in India on Wednesday, according to data compiled by FXStreet.
New
update2025.04.30 13:36

AUD/JPY rises above 91.30 following key economic data from Australia, Japan

AUD/JPY edges higher after registering gains in the previous two sessions, trading around 91.30 during the Asian hours on Wednesday.
New
update2025.04.30 13:27

Silver Price Forecast: XAG/USD slides below $33.00; 200-period EMA on H4 holds the key for bulls

Silver (XAG/USD) struggles to capitalize on a modest Asian session uptick and slides back below the $33.00 mark, hitting a fresh daily low in the last hour.
New
update2025.04.30 13:20

WTI falls to near $59.50 due to weakening global economic growth, Oil demand

West Texas Intermediate (WTI) Oil price continues its decline for a third consecutive session, trading near $59.50 per barrel during Asian hours on Wednesday.
New
update2025.04.30 12:57

Gold price slides back closer to $3,300 amid positive risk tone, modest USD uptick

Gold price (XAU/USD) trades with a negative bias for the second consecutive day, though it lacks bearish conviction and holds above the $3,300 mark during the Asian session on Wednesday.
New
update2025.04.30 12:54

USD/INR strengthens as India and Pakistan tension escalates

The Indian Rupee (INR) weakens on Wednesday, pressured by rising geopolitical tensions between India and Pakistan. Many tourist sites in Kashmir have been closed since Tuesday, as traders react to unverified reports of military activity.
New
update2025.04.30 12:20

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel