Trump Picks Larry Kudlow to Succeed Cohn as Top Economic Adviser

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Trump tweeted on Thursday morning that with Kudlow in his administration, "Our country will have many years of Great Economic & Financial Success, with low taxes, unparalleled innovation, fair trade and an ever expanding labor force leading the way!"

Kudlow, a Republican who served as an economic adviser to former President Ronald Reagan in the 1980s and also worked on Wall Street, is an ardent advocate of "supply side" economic policies that focus on cutting taxes and reducing regulations.

Trump announced the tariffs on the grounds of national security and said he would be open to hearing offers from trading partners that could address USA security interests in lieu of the duties.

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Kudlow, 70, has informally advised the Trump administration in the past and he has spoken with the president "at some length in recent days", so he is ready "to hit the ground running".

But television news personality has been outspoken in opposition to the tariff plan and wrote an op-ed for CNBC earlier this month that detailed his disagreements.

Mr Kudlow, an informal adviser to Mr Trump's 2016 presidential campaign, had also criticised the President's decision, saying tariffs would harm steel-consuming producers.

Conservative commentator and economic analyst Larry Kudlow speaks on the set of CNBC on March 8, 2018 in NY.

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"Im looking at Larry Kudlow very strongly".

"China has not played by the rules for a long time".

That's why Wall Street will take a wait-and-see approach to find out how much influence the incoming Kudlow really has on policy. We dont agree on everything but in this case I think thats good.

"This will be the challenge for Larry Kudlow, because in the position he's in now, he has to stand there and represent real data", Ruhle said.

The NEC director can have wide influence over the president on a variety of issues from steering economic policy to offering guidance on whom to choose for open positions at the U.S. Federal Reserve.

QUOTEWORTHY: Kudlow's appointment "interestingly had not been significantly well-received by the market", said Jingyi Pan, market strategist at IG in Singapore.

Democratic Congresswoman Ted W Lieu was less enthused by Kudlows appointment, saying she was "appalled" that the person who will now drive the United States economic policy has argued that war is good for business. "In an administration that has already been fraught with disastrous policy decisions, I worry about someone who thinks this way having the presidents ear", said Lieu. "Mr. Kudlows fringe ideas dont deserve a place in the White House", she said.

This is unedited, unformatted feed from the Press Trust of India wire.

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