Politics: Trump Reversals Hint at Populists’ Diminished Sway on Economy - - PressFrom - US
  •   
  •   
  •   

Politics Trump Reversals Hint at Populists’ Diminished Sway on Economy

06:30  13 april  2017
06:30  13 april  2017 Source:   nytimes.com

Marshawn Lynch's store drops a major hint that he'll play for the Raiders

  Marshawn Lynch's store drops a major hint that he'll play for the Raiders Beast Mode Online got a very interesting update that fuels speculation about his return. Now, this doesn’t definitively mean Lynch is returning to the Raiders. It could just be that he’s supporting his hometown of Oakland. There’s almost no chance that’s the case, though.THERE’S A SHIRT THAT SAYS “BEAST MODE OAKLAND” ON IT!Take this with a grain of salt if you wish, but with Lynch reportedly telling the Raiders he plans to unretire, a return to the NFL with his hometown team seems inevitable.

During the campaign, Mr. Trump sided with conservatives who wanted to eliminate it because the government should not finance large corporations and effectively pick winners and losers in a free-market economy . Trump Reversals Hint at Wall Street Wing’ s Sway in White House.

Larry Kudlow, the economist who advised Mr. Trump when he was a candidate, panned Mr. Trump ’ s reciprocal tax idea as a nonsensical approach that would essentially raise taxes. He suggested that the scattershot approach to economic policy coming from the White House was probably because of

President Trump said he no longer wanted to label China a currency manipulator. © Associated Press President Trump said he no longer wanted to label China a currency manipulator.

WASHINGTON — President Trump made three startling economic policy reversals on Wednesday, stepping away from pledges he made as a candidate and even policies he supported only days ago.

The shifts confounded many of Mr. Trump’s ardent supporters and suggest that the moderate financiers he brought from Wall Street are eclipsing the White House populist wing led by Stephen K. Bannon, the political strategist who is increasingly being sidelined by the president.

Sign Up For the Morning Briefing Newsletter

Trump says 'we are keeping our promises' after several major policy reversals

  Trump says 'we are keeping our promises' after several major policy reversals President Trump touted his administration's commitment to fulfilling his campaign-trail promises Wednesday, even after public remarks and interviews that day showed him reversing course on several major points. One by oneOne by one we are keeping our promises - on the border, on energy, on jobs, on regulations.

up next: now reading: Trump Loyalists Fume as WH Sway Diminishes . President Trump ’ s desire to surround himself with proven loyalists is now colliding with the stark realities of the presidency and governing, and some of his longtime allies fear that their influence inside the administration is sliding

Donald Trump slapped tariffs on China, then reconsidered. He yanked the U. S . from the Iran nuclear deal without a plan B. He ordered U. S . penalties on ZTE Corp. reversed to save Chinese jobs. It doesn’t make the allies happy. It diminishes their trust of what the U. S . government is going to do.

In a series of interviews, Mr. Trump unabashedly backtracked from the promises of his campaign. Mr. Trump said he no longer wanted to label China a currency manipulator — a week after telling The Financial Times that the Chinese are the “world champions” when it comes to currency manipulation. The about-face came less than a week after meeting with China’s president, Xi Jinping.

In an interview with The Wall Street Journal, the president also said he no longer wanted to eliminate the Export-Import Bank.

He said that he might consider reappointing Janet Yellen as chairwoman of the Federal Reserve when her term ends next year.

All of this is a striking departure from Mr. Trump on the campaign trail, where he regularly denounced China and said that Ms. Yellen should be “ashamed” of herself because of what he said was her political bias.

Spicer defends Trump flips

  Spicer defends Trump flips White House press secretary Sean Spicer defended President Trump's reversals on key policies over the past few days, arguing that actors are falling in line with Trump's policy positions and not the other way around. On Wednesday, Trump backtracked on previous comments about labeling China as a currency manipulator, his criticism of Federal Reserve Chairwoman Janet Yellen, his opposition to the Export-Import Bank and his labeling of NATO as "obsolete.

