US EditionTrump trade advisor Navarro brushes off GDP drop: ‘We really like where we’re at now’
- Senior trade official Peter Navarro downplayed worries following a 0.3% decline in U.S. GDP during the opening quarter of 2025, emphasizing a notable rise in domestic investment despite the overall economic shrinkage.
- This economic contraction followed the Trump administration’s imposition of broad new tariffs on most imports earlier in April, which triggered market instability and investor caution.
- Navarro defended the tariff strategy on CNBC by highlighting a substantial rise in domestic investment and an underlying growth rate of 3%, indicating that the policies were producing positive economic effects.
- Major stock market indices fell sharply after the GDP report, with the Dow Jones dropping over 1,000 points and the S&P 500 losing 3.46%, reflecting investor reaction to the surprisingly negative data.
- Navarro’s stance suggests continued commitment to the tariff regime as a tool to protect American industries, implying a focus on long-term shifts in domestic production despite short-term economic setbacks.
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The remarkable durability of Peter Navarro, the Trump trade adviser Wall Street loves to hate
As Wall Street executives and traders white knuckle their way through the most acutely volatile market period since the pandemic, desperate to avoid the economic blast radius of President Donald Trump’s sweeping new trade war, Peter Navarro’s name is never far from the topic of conversation.
Trump Adviser Says Latest Bad Economic Data Is Actually Good ‘When You Strip Out’ Negative Effects of Tariffs: ‘It’s Working Beautifully’
White House trade adviser Peter Navarro spun some putrid economic data on Wednesday by saying the numbers would actually be better if President Donald Trump's tariffs were discounted.
Trump trade adviser Navarro brushes off GDP drop: ‘We really like where we’re at now’
White House trade advisor Peter Navarro brushed off concerns Wednesday about the unexpected drop in U.S. gross domestic product last quarter, saying, ’We really like where we’re at now,” and pointing to a surge in new domestic investment.
Top Trump Advisor Mocked for Celebrating 'Shriveling GDP' by 'Stripping Out' Negative Effects of Tariffs
Trump counselor Peter Navarro is being mocked online after commenting on the United States' withering GDP, stating that the number is actually growing if you discount the impact of the Trump administration's tariff implementation.
The New York Stock Exchange was on a steep downward trend on Wednesday, marked by the unexpected decline in U.S. GDP and the slowdown in employment in the U.S. private sector in the mid-season of business performance.
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