Current U.S. trade policies may be creating volatility in the near term, but will be good for the markets in the long run, Peter Navarro, one of President Donald Trump's top trade advisors, said on CNBC's "Closing Bell" on Monday.
Trump's latest round of tariffs on Chinese imported goods kicked into effect on Monday, and China promised to retaliate in an escalating trade conflict that could jeopardize planned talks between the two sides. Over the weekend, The Wall Street Journal reported that Beijing rejected Washington's invitation to restart talks.
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