Mark Landler writes in the New York Times that President Trump’s latest trade initiatives mark a return to the populist policies of the campaign and a victory for Steve Bannon and the economic nationalist wing of the Trump administration.
From the New York Times:
From Mr. Trump’s “buy American, hire American” rallying cry in Wisconsin this week to Vice President Mike Pence’s warnings to Japan and South Korea about the need to rewrite trade deals, the Trump administration is moving against free trade on multiple fronts. A senior White House official said there would be two trade-related events a week for the next few weeks.
“He’s manically focused on these trade issues,” said Stephen K. Bannon, the president’s chief strategist.
The flurry of activity amounts to a comeback by nationalists like Mr. Bannon, who views trade as crucial to Mr. Trump’s populist appeal but whose star has dimmed after clashes with globalist-minded aides like Jared Kushner, Mr. Trump’s son-in-law, and Gary D. Cohn, the former Goldman Sachs banker and lifelong Democrat who is head of the National Economic Council.
The outcome of the debate between nationalists and globalists remains far from settled. Last week the globalists appeared to be winning when the administration decided not to formally designate China a currency manipulator, despite Mr. Trump’s vow to do so during the campaign. Mr. Trump also offered President Xi Jinping of China other concessions on his trade agenda in return for China’s help in curbing North Korea’s nuclear program.
Read the rest here.