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White House Commerce and Manufacturing Adviser Peter Navarro joins ‘Mornings with Maria’ to discuss record-setting market gains and how President Donald Trump’s trade, tax and energy policies are boosting economic growth.
when President Donald Trump they announced reciprocal tariffs, Wall Street panicked and markets fell. Now, with the Dow above 50,000, Trump trade adviser Peter Navarro says the rebound is proof that the tariffs defied Wall Street fears and helped spur investment, productivity and economic growth that critics never saw coming.
White House Trade and Manufacturing Adviser Peter Navarro joined FOX Business’ Maria Bartiromo on “Mornings with Maria” as markets pushed to new highs, reflecting the strong investment that followed April’s tariff sell-off.
The rally marks a dramatic reversal since early April, when stocks sold off sharply after the tariffs were announced and the Dow fell toward 38,000. Navarro said that moment exposed a fundamental disconnect between them Wall Street’s inflation fears and how President Donald Trump’s economic strategy is actually working.
“The Big Money Show” panel discusses the Dow’s record milestone, President Donald Trump’s prediction and upcoming economic data.
“It’s nice to be right,” Navarro said, pointing to his April prediction. “We were talking about April 7th, or so… The Dow was down to 38,000… What I told you… It’s going to be 50,000.”
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Navarro argues fees are widely misunderstood because they are considered in isolation and not as part of a wider framework of the offer. This approach combines tax cuts, deregulation, energy policy and trade enforcement. Navarro calls these the administration’s “four engines of growth.”
“What you get with tariffs is you get a massive wave of investment … That increases productivity … Productivity is the key to increasing real wages,” Navarro said.
Navarro argued the the increase in investment is strengthened productivity, supporting wage growth without driving inflation. He said the same dynamic played out after the 2016 election, when futures markets fell only to be followed by a powerful rally.
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Recent economic data, Navarro said, is beginning to reflect this sequencing. He noted that the ISM manufacturing index jumped above 50, indicating an expansion for the first time since 2022, after months of construction and capital investment.
“You have to get the construction jobs first, then you get the manufacturing,” Navarro said, adding that durable goods orders and GDP growth are now moving in the same direction.
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Navarro also urged investors to recalibrate expectations on labor data as immigration enforcement reshapes the labor market.
“50,000 a month will be more like what we need,” Navarro said, arguing that the headline numbers should be seen in context.
With the Dow compensation of 50,000 Much faster than skeptics expected, Navarro says markets are showing confidence again that President Donald Trump’s trade policies are driving growth, not inflation.
