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China Tariffs: Aides turned to Christmas Cheer to delay Trump



It was a tactic that proved its worth: Trump announced that tariffs would be postponed until 15 December.

It was a backlash in an exhausting trade war on which Trump insists that the Americans will benefit at some point – and China will demonstrate its harshness. And while it helped boost markets on Tuesday, profits were eliminated a day later amid renewed fears of an impending recession.

He relies on a team that is often in conflict with each other and has changed several times in the past for several months. Trump is today less and less surrounded by those who led the economic policy of his government in the first two and a half years, when concerns about a recession in the West Wing increased.

  Here are five risks to the US economy. [1<div class="e3lan e3lan-in-post1"><script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>
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Trump and his campaign rely on a robust economy to re-elect him. The voters who approve of Trump's performance in office say the # 1 reason for the economy.

With re-election in mind, Trump bragged about the recent performance of the stock market during a New Hampshire election rally Thursday night, where he claimed that even Americans who did not like him had "no choice but to vote for him," or the economy would collapse.

"You have no choice but to vote for me because your 401 (k)" Everything is going to shit, "he told the crowd." Whether you love or hate me, you have to vote for me.

Developing Business Team

The importance of the economy for its political future has long been a fundamental theme of Trump's conversations with his team, people familiar with the talks said, though the composition of this one Teams are changing over time.

His chief economist Larry Kudlow, who is approaching office for two years, is expected to leave in the coming months, with top economist Kevin Hassett promising to be "a resource … from outside." According to officials, he investigates complaints from aides about Commerce Secretary Wilbur Ross.

Trump even attacked one of his most loyal Cabinet secretaries, Treasury Secretary Steven Mnuchin, for stalling trade talks with China n, said the officials. Mnuchin has to deal with its own exodus in the Ministry of Finance, with several top aides have left in recent months.

Since then, Trump has turned to other hardline aides, as z goes on to China and assures him that there will be an economic recovery.

  Trump feels & # 39; very good & # 39; on the donation of second-quarter salary to Surgeon General's office

Trump showed an affinity to aides who considered the political implications of economic decisions rather than informed economics. He is also annoyed by briefings when the discussion becomes too technical or in the weed.

Mnuchin, who led the financial operation for Trump's campaign, remains in the opinion of people who are familiar with the dynamics of the team, the president's closest adviser in economic matters. Trump complains about the lack of progress on Mnuchin-led trade talks.

This is partly due to his longevity in administration, people said. Trump sees his success in the private sector as implicit proof of his economic advice.

When he was looking for a replacement for Gary Cohn, his first director of the National Economic Council, he was kidnapped by Kudlow, an expert at the time he defended Trump's position on television.

Trump also praised Navarro for his sometimes combative appearances in television-defending fares, including this week.

A team that sometimes disagrees

Trump spends the week at his Bedminster golf course, but his business team is scattered elsewhere. Navarro is in Washington while Ross is in New York. Mick Mulvaney, the former head of household, now the chief of staff, joined Trump in New Jersey.

Trump's chief economic adviser, the acting council of chief economic advisor Tomas Philipson, was only a few weeks later in the top position of Hassett's departure, which often defended the government's position on television. Hassett's departure was seen as a loophole for those charged with explaining the White House's economic policies, a White House official said.

And Mnuchin worked from Washington, but remained mostly outside the public. He participated in a telephone conversation Wednesday between Trump and the CEOs of JPMorgan, Bank of America and Citigroup as markets collapsed amid recession fears.

Instead, Navarro was the one who publicly defended the government's position during the week. As a hardliner for China, he has often turned against more general economic-political views in government debates and has clashed with Mnuchin during trade talks.

On the waves, Navarro has reinforced Trump's stance that trembling is Trump's fault. The Federal Reserve, which both Trump and Navarro believe will not lower interest rates fast enough.

This view is not universally held in the West Wing, where many economic aid workers privately recognize that the ongoing trade wars are more responsible for the current economic conditions than anything else. In talks, most White House officials still cite the Fed as a factor, knowing that this is the President's view.

The White House plans to have Kudlow, Director of the National Economic Council, appear on some Sunday morning shows to further explain the administrative position. And Vice President Mike Pence will be giving a speech at the Detroit Economic Club next week, detailing the government's economic positions.

A high-ranking government official said Trump had regular contact with members of his business team – including Kudlow, Mnuchin and Trade – Representative Robert Lighthizer – from his New Jersey working week this week.

Recession fears?

While some officials described Trump shaken by the new recession fears that shook the market on Wednesday, others said he was not deeply worried that a downturn could occur over the next two years.

Instead, he focuses more on what such an economic event – or imminent – could have for his political prospects. He expressed concern that a deterioration in the trade balance could hurt the economy and limit its chances of re-election.

Although Trump's frustration in the markets was mainly directed against the Federal Reserve, the people familiar with the matter said he had also fulfilled the team's mission. So far, negotiations on a trade agreement with China have failed achieve.

One such meeting took place last week, when the new tariffs that Trump threatened to raise in China caused a stir among retailers. During the sessions, Trump's advisors warned him that the CEOs were ready to push back the tariffs, which were due to come into force in September and affect popular Christmas gifts such as cell phones and electronics.

The counselors appealed to Trump's Christmas affair, the well-known people said. Trump has boasted that he saved the festive season from a politically correct "war at Christmas".

Trump instructed his team to find a way to avoid a Christmas business backlash, and the advisers recommended postponing the charges until December 15. When the products had already been delivered to the shelves for the Christmas shopping season.

The decision to postpone new tariffs for China came from Beijing without concessions.

When Navarro spoke to Fox News on Wednesday, he called the fare back. Trump's "Christmas Gift for the Nation".

At the meeting, Trump also expressed hope that the move would spur trade talks between the US and China, which have been halting since his meeting with Xi in June, much to Trump's disappointment.

] But that does not seem to have happened. On Thursday, China threatened retaliation if the US issued new US $ 300 billion in China-made products. A statement by the Ministry of Finance did not mention the delay.

CNN's Pamela Brown contributed to this report.


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