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The Mysterious Transformation of Peter Navarro

by April 7, 2025
April 7, 2025

Thomas A. Firey

The bitter reaction by economists and Wall Street to the Trump administration’s new tariff regime has put a spotlight on one of Donald Trump’s top economic advisers, Peter Navarro. 

Once a supporter of the mainstream view that foreign exchange is beneficial and trade deficits are unimportant, Navarro shifted radically about 15 years ago, borne by fear of the economic rise of China. The change put him far outside the consensus view of the economics profession, but it earned him Trump’s ear and, later, a plumb position in his administrations.

In the Fall 2018 issue of Regulation, Pierre Lemieux describes Navarro’s transformation and discusses his reasoning for the change. Lemieux explains that Navarro’s reasoning is not persuasive, but it accurately characterizes the Trump administration’s thinking then and today. You can read the article here.

Peter Navarro is one of the top advisers behind Donald Trump's views on trade.

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