Axios: Gary Cohn and Steve Mnuchin Are Blocking America First Trade Reform

Isn’t this just perfect?

So, it turns out President Trump is serious about the MAGA trade agenda. He wasn’t kidding about that. He keeps wanting to impose “massive tariffs against entire countries, industries and product categories,” but Steve Mnuchin and Gary Cohn are defending the status quo:

“Gary Cohn and Steven Mnuchin successfully kept President Trump from making any disruptive trade actions during the tax reform fight. Now that tax reform is done — and Trump remains hell-bent on tariffs — they’re making new arguments to try to mellow his hardwired trade-warrior impulses.

Cohn and Mnuchin are now appealing to Trump’s obsession with the record-breaking run of the stock market under his presidency, according to four sources with direct knowledge.

They’re telling him the stock market is at an all-time high, and that new tariffs on whole industries like steel and aluminum would hurt it.

They’re also telling him — and others are joining them in making this argument directly to the president — that he’s just given the middle class a tax cut, and that any tariffs making consumer goods more expensive would undo the pay raise he just gave them.

Why this matters: Sources who’ve spoken with the president say he’s often said he wants to slap massive tariffs against entire countries, industries and product categories. They worry that doing so would roil global markets, start a costly trade war, and harm America’s relationships with allies….”

BTW, it was also Steve Mnuchin who helped save the carried interest loophole.

Wall Street won’t like tariffs on Chinese steel, Dahnald. The middle class won’t like more expensive products at Walmart, Dahnald. You need to keep that carried interest loophole, Dahnald. You need to denounce those Nahtzis who marched in Charlottesville, Dahnald.

I said from the beginning that Gary Cohn was going to be a disaster. At the same time, I said that Peter Navarro and Robert Lighthizer were good picks and would be a good team. A year later, I was right on both counts as Navarro and Lighthizer have lined up against Cohn and Mnuchin. Navarro has been sidelined in the White House and put under Gary Cohn’s NEC.

To whom do we owe the misfortune of Gary Cohn?

“The timing was perfect for Jared Kushner, Trump’s son-in-law, to pounce. He approached Cohn, supposedly at the suggestion of mutual friends. “Jared Kushner has always been a little starstruck with Goldman Sachs people,” says a former Goldman partner who knows him well. “He’s always liked that sort of promotional edginess that Goldman Sachs has had, and he’s always liked the reputation that Goldman Sachs has the best people, quote unquote, the smartest, savviest people. The idea, by the way, that Jared was suddenly in a position where he actually had the power to call on and hire and lure a number of people like that to the bench side, if you will, was a very, very intoxicating, enticing, and really kind of exciting thing to him,” the former partner continues. “This was an incredibly sort of convenient and opportune kind of thing that came along for Gary because—whether he was going to Washington or not—Gary was out.”

I’m going to go out on a limb here and suggest that Jared Kushner was probably also behind the Shlomo Rubashkin decision. He is the common thread that runs through all bad decisions. These MAGA people think the Alt-Right dwells too much on the Jews. The opposite is true. There isn’t enough focus on how Jewish power and influence has subverted the Trump White House.

Note: Steve Bannon is right about one thing. January is going to be a do-or-die moment for the Trump White House on DACA, the border wall and trade.

About Hunter Wallace 12367 Articles
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  1. I’ve always held the view that we need tariffs of about 70% against countries like China and Thailand-who have cheap wages, production costs and substandard safety, and tariffs of about 10% against nations with similar costings and standards to us who play fairly.
    Offshoring occurs because unions have made us too expensive to employ, whilst the Asians are too cheap. Combine this with low/no tarrifs imposed on Asian goods and you have a recipe for massive job losses. High wages and low tarrifs just don’t mix.
    Our useless leaders should be on top of all this but they either haven’t got a clue or don’t care.

