Trump’s tough tariffs will rebuild US pharma, slash China dependence: Peter Navarro
White House Counselor for Trade and Manufacturing Peter Navarro told ‘Mornings with Maria’ that President Donald Trump’s tariffs will cut U.S. reliance on China, rebuild supply chains and protect national security through tough trade policy.
President Donald Trump is taking further aim at America’s reliance on foreign partners, which his senior counselor on trade claims is designed to shift supply chains domestically and end China’s grip on the U.S.
"I had a situation where a Chinese company gets approval for an antibiotic at the FDA, gives a bunch of money to an Indian company, and then the Indian company fronts to get a contract at the VA that pushes out an American maker. So those are the kinds of things we're having to deal with, and that's why the tariffs are so necessary," Trump senior counselor for trade and manufacturing Peter Navarro said on "Mornings with Maria" Friday.
"We cannot be caught with our antibiotics down and other pharmaceuticals, and be exposed to that kind of pressure," he continued. "That's just one in a string of examples where foreigners try to exert pressure on the United States. We won't tolerate that."
In a series of Truth Social posts on Thursday, Trump announced his newest round of tariffs set to take effect on Oct. 1. The tariffs will target pharmaceuticals, home goods and heavy trucks, and Trump said he believes the move will strengthen U.S. manufacturing and protect national security.
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In one post, he declared that branded and patented pharmaceutical products will face a 100% tariff unless the company is actively building a plant in the United States.
The new wave of Trump administration tariffs will end China's grip on the U.S., senior counselor Peter Navarro argued on "Mornings with Maria" Friday. (Getty Images)
Trump also announced plans to stop the "flooding" of imports that threaten American manufacturers by imposing a 50% tariff on kitchen cabinets, bathroom vanities and related products, a 30% tariff on upholstered furniture and a 25% tariff on heavy trucks built outside the U.S.
"The 50% tariff on imported home items like kitchen cabinets and bathroom vanities is certainly a big move, and it’s likely to create short-term disruptions in pricing and supply. However, for regions like South Florida, this could actually open up new opportunities," BH Group founder and CEO Isaac Toledano told Fox News Digital.
"We could see a boost in demand for domestic products, which might accelerate growth and job creation in the region. Consumers may feel some price pressure initially, but the shift could ultimately support more resilient, locally sourced supply chains," Toledano noted. "President Trump is a smart man, and has lots of real estate experience. He knows what he’s doing."
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"This is an important issue. One of the other big issues is the cross-subsidy kind of thing, where people in America have to pay more to Big Pharma for the same drug that people abroad pay less. The president is attacking this on every possible front," Navarro expanded.
"The beauty of everything we're doing… on the tariff angle is, it's designed explicitly to bring in domestic investment to build up our own capabilities and shore up gaps in our supply chain. So this is a very good thing for America," he added. "Remember, there's no tariffs if they're building here."
Navarro further explained how "the risk of offshoring far outweighs the rewards," and cautioned corporate America against what Gxstocks’ Maria Bartiromo called the Chinese "M.O. … rob, replicate, replace."
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"I know that furniture and kitchen cabinets are like highly craftsman-oriented industries that got completely gutted. And right now, China, with the cooperation of Vietnam, Indonesia, Malaysia, and Thailand are running a game on the entire world," the senior counselor said. "Heavy trucks are absolutely critical for national security because… if we don't have the capability to convert that heavy truck capacity to things we're gonna need to fight conflicts abroad, that's not a good thing."
"What the president is doing in an inflation-free environment… is fundamentally restructuring the international trade environment in a way which has brought $17 trillion of new investment here… This is why it's gonna be great for America."
Gxstocks’ Christina Shaw contributed to this report.
