FBN's Maria Bartiromo called out Peter Navarro, Trump's Trade Council Director for his crazed tariff policy with China that's crashed the markets and hurt the U.S. economy and he just shrugged and blamed the federal reserve instead.
Maria never followed up on her excellent opening question until the end of a segment. As Navarro started moronically gaslighting how wonderful his tariffs were, she abruptly cut him off to go to a commercial break.
Navarro, a hard-liner against China, joined Sunday Morning Futures with Maria Bartiromo to answer some questions about why the stock market is tanking.
Her opening salvo was right on target.
Maria said, "The DOW is down in negative territory, the S&P down in negative territory for 2018 on worries over trade tariffs, higher interest rates."
She continued, "We all know the tariffs were your idea and people are worried that these higher tariffs are cutting into company's ability to grow because input costs are going higher that's crushing profit margins and hurting the stock market. So what are you going to do about it?"
Asking "what are you going to do about it" normally would put any political advisor, whose policies have failed miserably, in the position to respond, but instead he just lied.
Navarro replied, "So, first of all, I think that's a false narrative in terms of the impact of the tariffs on the stock market. My view is that this is strictly an interest rate effect. I think the Fed went too far and too fast..."
Nobody believes this at all.
It's evident that Trump's economic team has a strategy when it comes to interviews. When asked a difficult question, just filibuster nonsense, refuse to answer directly and praise Trump effusively. Larry Kudlow practiced this on Fox News Sunday.
Navarro prattled on about how great things were in the stock market of 2016, but it's the end of 2018 and all the market gains were lost for no reason at all.
He claimed that the arrest of Huawei's chief financial officer had no bearing on the trade talks because they were independent of one another, but China was livid.
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China's Foreign Ministry summoned the U.S. and Canadian ambassadors over the weekend to protest the detention of the chief financial officer of tech giant Huawei Technologies.
Navarro then repeatedly praised "Donald J. Trump" as the greatest president of all time until finally, Bartiromo asked, "Yea, but everyone's worried about growth because of these tariffs."
Maria continued, "Is there any reason to believe the tariffs on steel and aluminum go away over the near term."
As much as she supports Trump, Maria knows these tariffs on steel and aluminum have hurt the country badly.
Again, he proclaimed this line of questioning was a false narrative.
he said, "The tariffs have been growth inducing, investment inducing, productivity-inducing and steel and aluminum..."
Maria cut in, "Wait a minute, wait, Peter, we gotta take a short break."
If these tariffs were so awe-inspiring to our economy, why is every economist bashing them, including Maria?