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Trump has a 'feeling' Gary Cohn will be back

March 12, 2018 07:55·
Gary Cohn director of the National Economic Council said late Tuesday he would resign after he lost a fight over tariffs

Gary Cohn director of the National Economic Council said late Tuesday he would resign after he lost a fight over tariffs

More importantly, Trump could ask for quotas and tariffs on a wider range of Chinese products, including furniture, auto parts and electronics, if the United States government concludes that China has engaged in unfair intellectual property and industrial policy practices.

The President and Mr. Navarro share the same hard-line views on trade that were a centerpiece of President Trump's campaign.

Gary Cohn, the chief economic adviser to Trump, who argued against trade protectionism, resigned late Tuesday after Trump first announced the tariff plan and his successor has yet to be named.

Navarro, a 68-year-old former economics professor whose ideas were once considered well outside the mainstream, joined the Trump campaign in 2016 after one of his books on China happened to catch the eye of Trump son-in-law Jared Kushner during an internet search.

"This is Gary Cohn's last meeting in the Cabinet", Trump said Thursday at the meeting. The White House said this week that Cohn would leave his gig soon. Trump has told associates the tariffs could be helpful to the GOP cause in the election in the heart of steel country. In a tweet, he said the "U.S.is acting swiftly on Intellectual Property theft".

The Trump stalwart said the administration was considering "exemptions".

Trump had indicated he would be flexible toward "real friends", and during the signing confirmed Canada and Mexico would be permanently exempted if the ongoing renegotiation of the North American Free Trade Agreement is successful.

Will Europe impose reciprocal tariffs on US goods?

"There's negligible-to-nothing effects", he said accusing the MSM of hyping prospects of a trade war.

Navarro made his name, in part, with scathing attack on Chinese trading policies, including a book entitled, Death by China: Confronting the Dragon - A Global Call to Action. Kushner reached out and Navarro quickly became an economic adviser. Navarro has been a critic of China and the Trans-Pacific Partnership.

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Congressional Republicans and business groups are bracing for the impact of the tariffs and the departure of Cohn, a former Goldman Sachs executive who has opposed them.

Trump, who has cast tariffs as an effort to protect American manufacturing jobs, told delegates at a Latino Coalition Legislative Summit on Wednesday that he is pursuing a "rebirth of the American Dream", and will continue to do so.

Persuasive to like-minded Trump, perhaps, but not to many free-trade-loving Republicans.

"I've been talking about this a long time, a lot longer than my political career", he said.

"They buy those start-up companies that are on the cutting edge of artificial intelligence, robotics and everything we're gonna need", he said. "But in his own way he's a nationalist because he loves our country".

But Navarro is still riding high.

"This is Gary Cohn's last meeting in the Cabinet and of the Cabinet". The real target of the tariffs was China's massive expansion of its steel industry, which has hurt other producers around the world, including in the US. They spoke only on condition of anonymity to discuss internal administration roles.

"People are anxious Gary's departure signals a pretty significant shift in economic policy from this White House from what has been so far very sound economic policy that the broader conservative movement has been supportive of", the source said.

"WTO [World Trade Organisation] needs to get its act together and get a little more ambitious about fixing some of these problems, but I think tariffs is the wrong way to go about it", Dimon said, speaking on Bloomberg TV.

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