LONDON, May 11, 2017 /PRNewswire/ -- US President
Donald Trump, along with
Steve Mnuchin, the treasury
secretary and Gary Cohn, the
director of the National Economic Council, sat down with editors
from The Economist on May 4th
2017 to discuss the Trump administration's economic policy.
Mr Trump says he is for fairer US trade deals, tax reform, a
move to merit-based immigration and deregulation. At its core, Mr
Trump says of "Trumponomics": "It really has to do with
self-respect as a nation."
In a wide-ranging interview in the Oval Office, Mr Trump left no
doubt that his economic agenda was firmly rooted in his
America First economic nationalism.
He called for a "massive" renegotiation of NAFTA. But he also
showed hints of dealmaking pragmatism, and a willingness to see
government deficits soar, as the near-term price of tax cuts. This
deficit-fuelled stimulus, which Mr Trump called "priming the pump",
"is OK, because it won't increase it for long," the president said.
"What you have to do is you have to put something in before you get
something out."
In its accompanying analysis The Economist gives
Trumponomics a poor review. Describing it as "boardroom
capitalism", the cover leader argues that Mr Trump's agenda is best
seen as a set of proposals put together by businessmen courtiers
for their king rather than a coherent economic doctrine. Its goals
are internally inconsistent and it neglects the most important
challenges facing America's economy, such as how to retrain
hardworking people whose skills are becoming redundant. Even if it
produces a short-lived burst of growth, Trumponomics offers no
lasting remedy for America's economic ills. It may yet pave the way
for something worse.
"Trumponomics: What it is and why it is dangerous" is the cover
report of the May 13th edition of
The Economist. The full transcript, leader and related
stories are available online:
www.economist.com/news/leaders/21721904-impulsiveness-and-shallowness-americas-president-threaten-economy-well-rule
http://www.economist.com/Trumptranscript
http://www.economist.com/news/briefing/21721937-donald-trumps-economic-strategy-unimaginative-and-incoherent-cooking-up-economic-policy
About The Economist
(www.economist.com)
With a growing global
circulation and a reputation for insightful analysis and
perspective on every aspect of world events, The Economist
is one of the most widely recognised and well-read current affairs
publications. The paper covers politics, business, science and
technology, and books and arts, concluding each week with the
obituary. In addition to the web-only content such as blogs,
debates and audio/video programmes available at economist.com,
The Economist is available to download for reading on
Android, Blackberry PlayBook, iPhone or iPad devices. The
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Store or Google Play.
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SOURCE The Economist