Donald Trump and Bernie Sanders share an upbringing in New York’ s outer boroughs and a repugnance for trade deals, but the similarities pretty much end there. Sanders routinely inveighs against “ corporate America ”; Trump is an executive of almost 500 business entities

Is Donald Trump a populist ? Something fundamental in Trump ’ s approach to politics changed According to Norris, who labels Trump a “ populist -authoritarian,” nativist nationalism dwells on But increasingly, they have offered the same programs and thus a diminishing arena of political choice.

Mr. Trump’s reversals suggest he is moving toward a more mainstream economic approach from the populist arguments he advanced before the election. Although in other issues that he spoke about on Wednesday, like tax reform and health care, his policy and strategy appeared muddled.

For his part, Mr. Trump asserted in a Twitter post on Wednesday night that his agenda remained on track.

“One by one, we are keeping our promises — on the border, on energy, on jobs, on regulations. Big changes are happening.”

Mr. Trump began the day with an interview with Fox Business Network in which he backed away from the so-called border-adjustment tax favored by Speaker Paul D. Ryan and House Republicans.

He also backtracked on his claim last month that he was moving on from his plan to repeal the Affordable Care Act to focus on taxes. Now he is again putting health care first.

In an interview published by The Journal midday, Mr. Trump revealed his softer approach to China and made another reversal on health care.

Is this a new Trump? Abrupt reversals may reflect experience

  Is this a new Trump? Abrupt reversals may reflect experience President Donald Trump is abruptly reversing himself on key issues. And for all his usual bluster, he's startlingly candid about the reason: He's just now really learning about some of them."After listening for 10 minutes, I realized it's not so easy," the president said after a discussion with Chinese President Xi Jinping that included his hopes that China's pressure could steer North Korea away from its nuclear efforts."I felt pretty strongly that they had a tremendous power" over North Korea, he said in an interview with The Wall Street Journal. "But it's not what you would think.

Trump ’ s Populist Manifesto. A call to reform government, but perhaps not limit it. Mr. Trump won the Presidency as an outsider who defied campaign norms, but with his stern countenance even he seemed sobered by America’ s grandest democratic

Последние твиты от Donald J. Trump (@realDonaldTrump). 45th President of the United States of America🇺🇸. Iran cannot have Nuclear Weapons! Under the terrible Obama plan, they would have been on their way to Nuclear in a short number of years, and existing verification is not acceptable.

He said that the government would not continue to pay subsidies to health insurers under Obamacare only days after the administration said it would.

Mr. Trump said the threat to withhold subsidies was a way to force Democrats to negotiate with him over the future of the Affordable Care Act.

In the Journal interview, Mr. Trump said that “Democrats will start calling me and negotiating” because they want to avoid any interruption of the “cost-sharing” subsidies, which reduce out-of-pocket costs for seven million low-income people.

On Monday, the Department of Health and Human Services had issued a statement saying that “the cost-sharing subsidies will be funded” while a federal appeals court weighed the legality of the payments.

Mr. Trump’s remarks coincided with a letter in which doctors, hospitals, insurance companies and employers pleaded with him and with Congress to help stabilize insurance markets by authorizing a continuation of the subsidies.

“Time is short and action is needed,” said the letter, sent Wednesday by eight groups including the United States Chamber of Commerce, the Blue Cross and Blue Shield Association, America’s Health Insurance Plans, the American Medical Association and the American Hospital Association.

Rescuers pluck 24 passengers from stuck roller coaster

  Rescuers pluck 24 passengers from stuck roller coaster BALTIMORE — An amusement park roller coaster featuring a "cobra roll," ''sidewinder loop," and "countless swift reversals" stalled Thursday evening outside of Washington, D.C., leaving 24 riders stuck 100 feet (30 meters) up in the air.Prince George's County Fire/EMS spokesman Mark Brady said on his Twitter account that the riders came to a standstill around 5:30 p.m. at Six Flags America in Largo, Maryland.The Berwyn Heights volunteer fire department said in a tweet that the cars of Joker's Jinx were 100 feet (30 meters) off the ground. Helicopter video from WJLA-TV showed six cars.

Part of the surprise at Trump ’ s populist turn this year is that so much is going right in the U. S . economy . Chad Moutray, chief economist at the National Association of Manufacturers, credits tax cuts, regulatory reform and the rebounding global economy for the latest jump in manufacturing jobs.

