Larry Kudlow, a well-known conservative media pundit, would be his new chief economic advisor, US President Donald Trump announced today, days after Gary Cohen resigned after losing his fight against stiff tariffs on steel and aluminum imports.
Kudlow, 70, would replace Cohen, a former Goldman Sachs executive who quit the post after his differences with Trump on imposing a 25 per cent tariff on import of steel and 10 per cent on aluminum.
"Larry Kudlow will be my Chief Economic Advisor as Director of the National Economic Council. Our Country will have many years of Great Economic & Financial Success, with low taxes, unparalleled innovation, fair trade and an ever expanding labour force leading the way!," Trump tweeted.
Kudlow, who served as Trump's informal economic adviser during the 2016 campaign, is a well-known conservative voice.
Earlier, White House Press Secretary Sarah Sanders said said that Kudlow was offered, and accepted, the position of Assistant to the President for Economic Policy and Director of the National Economic Council.
The National Economic Council director advises the US president on economic issues and works to implement policy goals.
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"We will work to have an orderly transition and will keep everyone posted on the timing of him officially assuming the role," Sanders said.
Kudlow served in the Regan administration when he helped craft the economic policy.
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.
Trump acknowledged his disagreement on tariffs with Kudlow in a conversation with reporters on Tuesday, but said he welcomed the difference of opinion.
"I'm looking at Larry Kudlow very strongly. I've known him a long time. We don't agree on everything but in this case I think that's good. I want to have a divergent opinion -- we agree on most," Trump said.
He added that Kudlow has "come around to believing in tariffs as a negotiating point."
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