Economics
Trump Economic Advisers Denounce Trade Deals in Theory, Practice
- Navarro says pacts work only if all parties play by the rules
- DiMicco harkens back to Reagan tariffs to forestall China
Dan DiMicco, chairman and president of Nucor Corp., laughs during a panel discussion at the Charlotte Chamber of Commerce's Economic Outlook Conference in Charlotte, North Carolina, on Dec. 6, 2010.
Photographer: Jeffrey Camarati/BloombergThis article is for subscribers only.
One of Donald Trump’s economic advisers will point out the shortcomings of U.S. trade policy by citing less-popular passages of classical theory. Another has witnessed the deficiencies firsthand in the steel industry.
Peter Navarro, a trained economist with a doctorate from Harvard, says Trump’s critics ignore the caveats in David Ricardo’s early-19th century work on the benefits of free trade. As former chief executive officer of steelmaker Nucor Corp., Dan DiMicco wants Trump to slap tariffs on Chinese goods.