President Trump’s trade adviser, Peter Navarro, has criticized the six other G-7 countries for not recognizing their roles in supposedly contributing to the US global trade deficit. His critique ran in a New York Times op-ed on June 8. Peterson's Fred Bergsten, in a handwritten annotation of Navarro’s piece, explains why Navarro’s main premise is based on a fallacy. But Bergsten notes that Navarro has some valid points on the need to reduce certain foreign trade barriers.

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