Sources have told numerous outlets that President Donald Trump has chosen CNBC commentator Larry Kudlow as his new chief economic advisor. Gary Cohn left that post last week.
The official announcement could come on Thursday. A source told CNBC that Trump offered Kudlow the job on Tuesday.
Cohn left his post shortly after Trump implemented tariffs on steel and aluminum imports. People speculated Trump would pick someone who agrees with him. They speculated wrong because, like Cohn, Kudlow loves free trade and doesn’t care for tariffs. From The Washington Examiner:
The former Reagan administration economist has spoken with Trump several times since Cohn announced his imminent departure from the West Wing, and previously served as an informal adviser on tax reform when White House aides were crafting a tax plan last fall. Trump himself told reporters on Tuesday he was “very strongly” considering Kudlow for the position, calling him a longtime friend and “very talented man.”
Those lobbying for Kudlow’s selection were pleased to see the president’s comments on Tuesday about his desire for “divergent opinion[s]” inside the Oval Office. A fierce defender of free trade, Kudlow came out against the steel and aluminum tariffs Trump unveiled last week and would likely defend multilateral trade agreements against the president’s protectionist instincts. He is also a seasoned television personality, who could excel as a surrogate for the White House on economic issues.
“We don’t agree on everything but in this case, I think that’s good,” Trump said Tuesday. “I think Larry Kudlow has a good chance. He’s a very, very talented man – a good man.”
Kudlow penned an op-ed with two others to explain why Trump shouldn’t go the tariff route. They wrote that that “steel and aluminum may win in the short term, but steel and aluminum users and consumers will lose.” They rightfully described higher tariffs as “tax hikes.”
He softened a tad after Trump decided to exempt Canada and Mexico from the tariffs while we negotiate NAFTA with them.
As the National Economic Council director, Kudlow will advise Trump “on economic issues” and work “to implement policy goals.” Kudlow supported the GOP tax bill that passed in December. He also helped Trump with taxes and economics during his 2016 presidential campaign.DONATE
Donations tax deductible
to the full extent allowed by law.