On CNBC's “Money Movers” aired on Tuesday, White House senior counselor Peter Navarro, a trade and manufacturing senior counselor at the White House, answered questions about how tariff revenues will reduce the deficit and replace personal income taxes. Invests in the US, and losses in tariff revenues are compensated by US economic activity
asked co-host Carl Quintanira. At the same time, I have heard that tariff revenue will lower the deficit and will serve as a substitute for personal income tax. ”
Navarro replied. Apple has sent all its products to Xinjiang for years and resisted all sorts of effort to do something here, then invested here $500 billion. Therefore, tariff revenue that can be shipped here and lost from an iPhone with tariffs is derived from the prosperity of employment and economic activity. So, again, this is a different way of thinking. ”
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