President Trump living up to his series of top replacements in White House has replaced Gary Cohn as the new Top Economic Advisor. White House has confirmed that Kudlow has been offered the position of Assistant to the President on Economic Policy and as Director of National Economic Council. Kudlow has accepted the position.
Gary Cohn resigned after his disagreements on the new steel and aluminium tariffs imposed by Trump lately. Larry Kudlow is a known media figure as he is a CNBC contributor. He has also been working with the Federal Reserve and also in Reagon administration as a budget aide. It is learnt that he was also an informal advisor in the Trump campaign and had been instrumental in framing a preliminary tax plan before elections and also was a loud advocate of GOP tax law. He has always urged the administration to be more cautious about the widening budget deficit and has been in favour of tax cuts and deregulation. Trump described him as a person with exceptional financial expertise.
Although Kudlow was also against the tariffs as Cohn initially but he has adjusted to the fact that they are a potent negotiating tactic and later warmed his stance. He has however always supported tariffs on China as he looks at latter as a major problem for the US.
CNBC Chairman, Mark Hoffman praised Kudlow stating, “Larry is a thoughtful, tenacious and gracious gentleman who possesses an encyclopaedic knowledge of markets, economics and public policy. He has the ability to make the most complex concepts comprehensible and accessible”.
Other notable counterparts of Kudlow will include Steven Mnuchin who is the Treasury Secretary, Peter Navarro White House trade advisor and Wilbur Ross Secretary of Commerce Department.