Navarro: Trump Is Fixing the Real Drivers of Inflation
Peter Navarro didn’t mince words when it came to the battle against inflation. In an exclusive interview at the White House with The Alex Marlow Show podcast, hosted by Breitbart Business Digest co-author Alex Marlow, Trump’s senior trade and economic adviser laid out exactly how the administration is thinking about inflation and why the media is getting it all wrong.
Navarro describes inflation as an economic war that the administration is fighting on three critical fronts, a strategy he calls “Trump’s 3D War on Inflation.”
“This is a three-dimensional battle,” Navarro explained. “We’re going after inflation with deregulation, domestic energy, and defunding Biden’s overspending. That’s how we win.”
“Inflation is not primarily about tariffs,” Navarro insists. “That’s the red herring the media wants you to focus on. The real drivers are government overreach, energy costs, and reckless spending. That’s what Trump is fixing.”
Trump’s Three-Dimensional Fight Against Inflation
For Navarro, cutting government red tape is key to lowering costs across the economy. He argues that overregulation has suffocated businesses and driven up prices for consumers. “Every dollar a business spends on unnecessary regulations is a dollar that can’t go to hiring workers, raising wages, or lowering costs for consumers,” he explains. Trump’s approach is simple: “Cut the red tape, let businesses thrive, and prices will come down.”
Energy policy is another pillar of the administration’s plan. Navarro doesn’t hesitate when discussing its importance. “Energy costs are the foundation of inflation,” he declares. Under Biden, restrictions on drilling and pipelines have sent oil and gas prices soaring, which in turn have driven up the cost of nearly everything. “When energy prices go up, everything goes up. Food, manufacturing, transportation—you name it. Under Trump, we’re going to open the spigots again and bring those prices down.”
He points to fertilizer costs as an example. “You can’t grow food without fertilizer, and fertilizer is made from petroleum. Biden’s energy policies drove those costs through the roof, and guess who paid for it? Every single American at the grocery store.” Lower energy prices, he argues, will have a ripple effect across the entire economy.
But Navarro doesn’t stop there. He is blunt about the role of reckless government spending in fueling inflation. “Biden’s multi-trillion-dollar spending spree threw gasoline on the inflation fire. We’re going to put that fire out.” Trump’s strategy, he explains, is to rein in federal spending, reduce deficits, and bring down borrowing costs. “Less spending means lower interest rates, lower mortgage rates, and lower credit card rates. We’re taking the weight of Washington off the economy.”
The Media’s ‘Gloom and Doom’ Narrative on Inflation Is Wrong
Navarro dismisses the mainstream media’s alarmism about inflation, accusing them of trying to “destabilize the Trump administration.” He argues that their obsession with tariffs is designed to mislead the public. “They don’t want you to focus on how Biden wrecked the economy. They just want to scare you about Trump’s policies,” he said.
He points out that Trump’s approach worked before. “In the first term, we saw real wages rise, especially for the working class. Biden reversed that. But we’re going to fix it again,” Narvarro said.
Navarro’s message is clear: the economic outlook under Trump is bullish. “When you cut the cost of doing business, cut the cost of energy, and cut out wasteful spending, inflation comes down, and wages go up,” he explained.
Peter Navarro (left) watches as President Donald Trump speaks to the press in the Oval Office on February 10, 2025. (ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)
The administration sees this as a long-term structural fix, not just a short-term reaction. “This isn’t about reacting to inflation—it’s about winning the war against it once and for all.”
Trump Isn’t Playing Defense on Inflation—He’s Attacking It
Navarro is adamant that the mainstream media is pushing a false narrative. “They want you to think tariffs are the issue. They aren’t. Inflation is about energy, regulation, and spending—and Trump is tackling all three.”
This interview, conducted inside the White House, provides a critical insight into how Trump’s team is thinking about economic policy. As Navarro’s words make clear, the administration isn’t playing defense. It’s on the attack.
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