Here we go again!
This is the second post in row I’m doing that feature ‘s a President Trump saying one thing to the media …Then having his staff take him in a room to explain that he CANNOT do what he says he wants to do …..Even if that’s just a bargaining rouse….
Donald Trump has been pushing tariff ….Tariff at China…..
China has just pushed back with their own tariff’s on American export goods….
That push back has gotten Republican lawmakers in Red state’s angry phone calls…
There are midterm elections coming up in 7 months….
The Democrats are ALREADY riding a wave of election wins that could continue on to November and take the Republican majority away in the House….
Trump’s antic’s aren’t what they need right now…
(Nor does the American Stock Market)
So we have a newly hired White House Economic advisor saying essentially ….
Trump doesn’t REALLY want to start a trade war with China even though he said ‘Trade Wars are Good’…..
On Day Three of Larry Kudlow’s first week at the White House, the president’s new economic adviser did exactly what he was hired to do: go on TV to calm the stock market over something his boss said.
Kudlow, a former CNBC contributor and Wall Street economist who now oversees the National Economic Council, is a self-avowed advocate of free trade—but he found himself on Wednesday defending President Donald Trump’s proposed tariffs on Chinese goods.
Kudlow’s performance on Wednesday set the stage for him to play the role in the coming months of the White House’s top economic salesman, forcing him to “jump right into the frying pan,” one longtime ally said.
The administration’s recent moves on trade have spooked the stock market and scared American companies that produce goods China now intends to tax at a higher rate. Only hours after the U.S. released a list of Chinese products it intends to target, China moved to impose tariffs on roughly $50 billion in U.S. exports of soybeans, cars and other products, raising the prospect of a trade war.
With markets slipping early in the day, Kudlow went on Fox Business Network’s Varney & Co., to say the trade plans were just “the first proposals” — a not-so-coded message to his former Wall Street colleagues.
“In the United States at least, we’re putting it out for comment, it’s going to take a couple months. I doubt if there will be any concrete action for several months,”…..
Note….
Right after Kudlow made his comments the Stock market recovered to 100+ points from 400- opening….
image…Fox Business.com
An old Trump economic guy come clean on the effect of trade wars his old boss says he wants….
Former Trump economic adviser Gary Cohn said that an escalating trade war could wipe out the benefits of the Republican tax law passed last fall, the Washington Post reports.
Said Cohn: “If you end up with a tariff battle, you will end up with price inflation, and you could end up with consumer debt. Those are all historic ingredients for an economic slowdown.”
Politicalwire…