Gary Cohn’s A ‘Globalist,’ But I Still Like Him


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

When he described Cohn as a globalist Trump drew a smiles from cabinet members around the table, including Cohn himself who was sitting behind the president. Trump didn’t back down and is set to sign the tariffs into law on Thursday.

Trump’s chief economic adviser Gary Cohn – a fervent supporter of free trade – resigned earlier this week after Trump announced his tariffs.

Levitt said that if Democrats are able to win a majority in at least one branch of Congress, it could reduce uncertainty by checking Trump’s attempts to implement protectionist policies.

Daniel Pinto, a co-president at JPMorgan Chase & Co., said in an interview with Bloomberg on Thursday that USA equities could fall by between 20 and 40% over the next three years if a global trade war breaks out.

“We’re comfortable that we’re going to manage through this so that it is not detrimental to our growth projections”, he told Fox Business. Cohn previously indicated that he might resign if Trump followed through with the tariffs. Still, many European officials argue the American national security case is so flimsy – just 3 percent of USA aluminum and steel production goes to military purposes- that it still violates WTO rules. The order leaves out Canada and Mexico but applies to every other nation, according to the White House.

Liddell was born in Matamata and was chairman of Xero before he joined the Trump administration.

The World Trade Organization, the Geneva-based institution that rules on trade disputes, gives countries wide leeway to determine their national security interests. There’s no question. In his own way, but you know what, he’s a nationalist. The European Union and other allies are targeting items that include orange juice from Florida, motorcycles from Wisconsin, and tobacco from North Carolina, all of which are politically important states.

Liddell told Stuff he did not have any comment on the newspaper report.

Speaking with reporters little more than a hour before news of Cohn’s departure surfaced, Trump said that “I like conflict” and “I like having two people with different points of view, and I certainly have that”.

Critics say Trump has undercut his own justification for the tariffs by linking them to NAFTA. “He’s as likely to abandon Wilbur Ross and Peter Navarro in the future as he is to embrace them permanently”.

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