- 1 year ago
Peter Navarro, President Trump's top trade advisor, speaks to reporters outside the White House.
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00:00There are no questions for us.
00:01I'll be here as long as you need to.
00:03I want to deal with two separate issues.
00:06Hey, hey, hey.
00:09I want to deal with two very separate issues.
00:15One's the weaponization of government and lawfare.
00:18The other is I'll work through the EU deal today, which is just absolutely epic.
00:25And what I'd like to do is just talk about this lawfare issue.
00:28Take a few questions and then go to the other one.
00:34So if you can, try not.
00:35No, don't interrupt me.
00:37I'm here to serve.
00:39Okay.
00:40Let me get through what I want to say.
00:42Take your questions.
00:43So let's proceed that way.
00:44Dr. Navarro, I'm the lawfare.
00:45See, stand out.
00:46Didn't you?
00:47Don't you listen to me?
00:48Don't do that again.
00:50Okay?
00:50Okay.
00:51Who are you from?
00:52Where are you from?
00:53Gateway.
00:53Gateway.
00:53All right.
00:54Well, just I love those guys.
00:56They're my favorites.
00:57Just be cool.
00:59So what I want to talk first about is about there's an article that appears today in Breitbart News,
01:09which deals essentially with an FBI agent named Walter Giubino,
01:15who was recently fired by Kash Patel, the FBI director.
01:20And the media, led by the New York Times, is trying to make this guy a martyr.
01:28And this is the same guy that put me in handcuffs, put me in leg irons, and led a totally unnecessary arrest with armed FBI agents at Reagan Airport.
01:40And Perk bought my fiancé, and he's a man who, I will now show you, really helps understand what has been a long-term, consistent, weaponized attack on Donald John Trump going back to 2016.
02:03So I want to walk you through the arc of that.
02:05So I want to walk you through the arc of that.
02:06We start with the Steele dossier.
02:10Christopher Steele writes this thing paid for by Hillary Clinton.
02:14It was always a propaganda piece, and it became the catalyst for the Russia hoax, Crossfire Hurricane.
02:23And the first thing that Giubino did was, and this is all alleged by whistleblowers, everything I'm telling you is from whistleblowers that were reported through.
02:34And thank you, Senator Chuck Grassley, for getting this information out.
02:39He's doing a wonderful job on this.
02:42Giubino was one of the FBI agents who blessed the Steele dossier, who basically vouched for its authenticity,
02:49and therefore said Crossfire Hurricane on its way.
02:53That was a complete hoax, a complete hoax that cost tremendous amounts of political capital, harmed the president, and was just wrong.
03:02Now, at the same time, there was a separate operation going on, and it was called, I'll call it the Egyptian hoax.
03:12It was codenamed Crimson River, and they later renamed it Red Massari.
03:19It was an allegation that the Egyptian government had given $10 million to the Trump campaign.
03:26It was total BS.
03:28Just nothing there.
03:29Again, Giubino played a central role in propagating that and then using that to do these investigations, do the leaks, do the smear tactics on Donald Trump.
03:44Now, Crossfire Hurricane allowed Giubino then to move into the Mueller investigation.
03:51And he served there throughout the investigation.
03:56One of the things that the whistleblowers point out is that Giubino's laptop mysteriously got totally wiped clean.
04:07So, all the data on there was now unavailable to you as journalists.
04:14The whistleblowers point out that there were more than one people, one person, on the Mueller report team that used a technique where they put their password in a number of times in their cell phones and it wiped all the data clean.
04:31So, it seemed to be the culture of the Mueller report.
04:34And if, in fact, it's true that Giubino actually did that on purpose, that's a felony.
04:41That alone would put him in jail.
04:44Now, you think I'd be done, but no, I got a lot more to go with this guy.
04:49There was a thing called the Emoluments Clause.
04:51It's a clause in the Constitution that says that people like presidents and government officials can't take money from foreign governments or from state governments by getting favors, things like that.
05:06Okay?
05:07Again, Giubino, according to whistleblowers, was at the very root of that, propelling that forward.
05:14It has been revealed as nothing more, nothing more than a fishing expedition.
05:19It was like a license to hunt phone records and all sorts of other things.
