Peter Navarro: If China doesn't abide, US can 'take proportionate measures'

White House trade adviser Peter Navarro called Wednesday and Thursday "the two greatest days in American trade policy history ever" due to the signings of the U.S.-China trade deal and the United States-Mexico-Canada Agreement (USMCA).

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"One of them would have been enough, but to have them come one day apart is truly extraordinary," Navarro told FOX Business' Charles Payne on Thursday. "We've got Japan agreements, Canada, Mexico, China, Korea, I mean, wow."

Navarro said the markets reacted well to these trade deals because they mean Americans will have more jobs available.

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But what makes the U.S.-China trade deal different than what was agreed to under the World Trade Organization, Navarro said, is that when China joined it, the nation broke "every rule" and it took years to fight those violations.

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"We have a 90-day clock from the day somebody walks in or the administration itself files a complaint with USTR Robert Lighthizer," Navarro said on "Making Money with Charles Payne." "And here's the best part, at the end of that, if we, the United States, are not satisfied that the dispute is resolved, we unilaterally get to take proportionate measures."

Navarro said if those measures are taken, "the Chinese promised not to retaliate."

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