Today Fox Business posted an article that included some comments White House trade adviser Peter Navarro made on “Sunday Morning Futures.”
The article reports:
“We lost over 70,000 factories, over 5 million manufacturing jobs, and it was because Joe Biden likes made in China,” Navarro said. “Donald Trump came along. … He said, ‘Hey, that’s not good. That’s not right. I’m going to fix that.’ And so what President Trump has been carefully doing is putting in place a wide range of policies, whether it’s lowering the corporate income tax to bring investment on-shore, steel and aluminum tariffs, or buy American.”
The U.S. lost 5 million manufacturing jobs between January 2000 and December 2014 because of “growing trade deficits in manufacturing products prior to the Great Recession and then the massive output collapse during the Great Recession,” according to a 2015 report from the Economic Policy Institute.
The article notes:
I don’t doubt that!
The article concludes:
“Economic security is national security. That’s one of the principles of the Trump Administration and what we learned from this China virus pandemic,” Navarro said. “If we bring those jobs back onshore as we have been doing, we will create great jobs at great wages but also protect the American people from the Chinese communist party.”
Navarro touted Trump’s stance on U.S. manufacturing, but the president has repeatedly taken criticism for manufacturing his branded products in other countries, including China.
The goal should be to make it cheaper and more practical to manufacture things in America. That goal can be achieved through lower corporate taxes, tariffs on foreign goods, and reliable and inexpensive energy. President Trump has worked in all three of these areas to bring manufacturing back to America. Because of Hunter Biden’s continuing investments in China, it is unlikely that Joe Biden would continue policies that would move jobs away from China.