05:23That guy was at the center of that.
05:27And then, in my view, some of the worst damage he did, not just to the president, but to a lot of people I consider my friends, there's something called Operation Arctic Frost.
05:39And that was the one that followed J-6, that investigated all the events surrounding the use of the Electoral Count Act of 1887, which is a perfectly legitimate tool to call for a recount of votes.
05:56Giubino used that, and it led to attacks on people like Jeff Clark, John Eastman, both of whom may lose their heart.
06:08They may lose their law license, spent millions of dollars on it.
06:12Jenna Ellis, Sidney Powell, Rudy Giuliani, Giardina was there as well.
06:19And in some sense, I buried the lead because going back to Crossfire Hurricane, one of the big casualties there, and a great friend of mine and a patriot, was Mike Flynn.
06:29He was forced to resign because of that nonsense.
06:32And when we lost Mike Flynn early on in the administration, we wound up with John Bolton, how that worked out.
06:39One of the most treacherous people that's ever been in that West Wing.
06:44So this is the guy, if you weave that through, it paints a picture of a sustained effort by people inside the FBI, inside the Justice Department, inside what we love to call a deep state, which is what it is, inside the rhino wing of the Republican Party going after Donald Trump.
07:09So this guy, nobody should feel sorry for him.
07:12He's not a martyr.
07:13New York Times, you got to do a better job of doing your journalism.
07:18And he's the guy that put me in handcuffs, put me in leg irons.
07:22He's the guy that served me with my subpoena.
07:24He's the guy who testified at the grand jury.
07:27And there's allegations there that that testimony was not truthful.
07:32He's the guy that testified at my trial.
07:35And I hold this man responsible.
07:38And it's not about me.
07:40I hold him responsible for a lot of what has been done to really erode trust of the American people in our American justice system.
07:49That's the story of Walter Giardina.
07:52I urge everyone of you guys to read the Breitbart article.
07:56Fact check me.
07:57And I dare you to find anything I say in there that's not absolutely true.
08:01And if it's absolutely true, that man needs to go before Congress.
08:06He needs to be hauled up.
08:08And he needs to be held accountable.
08:10And it's not just him.
08:11It's Obama.
08:12It's Clinton.
08:13It's Comey.
08:14Page.
08:15Clapper.
08:16Brennan.
08:17Schiff.
08:18And all the rest of them.
08:19Okay.
08:20That's that story.
08:21I will take some question now.
08:23Just on that.
08:24And then we'll go into the separate thing on EU.
08:27Yes, sir.
08:28Dr. Farr, thank you for Conrad's gateway funding.
08:30You wrote your op-ed.
08:31If we don't hold these law fair scouters accountable, they will do it again.
08:35What kind of punishment do you think is appropriate for Giardina but don't be arrested?
08:41Well, remember, all of these things are allegations by whistleblowers inside the FBI or Justice
08:49Department.
08:50Okay?
08:51I mean, that's damning in and of itself.
08:53But there's all sorts of things you could charge people like Giardina with.
08:57I mean, there is the conspiracy.
08:59Didn't they charge Donald Trump's conspiracy?
09:02I mean, that's their, like, favorite go-to charge.
09:04I mean, think about that.
09:06He's involved in every single operation against the president.
09:11And every time they were either trying to stop him from getting elected in 2016, overthrow him when he was in office,
09:19or during the interregnum between 45 and 47, they were trying to stop him from viability in an election and putting him in prison.
09:31So he needs to be investigated, and there's a lot of people I believe.
09:38Look, I went to prison for defending the Constitution.
09:41And by the way, my case is still on appeal.
09:44Why is it on appeal?
09:46I serve my prison time.
09:47Why am I still paying lawyers and spending time on that?
09:51Because there's important principle constitutionally at stake in my appeal.
09:57If I lose that appeal, everybody in this West Wing here, everybody who will ever serve in the White House, will be exposed to a choice between getting a congressional subpoena and violating the Constitution or going to prison.
10:11So that's the Hobson's choice.
10:16All right, what else you got?
10:17Anybody on this?
10:18Yes, sir.
10:19New York appeals court has thrown out President Trump's $500 million New York civil fraud penalty.