World leaders react to the announcement of Donald Trump as the 45th president of the United States. Time.

The president’s comments on Wednesday recalled his reaction when Republican leaders pulled a bill to repeal President Barack Obama’s health care law from the House floor last month.

Mr. Trump predicted then that “Democrats will come to us” in an effort to save the law, which he said was imploding. They did not.

To make the muddy waters even murkier, Mr. Trump took his plans to rewrite the tax code into unchartered territory when he threw cold water on the border adjustment tax that is the linchpin of the tax reform plan.

After months of waffling on that tax, he instead called for a new “reciprocal tax” that appears to be a different kind of levy on imports.

“I don’t like the word adjustment, because our country gets taken advantage of, to use a nice term, by every other country in the world,” Mr. Trump said in the Fox Business interview. “So when I hear border adjustment, adjustment means we lose.”

He added: “I love the idea of reciprocal. You can call it a reciprocal or a matching tax or a mirror tax.”

The notion left tax experts scratching their heads. “I’m genuinely confused,” said Itai Grinberg, a tax expert at Georgetown University’s law school.

“If one imposes a tax that varies based on the country of origin of the good or service, then what one may in substance have is something akin to a country-specific tariff regime.”

McConnell: Trump 'learning the job'

  McConnell: Trump 'learning the job' Senate Majority Leader Mitch McConnell (R-Ky.) is defending President Trump's decision to break with some of his campaign rhetoric and reverse a string of policy positions."I think he's learning the job. I think President Trump is learning the job and some of the things that were said during the campaign I think he now knows that's simply not the way things ought to be," McConnell told Newsmax TV.

President Trump delivered an address to the nation on Tuesday night from the Oval Office to make a broad-based public push for border wall funding. After his speech, Speaker Nancy Pelosi of California and Senator Chuck Schumer of New York, the Democratic leaders

Europe and centre left everywhere need tougher approach to phenomenon that fuelled Trump and Brexit, says Clinton.

What is clear is that all of the uncertainty surrounding the White House’s economic plans is causing frustration among some of Mr. Trump’s supporters, including those who helped get him elected.

Larry Kudlow, the economist who advised Mr. Trump when he was a candidate, panned Mr. Trump’s reciprocal tax idea as a nonsensical approach that would essentially raise taxes.

He suggested that the scattershot approach to economic policy coming from the White House was likely because of poor leadership at the National Economic Council, which is led by Gary Cohn, and the diminished role of the Treasury Department, which is steered by Secretary Steven Mnuchin.

“It’s complete chaos,” Mr. Kudlow said. “It sows confusion and people lose confidence. The process is broken.”

Last Friday, Mr. Trump named Kevin Hassett, a conservative pro-immigration economist, to lead his Council of Economic Advisers. Ardent supporters worried it was an abandonment of the tough stance he took on the issue during the campaign.

Mr. Trump shared few details about how a reciprocal tax would work. It is unclear if, in his thinking, the United States would match tariffs that countries levy on certain American products against other products that those countries produce or if he wants to effectively have a value-added tax with different rates for goods and services from each country.

Either way, economists warned economic effects could be calamitous.

“Any economist will tell you that tariffs are often, if not always self-defeating,” said Michael J. Graetz, a tax law professor at Columbia University. “It doesn’t appear to be a sound idea as a matter of tax policy.” Howard Gleckman, a fellow at the Tax Policy Center, said, “It looks like Trump is not happy with the border adjustment tax idea for whatever reason and he’s looking for an alternative.”

With more changes apparently in store, Mr. Trump’s budget director, Mick Mulvaney, added an additional major reversal on his behalf: He said on CNBC on Wednesday that the president’s campaign promise to eliminate the national debt was “hyperbole.”

Get politics and Washington news updates via Facebook, Twitter and in the Morning Briefing newsletter.

Trump's approval rating, the worst in recent history, is starting to climb back up .
Win McNamee/Getty ImagesPresident Donald Trump's approval rating, the worst for a US commander-in-chief in recent history over the first quarter of his presidency, has begun slowly climbing back up. Gallup's daily presidentialPresident Donald Trump's approval rating, the worst for a US commander-in-chief in recent history over the first quarter of his presidency, has begun slowly climbing back up.

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!