White House Trade Advisor: It is "stupid" to talk about an economic recession, tax cuts are coming soon.

White House trade adviser Peter Navarro, one of Trump’s most vocal supporters of tariffs, has downplayed fears of a recession. “What I want to say to retail investors is, don’t be intimidated by all this,” Navarro said, referring to the recent market turmoil. “The biggest tax cut in U.S. history, the broadest tax cut in U.S. history, is coming in a few months, so when you think about that, any talk of a recession looks silly,” he said in an interview with CNBC.