10:22That was prosecuted by Leticia James last year.
10:24Yeah.
10:25The appeals court says it was, quote, excessive.
10:27What is your reaction?
10:28Yeah.
10:29Leticia James is another one that belongs in jail.
10:32Look, the Democrats, look, they really overplayed their hand on this because they thought they could take Donald Trump out.
10:45They didn't.
10:46And in the process, they totally destroyed American people's faith in our Justice Department.
10:52And they got President Trump a lot of votes because of that.
10:57I mean, the book I wrote about that, I went to prison so you won't have to.
11:02The whole theme of that thing is that I'm the wake up call.
11:06If they can come for me, they can come for you.
11:08So people need to understand that these are bad people.
11:11Leticia James, Fannie Willis in Georgia, Alvin Bragg in Manhattan.
11:20The question is, how coordinated were they?
11:24And that's a question that needs to be answered by an investigation.
11:27Peter?
11:28On the EU real quick, if we could.
11:30We'll get to that.
11:31Let me just finish this, because it's a really important story.
11:34I will give you what you need.
11:36Yeah.
11:37On the EU, sir?
11:38Anybody?
11:39Anybody?
11:40One last thing?
11:41Okay, let's go.
11:42On the EU.
11:43On the EU.
11:44Yeah, yeah, let's do the European.
11:47So let me just say a few words on the European Union deal.
11:52Because in many ways, I can think of no deal more important than with the European Union.
12:02I mean, it is, after all, one of the largest entities in the world.
12:08It's so important, not just economically, but strategically.
12:13But for many, many years, it has been taking unfair advantage of the United States.
12:19Consistently higher tariffs.
12:21Consistently higher non-tariff barriers.
12:24And even when we have gone to the World Trade Organization and won on things like agricultural
12:31cases, the EU has refused to cooperate.
12:35And so we've been in a situation where Germany sells us seven cars for every one we sell them.
12:41We have a massive trade deficit with the EU.
12:44The trade deficit itself, writ large, is a great threat to our national security and economic security.
12:51And it's an emergency that we're dealing with.
12:53So this was like, this is like a really important mountain to climb.
12:59And we climbed that.
13:00And President Trump got up to the top of the mountain today.
13:04So let me, for those of you who haven't read the news yet, I mean, look, think about this.
13:11We get Europe reducing all their tariffs to zero.
13:18We continue our global tariff to fight the trade deficit at 15%.
13:24Wow.
13:25Secondly, we will impose 15% tariffs on autos.
13:32It's a drop from the 25%.
13:34But remember, before President Trump took office, the tariff was 2.5% compared to 10% in Europe.
13:42So that's a great win.
13:45We maintain completely our tariffs on steel and aluminum without exemptions or exclusions.
13:53We're getting $750 billion worth of LNG purchases.
13:59We're getting $600 billion of investment here in the U.S.
14:03in our strategic sectors that we need to secure our supply chains and make them resilient.
14:09And we're getting Europe to buy more of our arms in cooperation with the uplifted NATO effort.
14:20I mean, in many ways, the Ukraine situation has been a total wake-up call for Europe.
14:26And so we're ushering a completely new and beautiful spirit and environment of cooperation with Europe.
14:39And nobody would have imagined the success of this.
14:43Anybody who criticizes Trump trade policy, including the courts right now, simply has to look at this magnificent achievement that President Trump has secured, not just for the American people, but for Europe and the security of the world.
15:00Okay, I'll stop there.
15:01So let's go to Eamon first, and we'll go here, and then we'll go here.
15:04Yes, sir.
15:05So today was the joint statement.
15:06Do you have a timeline now for how long before we see the binding legal language?
15:10That negotiation apparently still on?
15:12Yeah, I'll let you talk to you.
15:14That's a Jameson Greer thing.
15:16But I have coined that expression in Trump time.
15:20We do things as fast as possible without screwing it up.
15:23So we're on that.
15:25I mean, it's a great deal for both of us.
15:27Why would we, why would we delay?
15:30Okay?
15:31Yes, ma'am.
15:32You're with?
15:33Media set, Italian television.
15:35Ah, Italian television.
15:37Yes.
15:38There is a lot of, a lot of sectors are out of this, of the support.
