White House trade adviser Peter Navarro warned that China is in a “zero-sum game” with the rest of the world on trade. And he emphasized that “we have to defend ourselves,” as China is “attacking our crown jewels” with technology intellectual property theft.
But at the same time, he downplayed the impact of trade war with China. He said that “we got two economies that add up to around $30 trillion in annual GDP. The amount of trade we’re affecting with the tariffs is a rounding error compared to that.”
And, he added that “it’s much less disruptive than these headlines would suggest, and it’s much more constructive as we see the adjustments made in terms of where investment is going to go and where we’re going to build.”
So that means, Navarro admitted that Trump’s trade policy is disruptive.
