ADVERTISEMENT

US Presidents reversals hint at populists' diminished sway on economy

In an interview with The Wall Street Journal, the president said he no longer wanted to eliminate the Export-Import Bank.

Chinese President Xi Jinping (right) waves to the press as he walks with US President Donald Trump at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017

The shifts confounded many of Trump’s supporters and suggested that the moderate financiers he brought from Wall Street are eclipsing the White House populist wing led by Stephen K. Bannon, the political strategist who is increasingly being sidelined by the president.

In a series of interviews, Trump said he no longer wanted to label China a currency manipulator — a week after telling the Financial Times that the Chinese were the “world champions” of currency manipulation.

And he said that he might consider reappointing Janet Yellen as chairwoman of the Federal Reserve when her term ends next year.

ADVERTISEMENT

Yet before the election, he regularly denounced China and said that Yellen should be “ashamed” of herself because of what he said was her political bias.

Trump’s latest pronouncements suggest he is moving toward a more mainstream economic approach, although on other issues that he discussed Wednesday, like a tax overhaul and health care, his policy and strategy appeared muddled.

Trump asserted in a Twitter post Wednesday night that his agenda remained on track.

“One by one, we are keeping our promises — on the border, on energy, on jobs, on regulations. Big changes are happening.”

Trump began the day with an interview with Fox Business Network in which he backed away from the so-called border-adjustment tax favored by Speaker Paul Ryan and House Republicans.

ADVERTISEMENT

He also backtracked on his claim last month that he was moving on from his plan to repeal the Affordable Care Act to focus on taxes. Now he is again putting health care first.

In an interview published by The Journal midday, Trump revealed his softer approach to China — the about-face coming less than a week after meeting with China’s president, Xi Jinping — and made another reversal on health care.

He said that the government would not continue to pay subsidies to health insurers under Obamacare only days after the administration said it would. Trump said the threat to withhold subsidies was a way to force Democrats to negotiate with him over the future of the Affordable Care Act.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

BREAKING: Delta monarch declared wanted by military surrenders to police

BREAKING: Delta monarch declared wanted by military surrenders to police

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Kaduna Gov grants scholarship to 137 rescued schoolchildren, son of late teacher

Kaduna Gov grants scholarship to 137 rescued schoolchildren, son of late teacher

Siamese twin gets married while still conjoined with her sister

Siamese twin gets married while still conjoined with her sister

LP BoT kicks out Abure despite convention victory, takes over party affairs

LP BoT kicks out Abure despite convention victory, takes over party affairs

6 Labour Party lawmakers defect to PDP in Enugu State

6 Labour Party lawmakers defect to PDP in Enugu State

Tinubu's special assistant donates food items to 1,700 residents in FCT

Tinubu's special assistant donates food items to 1,700 residents in FCT

Anambra PASAN begins strike over Soludo's failure to grant financial autonomy

Anambra PASAN begins strike over Soludo's failure to grant financial autonomy

Governor Sanwo-Olu pays ₦4.48 billion to 1,455 retirees in accrued pensions

Governor Sanwo-Olu pays ₦4.48 billion to 1,455 retirees in accrued pensions

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT