Peter Navarro, President Donald Trump’s senior adviser for trade and manufacturing, said Wednesday that despite the first drop in U.S. gross domestic product in three years, “we really like where we’re at now,” pointing to a surge in new domestic investment.

The U.S. economy shrank three-tenths of a percent from January through March, slowed by a surge in imports as U.S. companies tried to bring in foreign goods before Trump’s proposed tariffs took effect.

“I’ve got to say just one thing about today’s news, that’s the best negative print I have ever seen in my life,” Navarro told CNBC’s “Squawk on the Street.” “The markets need to, like, look beneath the surface of that [figure].”

Read more at Newsmax© 2025 Newsmax. All rights reserved.