NYSE - LSE
Trump taps Peter Navarro as trade, manufacturing counselor
US President-elect Donald Trump announced Wednesday that his former White House trade advisor Peter Navarro -- who went to prison for contempt of Congress -- would return as senior counselor for trade and manufacturing.
"During my First Term, few were more effective or tenacious than Peter in enforcing my two sacred rules, Buy American, Hire American," Trump said in a social media post.
Navarro, a Harvard-educated economist, served a four-month prison term for defying a congressional subpoena to testify about the January 6, 2021, storming of the Capitol by Trump's supporters.
He was released in July.
In unveiling Navarro's return on Wednesday, Trump charged that he was "treated horribly by the Deep State" -- a reference to an alleged conspiracy by government bureaucrats to sabotage Trump.
The president-elect added that Navarro's "mission will be to help successfully advance and communicate the Trump Manufacturing, Tariff, and Trade Agendas."
Tariffs are set to feature prominently on Trump's economic agenda moving forward, a stance that could strain ties with US trading partners.
On the campaign trail, Trump vowed sweeping duties of at least 10 percent on allies and adversaries alike.
He has also taken aim at neighbors Canada and Mexico, threatening them with tariffs unless they did more to stop the flow of illegal fentanyl and immigration into the United States.
Navarro's appointment comes after Trump selected top members of his economic team in recent weeks.
Billionaire hedge fund manager Scott Bessent was tapped to helm the Treasury Department while Wall Street veteran Howard Lutnick has been named to lead the Commerce Department.
Lutnick is also set to lead the country's tariff and trade agenda, with direct responsibility for the Office of the United States Trade Representative.
J.K.Gengler--LiLuX
