President Donald Trump’s tariffs on Chinese imports will curtail theft of U.S. technology, according to White House National Trade Council Director Peter Navarro.
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“Talk is not cheap with the Chinese, it’s actually been really expensive because while we’ve been talking with them since 2003, they’ve been robbing our technology blind,” Navarro told FOX Business’ Maria Bartiromo on “Mornings with Maria” on Thursday.
While the announcements on China have stoked fears of retaliation from Beijing and concerns over a global trade war, the long-term impact will be positive for American businesses, Navarro said.
“From a bottom line stock market perspective, long-term profits are going to be a lot better for American companies under this kind of policy,” he said.