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

July 26, 2020 0 By HearthstoneYarns

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 2014Credit:
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. 

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.