Trump’s Trade Council Chief Says Goal is a German Style Economy

The administration of President Donald Trump wants manufacturing jobs to make up about a fifth of the American workforce, said Peter Navarro, tapped by Trump to lead the newly created National Trade Council.

Navarro told CNBC’s “Squawk Box” on Wednesday that part of his job at the National Trade Council is matching the needs of industry with the skills of U.S. workers.

“We envision a more Germany-style economy, where 20 percent of our workforce is in manufacturing,” he said. “And we’re not talking about banging tin in the back room.”

“We’re talking about high technology across the board, whether it’s computer chips or cars or anything in between,” said Navarro, a Trump campaign policy advisor and formerly a business professor at the University of California, Irvine.

President Trump’s executive order this week to abandon the Trans-Pacific Partnership and his stated intent to renegotiate NAFTA are moves away from many-nation free trade agreements, said Navarro.

“Multilaterals, you get hundreds of people and thousands of lobbyists and lawyers. It takes years and years and years,” he contended.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza