Wednesday, 23 October, 2019

Trump Calls Outgoing Economic Adviser 'a Globalist' Who 'Loves His Country'

Gary Cohn Trump Calls Outgoing Economic Adviser 'a Globalist' Who 'Loves His Country'
Patty Aguilar | 13 March, 2018, 00:24

"He's seriously globalist, there's no question, but you know what, in his own way he's also a nationalist because he loves our country".

Administration big guns Commerce Secretary Wilbur Ross and Treasury Secretary Steve Mnuchin rushed to the cameras to calm market jitters over proposed steel and aluminium duties, which they indicated were still negotiable and would not hurt growth.

Trump is expected to make an announcement Thursday on the administration's stance on the potential tariffs on aluminum and steel.

President Trump ribbed Gary Cohn in a cabinet meeting Thursday as his economic adviser gets set to leave his post at the White House.

But imposing broad tariffs on steel and aluminum imports had the odd effect of hurting producers in friendly countries the most, since China is not a major exporter of steel and aluminum to the United States, compared with Canada, South Korea, Brazil and Mexico.

But Wall Street has been appalled with Trump tariff plans, hastily announced last week without full details and prompting worries of a trade war that could undermine the benefits of the tax cut. Jeff Merkley said Trump's plans "seem to be more about creating a talking point for the President than putting in place a thought-out strategy to grow American jobs and the American economy". So initially, what was meant to be an hour-long meeting ended after about forty-five minutes, and Chung Eui-yong and Suh Hoon headed to the Oval Office to meet with President Trump at 4:15.

Colombians vote in elections seen as test for peace deal
The Farc performed poorly, in line with expectations - but is guaranteed some seats by the peace agreement. Duque and Petro are not the only candidates running for the presidency.

Comerica Bank Grows Stake in Wynn Resorts, Limited (NASDAQ:WYNN)
It increased, as 44 investors sold HUM shares while 184 reduced holdings. 34 funds opened positions while 76 raised stakes. The casino operator reported $1.40 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.33 by $0.07.

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Chairman of the Senate Finance Committee Orrin Hatch, a Republican from Utah, has expressed his opposition to the Trump tariffs.

Kim joked he "knows how the world sees him" and said, "he understands the challenges" faced by the South Korean officials.

Cohn was labeled as a "globalist" by more conservative members of the Trump administration. More than one in three top White House officials resigned by the end of Mr. Trump's first year.

The director of the National Economic Council had been the leading internal opponent to Trump's planned tariffs on imports of steel and aluminum.

"The President has an obligation to uphold fair trade policies, but threatening trade wars against our allies is risky, short-sighted, and will make it harder for US businesses to compete overseas", she said. He has tried to use the tariffs as leverage in ongoing talks to renegotiate NAFTA, suggesting Canada and Mexico might be exempted from tariffs if they offer more favorable terms under the trade agreement.

"Peter speaks the same language as Trump does on these issues", said Stephen Moore, a former Trump campaign adviser who is now a visiting fellow at The Heritage Foundation. He has professed views that go further even than academic peers who see China's emergence in the global economy as hurting many US workers.

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