US Trade Advisor Says Investors Should Believe Media on US-China

White House trade advisor Peter Navarro said media reports on the U.S.-China trade talks are not reliable, even calling stories in the Wall Street Journal “garbage.”

“My advice for investors is to be patient with the process and don’t believe anything you read in either the Chinese or the U.S. press about these negotiations unless it comes from the mouth of either the president or advisor Lighthizer,” Navarro said on CNBC’s “Squawk Box” on Friday.



“There’s just going to be a lot of garbage coming out of the Wall Street Journal and the People’s Daily and everything in between,” Navarro said. “I’ve seen this movie before… There were all sorts of stories written and they were designed to shape the negotiations and they didn’t have any insight into them,” Navarro said.

Navarro didn’t discuss any specific stories or present any evidence to back up his point. The Wall Street Journal reported on Monday that certain issues were weighing on new trade talks, including China not stepping up purchases of American agricultural products. Trump himself later confirmed that lack of the purchases were a hang up.

“We stand by our reporting,” Colleen Schwartz, a spokeswoman at The Wall Street Journal told CNBC in response to Navarro’s comment.

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