Excerpt from the Wall Street Journal:
Contrary to claims coming from some trade hawks, America’s large and persistent trade deficit is not caused primarily by bad trade deals. The U.S. dollar’s status as the global reserve currency is at least as responsible as any free-trade agreement or unfair practices. High demand for dollars has tilted the playing field against American exporters and workers. Those arguing against tariffs—including Republicans courting blue-collar voters in the industrial Midwest—should be leading the charge for international monetary reform.
Larry Kudlow will be the next director of the National Economic Council, succeeding Gary Cohn as President Donald Trump’s top economic adviser, a person close to the matter said.
Trump offered the job to Kudlow, an economic analyst and television personality, over the phone Tuesday night while Kudlow was at dinner in Manhattan, and he accepted, the person said.
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