President Trump announced a tentative trade deal with Mexico on Monday.
“We’re going to restore this country and North America as a manufacturing powerhouse,” White House trade adviser Peter Navarro told FOX Business’ Lou Dobbs. “There are a lot of bells and whistles in this agreement, but what drives the engine here is the rules of origin and really tough labor provisions.”
Navarro believes the deal will bring back auto parts and the auto industry from the rest of the world, which he says has been stealing it from both Mexico and the United States.
“This is a rebalance that works for both countries that is the beauty of this deal and Detroit should be very happy tonight along with the rest of the country,” he added.
Navarro says a key part is protecting intellectual property.
“The agricultural provision means were are going to export more agricultural products,” said Navarro. “We are going to have more protection. It has the best intellectual property protection we have seen in a free trade agreement and when people steal our stuff, that helps drive the deficit as well.”
Navarro says at the root of the agreement is solidifying the manufacturing base and supply chain.
He believes the deal will appeal to congressional lawmakers on both sides of the aisle.