White House Push on Trade Continues

The White House said it is prepared to see China retaliate beyond simply imposing tariffs, but offered reassurances to U.S. firms this week, stating that China has more to lose in a trade war."President Trump has given China every chance to change its aggressive behavior," White House trade adviser Peter Navarro said. "China does have much more to lose than we do." The White House view there is couched on the fact that China exports nearly four times as much to the U.S. as the U.S. sends to China.“This president will have the back of Americans, whether they are here on a farm in Iowa or in Shanghai trying to operate there," Navarro said.A new report, authored by Navarro, calls out China on "economic aggression” and attempts to lay out President Trump's argument for tariffs. "How China’s Economic Aggression Threatens the Technologies and Intellectual Property of the United States and the World," the report does not offer any new policies beyond those already under consideration or announced on trade and investment restrictions.Even though Chinese leaders view Navarro as an irritant, his report will likely get attention at the highest levels in the Chinese government.