Tags: 2020 Elections | Donald Trump | peter navarro | trump | economy | gdp

Peter Navarro: Economic Growth 'Did Not Happen by Accident'

peter navarro talks in white house driveway
Director of Trade and Manufacturing Policy Peter Navarro (Alex Wong/Getty Images)

By    |   Friday, 30 October 2020 02:27 PM

The economic growth reported this week, including the 33.1% GDP record numbers, did not happen by accident, but was driven by President Donald Trump's policies, White House Trade Adviser Peter Navarro said Friday. 

"I think when he said that the economy is open for business, that was a key part of it," Navarro told Fox Business' Maria Bartiromo. "The number could've been better if not for some of the bigger states that have been knocking down too much."

Accoring to Navarro, the pillars for economic success, including tax cuts and defense spending, are in play under Trump and are in "sharp contrast" to what the economy would be under Democrat nominee Joe Biden, should he win next week's election. 

"You've got tax cuts (that) in Maine lifted real median household income by 25%," said Navarro. "With deregulation, the president is going to Minnesota today and the eastern part of the state there is a Duluth complex where they want to turn not just the iron range into prosperity but a copper nickel range. That is booming and that would get shut down."

Defense spending has also helped during the coronavirus pandemic, said Navarro, because under Trump the plants have stayed open, including in Wisconsin.

"You have the Oshkosh plant making combat vehicles, go up north outside the Green Bay area, that shipyard is absolutely booming," he said. "You go to Michigan, to Sterling Heights, into the General Dynamics plant making the Stryker vehicle, those kinds of things are going on, and of course, fracking. The president is going to Michigan today. In the lower peninsula, there are 8,000 fracking wells that generate $13 billion worth of activity, hundreds of thousands of jobs."

There is a real choice of policy, and Trump is "not kidding" when he says Biden will bring an economic depression to the country if he's elected, Navarro added. 

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Politics
The economic growth reported this week, including the 33.1% GDP record numbers, did not happen by accident, but was driven by President Donald Trump's policies, White House Trade Adviser Peter Navarro...
peter navarro, trump, economy, gdp
312
2020-27-30
Friday, 30 October 2020 02:27 PM
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