Bannon, Financial Times Confirm: MAGA-nomics Shatter Globalism, "Free" Trade

Last Updated on January 7, 2025

A recent article published by Financial Times is raising the white flag on so-called “Free Trade” that decimated the middle class in the United States in favor of building a Chinese middle class by way of WTO membership and Most Favored Nation Status. 

Gillian Tett of the Financial Times recently published an article delving into Peter Navarro’s economic framework.

Steve Bannon hosted Jason Trennert on Tuesday’s WarRoom to discuss an unexpected turn in the narrative around “Maganomics.”

According to Bannon, the piece, a rare acknowledgment from a globalist paper, explores how Trump’s populist-nationalist movement reshapes trade policy.

“Gillian Tett wrote a magnificent piece,” Bannon said. “It’s shocking to see the FT even discussing Maganomics in such a balanced way. They’re waking up.”

Trennert, a leading voice in rethinking American economic policy, agreed. He emphasized that Trump’s approach—tariffs, renegotiated trade deals, and a focus on sovereignty—has redefined how the U.S. engages with the global economy.

Trennert zeroed in on a core issue: China’s entry into the WTO. “It was a massive wealth transfer,” he said. “The American middle class was decimated while China’s middle class grew. The U.S. Chamber of Commerce loved it—more profits for them. But it hollowed out America’s working class.”

This viewpoint, once dismissed as fringe, now finds bipartisan traction. Both Republicans and Democrats increasingly view China as an economic rival, if not an outright enemy. Trennert added, “Free trade isn’t free. These agreements are thousands of pages long, riddled with carve-outs favoring the elites, not working-class Americans.”

Bannon called the FT article a “seminal moment” for the movement. “It explains Maganomics in a way that’s accessible,” he noted. “People might not agree, but they no longer think it’s radical.”

Trennert admitted his surprise at the FT’s coverage. “It’s a globalist paper, heavily invested in the post-war rules-based order. To see them give serious consideration to Navarro’s work shows they’re learning.”

The article examines the collapse of classical economic theories, like those of David Ricardo, which have dominated global trade policy since the 18th century. Navarro’s framework, in contrast, prioritizes national sovereignty and reciprocity in trade.

“This is about understanding why there’s so much political angst,” Trennert explained. “People want to belong to a sovereign nation, not a globalist system. It’s a recognition of the failures of free-trade dogma.”

Maganomics has sparked debates about reshoring manufacturing, protecting American workers, and rejecting the idea that globalization is inevitable. For Trennert and others, this isn’t just a Trump policy—it’s a movement.

Bannon highlighted the thinkers shaping this vision: “Peter Navarro, Scott Bessent, E.J. Antoni, Steve Cortez, Jason Trennert—they’re rethinking the economic foundations of populist nationalism.”

Bannon teased future discussions, including Trump’s forthcoming speech at Mar-a-Lago. “The world is watching,” he said. “Maganomics is no longer just a theory. It’s a blueprint for change.”

Read more about Tuesday’s show at WarRoom.org.

For more context about Maganomics, check out this WarRoom segment featuring Bannon and Trennert:

You May Also Like
Star snaps of the week: Post Malone, Brooklyn Beckham and more

Weekly Celebrity Highlights: Post Malone, Brooklyn Beckham, and More

Weekly Celeb Snapshots: Post Malone, Brooklyn Beckham, and More Cookie Policy Notice:…
Will There Be A Season 2 Of ‘The Better Sister’ On Prime Video? Everything We Know

“Exploring the Possibility of Season 2 for ‘The Better Sister’ on Prime Video: Latest Updates”

Just because the murder has been solved doesn’t mean we can’t come…
Louisiana police arrest third suspect in Super Bowl reporter Adan Manzano’s hotel death

Third suspect in the hotel death of Super Bowl reporter Adan Manzano arrested by Louisiana police

Louisiana police have arrested a third suspect in connection with Super Bowl…
Feel-Good Friday: Dad Whose Health Made Him Ride the Bus Is Gifted a Sweet Ride from His 3 Strong Sons

Happy Friday: Father Gifted Car by His 3 Sons after Health Improved Enough to Stop Using the Bus

It’s a few weeks before Father’s Day, but this brief tale of…
‘The Better Sister’ Ending Explained: Why [SPOILER] Killed Adam And How They Got Away With It

Understanding the Conclusion of ‘The Better Sister’: Deciphering the Motive behind [SPOILER]’s Actions and Their Escapade

In the thrilling new series on Prime Video, titled The Better Sister,…
Trump-backed candidate seeks to win Polish presidency in vital European election

Candidate supported by Trump aims to secure Polish presidency in crucial European election

The upcoming presidential election runoff this Sunday is heavily influenced by President…
JPMorgan CEO Jamie Dimon Brings Fire to Econ Conference—It's 'The Enemy Within' That Could Doom US

Jamie Dimon, CEO of JPMorgan, discusses threats to the US economy at conference

Delivering his remarks at the forum in the Reagan Presidential Library, Dimon’s…
I tried the $1 drug hailed as BETTER than Ozempic... the weight-loss results don't lie but now I can't stop

I tested the $1 medication praised as superior to Ozempic… the weight loss outcomes are undeniable, but now I am struggling to quit.

They’re tiny — no bigger than a thumb nail — and discreet.…
Horror as at least TEN are killed in landslide at quarry mine

Ten people killed in a tragic landslide at a quarry mine

At least 10 people have been killed after they were swept up…
Watch: Donald Trump Releases Video Saluting Elon Musk as He Rides Off Into the Sunset

Video: Donald Trump Shows Respect to Elon Musk as He Departs at the End of the Day

Upon departing from Washington, Elon Musk is bid farewell by President Donald…
South Carolina death row inmate chooses lethal injection after firing squad controversy

South Carolina prisoner on death row opts for lethal injection following debate about firing squad.

A man from South Carolina who had been sentenced to death and…
‘The Better Sister’ Episode 5 Recap: The Stand

Recap of Episode 5 of ‘The Better Sister’: The Showdown

Ethan Macintosh is represented by arguably the most incompetent lawyer imaginable. Despite…