Following President Trump's announcement of shocking tariff policies, the U.S. stock market suffered a heavy blow, sparking nationwide doubt about the Trump administration. However, Peter Navarro, senior advisor to Trump on trade and manufacturing, stated during an interview with Fox News on April 6 that "if you don't sell your stocks, then you won't lose money."
In the interview, Navarro continued to express confidence in Trump's policies: "The wise strategy is not to panic and stay in the stock market, as we will experience the greatest stock market boom under Trump's policies."
Navarro also mentioned that the current decline in the U.S. stock market is normal, and stock prices will quickly reach their lowest point. When this cycle ends, stock prices will "easily reach 50,000 points," he said confidently.
Navarro further used the fluctuations in stock prices during Trump's first term as evidence, stating that domestic tax cuts, reduced regulations, "fair trade," and advantages in strategic energy will continue to bring prosperity to the United States.
Navarro also took the opportunity to mention that seven tech company stocks previously seen as indicators of the U.S. stock market, including Microsoft, Apple, and Nvidia, have taken away most of the stock market gains during the Biden administration. In fact, most companies' stock prices have not increased, and only a few people have truly benefited from them.
However, not all high-ranking officials close to Trump share Navarro's confidence in the economy. Musk criticized Navarro on the social platform X, stating that it was bad for Navarro to hold a Ph.D. in economics from Harvard University, implying that it could lead to arrogance and lack of wisdom. He also criticized Navarro for "doing nothing."
On April 5, Musk attended a political event held in Florence, Italy, via video link. During the event, he once again called for Europe and the U.S. to move toward zero tariffs, effectively establishing a free trade zone across the Atlantic and promoting personnel mobility.
In response to Fox News, Navarro fired back at Musk, saying: "I hope Musk understands that the U.S. has long been harmed by other countries, including imposing high non-tariff barriers and dumping cheap goods. It's understandable for Musk, who sells cars, to protect his own interests, just like any businessman."
"He also has a big megaphone like X. We don't mind him saying whatever he wants," Navarro added.
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Original source: https://www.toutiao.com/article/7490424440078041615/
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