15:44I'm thinking steel, I'm thinking aluminum, I'm thinking wine, alcohol, and the digital market.
15:51Can they expect, can you expect something more than 50%, 50% for wine, for instance, and alcohol?
15:59I can't speak to that.
16:01I can tell you that the experience from the first term with steel and aluminum tariffs is
16:08that every time we try to give an exemption or exclusion to one of our allies, they abused it totally.
16:15And we learned that it was a slippery slope.
16:18So there will be no exemptions, no exclusions for steel and aluminum tariffs.
16:23As you may have seen just this week, we added over 400 new products to the steel and aluminum tariffs.
16:33We did that because these tariffs, it's a strategic game on the part of, of people who try to export
16:42to us.
16:43What they do is they figure out ways to do it.
16:45So what they were doing was shifting downstream into these other products.
16:49So they're not, we're not gonna, they're not gonna do that anymore.
16:52All right.
16:53Yes, ma'am.
16:54I said I didn't have a comment.
16:56Can you take away from the Fed minutes yesterday on the dispute ongoing dispute on the retreat
17:03of the President's tariffs?
17:04The Fed is, the Federal Reserve is totally out in touch with reality.
17:12If you look at, at the global interest rate spread right now, we're at 425, 4.25 in the interest rate.
17:23Okay.
17:24Europe is more than 200 basis points lower than we are.
17:31Japan's four times lower.
17:33China's three times lower.
17:36Now, that, that dog won't hunt for the American people because it creates all sorts of problems
17:42here.
17:43Just the high interest rates alone are discouraging the mortgage and housing market and the purchase
17:50of new cars.
17:51And, and it just, it's very costly because we have increased debt financing because about
17:5820 to 30% of our debt financing is just pure short run debt.
18:03So that's no good.
18:04But there's also currency effects.
18:06When you have higher interest rates and they're lowering theirs, the dollar's higher and that
18:11exacerbates the trade deficit we're trying to deal with.
18:15So, if the Fed's looking at what's going on, we're seeing improvements in inflation.
18:23The tariffs are having zero impact on inflation like they did in the first term.
18:29And my fear with the Federal Reserve, it's just a partisan game going on.
18:34If you look at what you have there, you only have two Republicans nominees on there, soon
18:40to be a third with Stephen Mirren.
18:43But the, but the other five, it's like, and Jay Powell, he's a Republican, but he's so anti-Trump,
18:50it's, it's, it's unsettling.
18:53And, and I say that just so I fill that out a little bit.
18:58If you look at the arc of Powell's decisions, everything he's done since he got appointed
19:05has been against President Trump when he was in with Biden and yelling, he was doing things
19:11he shouldn't have done, lowering rates too early and causing inflation.
19:14So, they got to get their act together.
19:17I hope, I hope they, they find some enlightenment in Jackson Hole.
19:24But, I'm not betting my house on that.
19:27Okay.
19:28Yeah, go here and then go here.
19:29Hang on.
19:30Hang on.
19:31Hang on.
19:32Go here, here and then here.
19:33Yes.
19:34I'm not saying that at all.
19:36How sustainable are those secondary tariffs against India?
19:41And how important are those to the whole Russia account?
19:44Well, let's talk about India.
19:45I would refer you to the piece I did in the Financial Times that appeared on Monday.
19:52And the Indian situation is very interesting.
19:55A lot of people don't know this.
19:57But prior to Russia's invasion of Ukraine in February of 22, India exported, excuse me,
20:06India bought virtually none, no Russian oil.
20:11I mean, it was like 1% of their needs.
20:23So, the argument somehow now, as the percentage has gone up to like 30 and 35%, that somehow they need Russian oil to cool their homes or cook or drive their cars is nonsense.
20:38And what I do in the Financial Times article is I illustrate how Russian refiners have gotten in bed with Italian refiners in a game in which they get cheap Russian crude.
20:55Follow me here.
20:56Follow me here.
20:57They get crude at a discount.
20:58And then they make refined products, which they sell at premium prices into Europe, Africa and Asia.
21:02It's strictly profiteering, profiteering by the Indian refining industry, big oil.
21:14Now, think about India when you think about the tariffs we're putting in place.
