Peter Navarro: Just Like First Term, Trump’s Tariffs Will Not Spike Inflation

Tariffs planned by President-Elect Donald Trump next year will not spike inflation, incoming trade advisor Peter Navarro says.

“We put on significant tariffs on China — steel, aluminum, dishwashers, solar, a lot of increased countervailing duties to stop the dumping. We had zero inflation from any of that,” Navarro told CNBC on Tuesday.

“So I would say that just go back and play all the interviews that were done on CNBC of people back in the first term with their hair on fire, worrying about inflation,” Navarro continued. “It never happened, and it’s the same movie this time.”

Indeed, as Breitbart News has chronicled, research has continuously shown that tariffs on foreign imports under Trump are unrelated to inflation that reached record highs under President Joe Biden following the passage of the Inflation Reduction Act.

The Economic Policy Institute (EPI), in extensive analysis, for instance, has noted that there is no link between U.S. tariffs and inflation.

“The timing of the tariffs clearly shows no correlation with inflation, and eliminating tariffs could not plausibly restrain it,” EPI researchers write. “The bulk of the tariffs were in place before 2020, yet, inflation only began accelerating in March 2021. Clearly, inflation was driven by many sources besides tariffs.”

Likewise, most recently, Breitbart News economics editor John Carney revealed that business surveys taken after Trump’s victory last month show that executives do not expect more tariffs to increase costs.

In 2022, the United Steelworkers (USW), similarly, wrote to Republican and Democrat lawmakers pushing back against unfounded claims that tariffs cause inflation.

“Some have called for lifting Section 301 tariffs against China claiming they contribute to inflation,” the USW wrote at the time. “Yet many of these tariffs have been in place for years, which means they are clearly not contributing to current inflation spikes.”

John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.