Peter Navarro: China Is Absolutely Paying for the Tariffs

EXCERPT:

NAVARRO: "China is paying for the tariffs in three ways. They are cutting their prices, slashing their prices. They have just crushed their currency, it’s down by almost 12% now. But the biggest part of the pain China is experiencing, and I don’t think they understood this was going to happen, is that the supply chain is fleeing China right now and that is a long-term trend. I’m not even sure a deal is going to stop that unless it’s a deal that they agree to soon. Because people are leaving China, business people are leaving China because of a lot of things: high wages, the pollution, but also the fact that they don’t want their technology taken by the Chinese government."