President TrumpDonald TrumpHillicon Valley — State Dept. employees targets of spyware Ohio Republican Party meeting ends abruptly over anti-DeWine protesters Jan. 6 panel faces new test as first witness pleads the Fifth MORE on Monday met with the new director of his National Economic Council (NEC), Larry Kudlow, to discuss the administration's economic agenda.
"Larry and the NEC team look forward to building on the successes of the President’s economic agenda, raising wages, and creating jobs across the country," the White House said.
Trump announced last month that Kudlow would succeed Gary CohnGary David CohnHow Biden should sell his infrastructure bill On The Money: Wall Street zeros in on Georgia runoffs | Seven states sue regulator over 'true lender' rule on interest rates | 2021 deficit on track to reach .3 trillion Former Trump economic aide Gary Cohn joins IBM MORE in the role following Cohn's resignation due to disagreements with Trump's decision to put tariffs on steel and aluminum imports.
Kudlow has most recently served as a contributor at CNBC but had worked in the Reagan administration and also advised Trump's 2016 presidential campaign.
He has been skeptical of tariffs but says he's fine with tariffs that target China. He's also been a champion of the tax law Trump signed in December.
"The President is glad to have Director Kudlow on board, following decades of experience in both the private and public sectors, including at the White House under President Reagan," the White House said in a statement.
Kudlow's arrival at the White House comes amid good economic news for the administration, including gross domestic product expanding at 2.9 percent in the last quarter of 2017 and an unemployment rate of 4.1 percent. But the Dow Jones industrial average fell by more than 400 points Monday after China announced new tariffs on U.S. imports.
The White House said Trump thanked Cohn "for his service to the hardworking American men and women who are seeing bigger paychecks and brighter futures thanks to the Trump economy."