    • Offshoring began after Berlin wall fell, opening up former communist labor to be “capitalized.”. Finance capitalism then used various techniques to offshore american industry. Greenmailing was one technique, where American captains of industry were told by finance to relocate, or they would be bought out. Green-mailing entails using target companies own assets – for example, pension funds to buy them out, or make them move. Offshoring is to take wage arbitrage, the difference between American and Chinese wages.

      America’s patrimony (bequeathed by our ancestors) was sold to make wage arbitrage (today) to then screw the (future). A hostile finance elite doesn’t give a damn about America’s patrimony or its future, only what they can harvest today, and remain in control as a parasite.

      Of course, finance capitalism is an invention of our ((friends)) to then make their finance capital the currency of the worldwide realm.

      Classical economy used tariffs to allow nascent industries to form. Established economies that form monopolies, or “trusts” which drive up prices, SHOULD have tariffs lowered to target those monopolist industries. Foreign competition then dissipates local monopolists helping to lower prices. So, tariffs depend on situation, but Congress Critters are not able to understand nuance of this type. Their lawyer background makes them easy to buy off (it’s ok to take Fees – really bribes), and they look backward at English law, which in turn upholds Capital over Labor. A jewish lawyer is a double whammy of negative behavior.

      Hudson’s book, America’s protectionist takeoff, explains how America got rich behind tariff walls. American labor was multiplied through machine power, good education, healthy food/water/environment, to then beat out “coolie” labor.

      Now, coolies are using the original “American System” while America is devolving to become coolie labor. Very few American corporations re-invest in new plant/equipment for productivity, but instead are borrowing bank credit to buy up stock, to then push stock options and stock prices in a pure financialized false economy scheme.

      A good way to avoid tariff battles with foreign economies, would have a new Bretton Woods, and adopt Keynes Bancor system. Then, international trade is forced to balance, and finance is cut out of taking rents on goods transfer between nations. Also, a bancor system forces mercantilists like China, to vector their surplus won in imbalanced trade, to BUY GOODS from U.S. mainstreet labor instead of buying debt instruments from finance predators. China bought TBill/Bonds (debt) from America rather than buying goods, hence the trade deficit.

      Our ((friends)) take usury through various rent schemes related to finance, so that is both their strength and weakness. Our leaders are useless because they are puppet lawyers on strings, doing the bidding of their corporate and finance masters. Being both compromised and paid off is powerful inducement to capitulate and become a shabbos goy.

      The money system has to be addressed, so parasites like Gary Cohn and Steve Mnuchin can never grab levers of power.

  2. There isn’t enough focus on how Jewish power and influence has subverted the Trump White House.

    Well, except for those non-Drumpfters like me, who, with discernment as clear as running away from a charging lion, I saw Trump’s jew ass-kissing all along. I knew from Aug 2015 that he would be the most jewy POTUS we would ever have (until they sElect an actual jew).

    Only the undiscerning or blatantly ignorant wishers couldn’t see that this was what was in store for us.

    It WAS that obvious all along and I kept nailing it home as much as I could.

    And now what?

    We will wait until the next jew loving savior comes along and tickles an ear with walls and other such bullshit.

    Carry on, Drumpfters!

      • I would be successful, too, if I had the jew money bailing me out of every fuckup.

        I guess it depends on the amount of jew control you mean when you say “success”.

  3. Judge a man by the company he keeps. Congress bipartisan kosher approved administrations, Steve Bannon and Flynn giving the boot ,nip in the bud.

  4. Promises the president campaign for to reverse policies. the unelected advisors remain the course of Titanic.Well,if it’s not backed by force the wall street parasites always get their ways.

  5. Too many people on either side of the conventional political aisle tend to think that the other side is filled with anti Semites. So the Obama haters thought he was anti Israel. The Trump haters tend to think that Trump has made anti Semitic messages or surrounded himself with anti Semites. In reality, both administrations, and the two before them, were filled with Jews.

    • How George Carlin put it: Forget about the politicians. They’re there to make you think you have a choice. You don’t. It’s a big club and you ain’t in it.

      Happy New Year to all just the same.

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