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Battle Brewing for Soul of American Economy: Team Trump Girding for Fight with Globalists, Corporatists Over Bringing Jobs Back
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The picture posted next to Trump is quite an interesting pic.
Less than 50%
President-elect Donald J. Trump’s incoming administration is girding for battle with corporatists, globalists, and special business interests over his core policy objective of bringing U.S. manufacturing jobs that have been shipped overseas back to the United States, several senior advisers to Trump tell Breitbart News.
“There is a big fight brewing over control of the American economy’s direction,” one of three senior advisers to the president-elect with intimate knowledge of the looming fight told Breitbart News. “Globalists, Wall Street fat cats and corporatists are fighting against President-elect Trump’s core message of returning the United States back to a major manufacturing power on the world stage. Nationalists, on the other hand, want to return power and wealth back to the people in the middle and working class in America.”
The senior incoming administration sources expect this fight to play out on three major policy fronts: trade, infrastructure, and taxes and the budget. Globalist elitists want Trump policies on these fronts to benefit the upper corporate echelon, whereas the nationalist populists would rather the focus be on benefits to the middle and working classes. Those same upper corporate echelon elites have shipped jobs overseas thanks to weak U.S. trade deals, then reaped the benefits of government connections for major contracts for U.S. projects—all while being sheltered by tax code proposals from career politicians that reward the wealthiest in society without much regard for the average American worker or family. Nationalist populists want to restore the balance in that equation by making sure that average American workers—not corporatist elites—have a job so they can feed their families and reap the majority of benefits from the tax code and from infrastructure projects.
While the specifics are still being hammered out, one of the first battles on which this war will likely play itself out is with regard to tariffs on imported foreign-made goods. Some proposals like a possible 10 percent tariff—or a lower five percent tariff—on all imported goods are being discussed internally, according to a recent CNN report, but senior sources say the specifics aren’t yet finalized.
CNN’s John King and Jeremy Diamond reported this week:
President-elect Donald Trump’s transition team is discussing a proposal to impose tariffs as high as 10% on imports, according to multiple sources. A senior Trump transition official said Thursday the team is mulling up to a 10% tariff aimed at spurring US manufacturing, which could be implemented via executive action or as part of a sweeping tax reform package they would push through Congress. Incoming White House Chief of Staff Reince Priebus floated a 5% tariff on imports in meetings with key Washington players last week, according to two sources who represent business interests in Washington. But the senior transition official who spoke to CNN Thursday on the condition of anonymity said the higher figure is now in play.
The CNN report argues that such moves by the Trump administration may create a “trade war” with international powerhouses like China. China is one nation that has particularly benefitted from the drain on American manufacturing and other U.S. industry, like steel production, over bad trade deals.
“Such a move would deliver on Trump’s ‘America First’ campaign theme, but risks drawing the U.S. into a trade war with other countries and driving up the cost of consumer goods in the U.S.,” CNN’s King and Diamond wrote. “And it’s causing alarm among business interests and the pro-trade Republican establishment.”
But senior Trump advisers, like billionaire investor Carl Icahn—who is now officially a Trump adviser—say that a “trade war,” as critics say, is already looming and there’s nothing anyone can do to stop it. So instead, he argues, the United States may want to just power through it, fight the war, and win it while it can still set the terms of such a battle.
“If you get into a trade war with China, sooner or later we’ll have to come to grips with that,” Icahn said on CNBC, an interview highlighted by Business Insider. “I remember the day something like that would really knock the hell out of the market.”
But, he added: “But maybe if you’re going to do it, you should get it over with, right?”
[link to www.breitbart.com]
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