21:1925% because they cheat us on trade.
21:2225% because of the Russian oil.
21:25I ask you this.
21:27What is the net impact on the Americans because of our trade with India?
21:34Well, let's think about it.
21:35They have higher tariffs.
21:36There are Maharaja tariffs, higher non-tariff barriers.
21:40We run a massive trade deficit with them.
21:43So, that hurts American workers, hurts American businesses.
21:47Then they use the money that they get from us when they sell us stuff to buy Russian oil, which then is processed by refiners.
21:59And they make a bunch of money there.
22:01But then the Russians use the money to build more arms and kill Ukrainians.
22:08And so, American taxpayers have to provide more aid, military style, to the Ukrainians.
22:14So, that's insane.
22:17And President Trump sees that chessboard beautifully.
22:21And you guys need to write about that.
22:24That's what's going on there.
22:26And in many ways, the road to peace runs through New Delhi.
22:30And so, that's the answer to that.
22:32Okay.
22:33Who was next?
22:34So, sticking with India.
22:36You're with?
22:37EWTN, Owen Jensen, Global Catholic Network.
22:40Okay.
22:41Okay.
22:42So, following up on that question, India.
22:43Yeah.
22:44Yeah.
22:45The doubling of tariffs of 50% is supposed to take place August 27th, just six days from now.
22:49Yes.
22:50Do you see that taking place?
22:51I see that taking place.
22:52India doesn't appear to want to recognize its role in the bloodshed.
23:02It simply doesn't.
23:03It's cozying up the Xi Jinping, is what it's doing.
23:07It's not acting.
23:09And by the way, I wrote that article in the FD just to deal with the propaganda of the Indian government to make people want to feel sorry to them.
23:19Oh, they need the oil.
23:20They don't need the oil.
23:22It's a refining profiteering scheme.
23:24It's a laundromat for the Kremlin.
23:27That's the reality of that.
23:29I love India.
23:30Look, Modi's a great leader.
23:32But please, please, India.
23:34Like, look at what your role here is in the global economy and good here.
23:43It's like what you're doing right now is not creating peace.
23:47It's perpetuating the war.
23:48I'm going to take two more and then I've got stuff to do.
23:51Let's go here.
23:52Hang on.
23:53Hang on.
23:54Here and then here.
23:55And then please let me let me move on.
23:57I've given you generous amounts of time.
23:59Yes, ma'am.
24:00So has the trade talks between U.S. and India been canceled?
24:02That was slated for later this month.
24:04I have no visibility on that.
24:06You have to talk to the USTR about that.
24:09And China still continues to be the number one exporter of crude oil from Russia.
24:14Why have they been doing the 19-day extension?
24:16We have 50 percent.
24:17We have 50 percent tariffs on China already.
24:20Yes, ma'am.
24:21Yes, ma'am.
24:22Yes, ma'am.
24:23Yes, ma'am.
24:24You alluded to Chairman Powell giving a big speech tomorrow at Jackson Hall.
24:27Yeah.
24:28Who are you with?
24:29Just for now.
24:30Fencing line with CNN.
24:31CNN, okay.
24:32What is the White House hoping to hear from that speech tomorrow?
24:35Hope is not a strategy, okay?
24:39We don't hope anything with Jay Powell.
24:42He's a lost cause.
24:44But I've said repeatedly that the best thing that can happen is that the other members of the Board of Governors get religion on this.
24:55I said that before the last meeting.
24:57And sure enough, two of them dissented for the first time since the 1990s.
25:02We'll get Steve Marin in there.
25:03He'll be a strong voice.
25:05And look, we've got to stop this partisan crap, okay?
25:11This is about America.
25:12This is about the American people.
25:14It's about workers.
25:15It's about business people.
25:16It's just, we've got to do that.
25:18And whether it's the lawfare aspects of this where we're partisan just destroying our justice system to try to put people in jail or out of power.
25:26Or whether it's this crap.
25:28We've got to stop doing that.
25:29Okay.
25:30Thank you for your patience.
25:31I've got to go now.
25:32I've got to go now.
25:33And I'll be right with, I'll be, I'll be back.
25:35I'll be back.
25:37Good to see you.
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