US trade representative Peter Navarro speaking on CNBC
- China just 1 of several trade deals
- China phase I deal in the bank
- We look forward to more trade deals in 2020
- Expects UK, Vietnam, Europe trade talks in 2020
- China deal has intellectual property theft pieces that were agreed and may
- In China deal have a base application for technology transfers
- In China deal financial market access for banks and insurance companies
- Have 200 billion dollars of purchases from China on March 2017 baseline which should take a big chunk out of the US trade deficit with China
- Should be able to get deal signed in January
- Cyber espionage is intolerable and the key issue for 2020.
- Sees closer to 3% GDP growth in 2020
- US has concerns about Huawei hardware, software
- Sees consumers been the anchor for growth in 2020
- we are going to get a lift in the trade balance
- The sleeper in growth is the government.
- Tariffs have done a tremendous job of bringing in more investment. Cites auto.
- It will be the roaring 2020s
- Sees 32,000 Dow as a conservative target for the end of 2020
- Structurally the US is down through the 20s. Should bring down the deficit.
- What is missing in the China deal is cyber intrusions into our business interests
- Will spend a lot of time looking at counterfeits and trying to fix that problem with China
- Expects the NASDAQ to outperform the Dow. Boeing has been a drag
Navarro had a lot to cheer on his end of year interview on CNBC on the economy and the trade. He expects more in 2020.
