- March 22, 2019
- Posted by: Trading
- Category: News
President Donald Trump said Friday he’ll nominate his former campaign adviser Stephen Moore for the Federal Reserve’s Board of Governors, as he criticized the central bank for what he said was holding back economic growth.
Trump told reporters after disembarking from Air Force One in Florida that he’d nominate Moore for one of two vacancies on the seven-member Fed board. Moore last week wrote an op-ed for The Wall Street Journal in which he criticized Fed Chairman Jerome Powell’s policies.
As the field of Democrats vying to challenge Trump in 2020 has firmed up, the president has renewed an attack on the Fed. In an interview with Fox Business News, Trump said if it were not for the decisions of Powell and his colleagues, the U.S. would have expanded above a 4% annual rate last year.
In the interview that aired Friday on Fox Business, Trump discussed the possibility of tariffs on imports from Europe.
“We get a 25% tariff on that segment,” Trump said, referring to imported European light trucks. He told host Maria Bartiromo “we will absolutely be able to keep it,” but also said “I’ll tell you what the end game is. They’ll build their plants in the United States and they have no tariffs.”
Trump also said he wouldn’t agree to zero tariffs for imports of European cars. “The problem is that the Chevrolet will never be accepted in Europe like the Mercedes is accepted here, so it’s not a good deal,” he said, referring to units of General Motors
The EU applies a 10% tariff on American-made cars. The U.S. only charges a 2.5% tariff. The U.S. has a much higher 25% tariff on foreign-made SUVs and light trucks, the sweet spot in the American auto market. By contrast, the EU charges 10%.
Before departing for a meeting with Caribbean leaders at his Mar-a-Lago resort in Florida, Trump said he knew “nothing” about Kushner’s use of encrypted apps to communicate with foreign officials. “I know nothing about it. I’ve never heard of that,” Trump told reporters.
On Thursday, House Oversight Committee Chairman Elijah Cummings said Trump’s daughter Ivanka and Kushner used private messaging services for official White House business in a way that may have broken federal records laws. Both Ivanka Trump and Kushner are senior White House advisers.
MUELLER REPORT AND 2020 DEMOCRATS ON ISRAEL
The president also said he had “no idea” about the timing of Special Counsel Robert Mueller’s report about Russian interference in the presidential election. The special counsel is reportedly nearing the end of his probe.
Asked about several 2020 Democratic presidential candidates skipping the annual conference of the American Israel Public Affairs Committee, Trump said “I don’t know what happened to them but they are anti-Israel. Frankly I think they are anti-Jewish.”
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