Home / NEWS / Donald Trump ‘picks TV commentator and tariff critic Larry Kudlow as top economic adviser’

Donald Trump ‘picks TV commentator and tariff critic Larry Kudlow as top economic adviser’

Larry Kudlow, a TV commentator and critic of steel tariffs, will become Donald Trump’s new top economic adviser according to numerous US media reports. 

The former Wall Street economist is expected to be announced as head of the White House’s National Economic Council within days. 

On Wednesday it was widely reported that Mr Kudlow had accepted the job after speaking numerous times with the US president. 

He will replace Gary Cohn, the former Goldman Sachs executive who resigned after losing a fight against Mr Trump’s tariffs of 25 per cent on steel imports and 10 per cent on aluminium. 

Mr Kudlow, a CNBC television commentator, also criticised the tariffs when they were first announced in an article headlined: “Mr. President, tariffs are really tax hikes.”

He wrote: “Trump should also examine the historical record on tariffs, because they have almost never worked as intended and almost always deliver an unhappy ending.”

Larry Kudlow speaks at the New York State Republican Convention in May 2014

AP Photo/Seth Wenig

However Mr Kudlow was said by friends to be amenable to Mr Trump’s tweaked position, that makes Canada and Mexico exempt and allows other countries to bid for similar status. 

Stephen Moore told The New York Times earlier this week that his friend Mr Kudlow could the  “supportive” of the new stance.

“My own hope is, if Larry gets this job, he can have an impact in pushing Trump in a good direction on this.,” Mr Moore said. 

Mr Trump, who acknowledged his differences with Mr Kudlow when asked about speculation of the appointment earlier this week, is said to be a fan of the commentator’s TV appearances. 

Mr Kudlow has previously talked about overcoming an addiction to alcohol and substance abuse, describing in 1994 how he went into “drug rehab” to get clean. 

He is a big supporter of Mr Trump’s $1.5 trillion tax cuts, writing in December: “Trump and the G.O.P. are on the side of the growth angels with the passage of powerful tax-cut legislation to boost business investment, wages and take-home family pay. 

“The Democrats, meanwhile, are left with stale class-warfare slogans about tax cuts for the rich.”

Larry Kudlow said on Wednesday that China has earned a tough response from the United States and other countries on trade, even though he has previously criticized “blanket” tariffs.

“China has not played by the rules for a long time…I must say, as somebody who doesn’t like tariffs, I think China has earned a tough response,” said Kudlow, adding he hoped a coalition of countries could act against China on trade.

Kudlow said he was relieved by proposed exclusions for certain countries to President Donald Trump’s announced steel and aluminum tariffs, and that he did not think the tariffs would hurt the broader U.S. economy. 

Article Source : https://www.telegraph.co.uk/news/2018/03/14/donald-trump-picks-tv-commentator-tariff-critic-larry-kudlow/

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