INTERVIEW – STEVE MOORE – former campaign economic advisor to President Trump, economist at The Heritage Foundation and author of book “Trumponomics: Inside the America First Plan to Revive Our Economy”
- Reeling from tariff threat, Mexico begins immigration talks in Washington. MEXICO CITY (Reuters) – Fighting to stave off punitive tariffs announced by U.S. President Donald Trump, a senior Mexican delegation was set to begin high level talks on Monday in Washington, where it will be pushed to do more to hold back Central American migrants. Trump says he will apply tariffs of 5% on all Mexican goods on June 10, and increase the rate in coming months to 25% if Mexico does not substantially halt illegal immigration across the U.S.-Mexican border, which is at a decade high this year. Global equities tumbled after Trump’s unexpected threat last week against the United States biggest trade partner, as investors feared his aggressive trade diplomacy could tip the United States and other major economies into recession. With just a week until the first tariffs bite, the delegation led by Foreign Minister Marcelo Ebrard may have a hard time convincing U.S. officials that Mexico is doing enough on immigration to avoid punishment, despite having signaled in recent days it was prepared to further tighten security. The U.S.-Mexican talks begin on Monday with a meeting between Mexican Economy Secretary Graciela Marquez and U.S. Commerce Secretary Wilbur Ross. On Wednesday, Ebrard meets U.S. Secretary of State Mike Pompeo. Trump on Sunday called Mexico an “abuser” of the United States and said he wanted action, not talk. Mexico has signaled it would retaliate to the tariffs, with targets likely to include farm products on Trump supporting states.
- Kevin Hassett, President Trump’s top economist, to leave White House. Kevin Hassett, the White House’s top economist, will leave the administration, President Trump announced on Twitter late Sunday, on the eve of his trip to Europe. Hassett, 57, who has served as chairman of the Council of Economic Advisers since September 2017, is leaving as Trump confronts an increasingly hostile trade war on two fronts — with China and with Mexico, the latter of which Trump threatened with tariffs last week if it doesn’t do more to stem illegal migration. A longtime conservative economist, Hassett helped shape the 2017 Republican tax law and has been a staunch defender of the president’s policies on other issues. Historically, he has been an advocate of open trade policies, although in recent months he has been put in the position of defending Trump’s most confrontational approach.