This is a fascinating podcast:
https://ricochet.com/podcasts/whats-yuan/
It’s Larry Kudlow doing his regular gig with Tim Pawlenty, who is now the head of a major financial services association/lobbying group.
Larry, along with Steve Moore and Art Laffer, has been talking economic policy with all the GOP candidates, and apparently they’re gearing up for a chat with Trump. Larry grants that Trump seems to be talking right about lowering and simplifying taxes, but is still upset about Trump’s protectionist talk.
Then TPaw comes through with the most impassioned defense of the not only the China devaluation issue but all the other way that China cheats our companies when it does allow them to sell into China. Larry doesn’t want to hear it, but TPaw really, really gets Trump’s point across in a way I haven’t heard it expressed in pundit land.
Larry doesn't get it. Trump is using it as leverage. We run a huge trade deficit with China. They need us more than we need them. You can get a better deal with China, including opening up their markets further to our products and demanding that they shift some of their manufacturing plants to the US if we are willing to use our leverage. Trump is willing to play hardball with the Chinese and one of the weapons is tariffs.
Thank you for the link.
I think Laffer and Steve Forbes are now working with Trump on his income tax policy.
Bookmarking!