Navarro’s remarks suggest Trump is preparing dramatic new measures for Wednesday, which the president has referred to as “Liberation Day.” Navarro is among the most hawkish voices on trade in the president’s inner circle, and it was not immediately clear whether he was previewing official administration policy or speaking for one side of an internal debate over the tariffs.
Also speaking on Fox News on Sunday, Kevin Hassett, director of the White House National Economic Council, declined to outline Trump’s tariff plans.
“I can’t give you any forward-looking guidance on what’s going to happen this week,” said Hassett, who is widely regarded as more skeptical of tariffs than Navarro. “The president has got a heck of a lot of analysis before him, and he’s going to make the right choice, I’m sure.”
Whatever the case, Navarro’s comments are sure to rattle markets amid intensifying fears about the global trade war Trump has touched off since taking office in January. Though investors had appeared to cheer Trump’s return to the White House, markets have since tumbled, with the benchmark S&P 500 on track to finish the first quarter down about 5 percent.
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