Trump announces Larry Kudlow as his new chief economic adviser

Trump announces Larry Kudlow as his new chief economic adviser

Trump announces Larry Kudlow as his new chief economic adviser

President Donald Trump confirmed Thursday that he has picked CNBC contributor Larry Kudlow as his top economic adviser and said the country is in line for a long run of upbeat financial news.

The 70-year-old Mr Kudlow said on Wednesday in a live TV interview that he too initially opposed blanket tariffs on steel and aluminium imports, which the White House announced last week and which have drawn rebukes from Republican lawmakers and sent global stocks reeling. Officially, the White House said there was no single factor that led to Cohn's resignation.

Kudlow, an informal adviser to Trump's 2016 presidential campaign, had also criticized the president's decision, saying tariffs would harm steel-consuming producers.

The U.S. should "seal the borders" and end all immigration and visas until the system can be made safer, Kudlow wrote.

U.S. Trade Representative Robert Lighthizer, arrives for a meeting at European Union headquarters in Brussels on Saturday, March 10, 2018. "One reason underpinning this lingering fear may be the new chief economic advisor's stance on China which adds to the tension with Kudlow having targeted the country in his first public remark". Kudlow has praised the administration's attention to the issue of intellectual property theft and forced technology transfers by China and Chinese companies.

Kudlow has credited Art Laffer, often called the godfather of supply-side tax cuts, as being formative in his own economic views.

Stockman said his time with Kudlow was spent trying to develop a tax cut plan that also reduced government spending, but it resulted in a "giant deficit".

From 1987 to 1994, he served as chief economist for the investment bank Bear Stearns. Kudlow said he is "in accord" with Trump's agenda, which includes reducing the trade imbalance with China - marking a reversal from his previous stance. During the Reagan Administration, he was associate director for economics and planning in the Office of Management and Budget (OMB). "The National Economic Council is in some ways an information broker and i look forward to that role".

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