How Trade Policy Gets Made

Washington Post, quoting from Bob Woodward’s forthcoming book:

[Gary] Cohn, a Wall Street veteran, tried to tamp down Trump’s strident nationalism regarding trade. According to Woodward, Cohn “stole a letter off Trump’s desk” that the president was intending to sign to formally withdraw the United States from a trade agreement with South Korea. Cohn later told an associate that he removed the letter to protect national security and that Trump did not notice that it was missing.

Cohn made a similar play to prevent Trump from pulling the United States out of the North American Free Trade Agreement, something the president has long threatened to do. In spring 2017, Trump was eager to withdraw from NAFTA and told Porter: “Why aren’t we getting this done? Do your job. It’s tap, tap, tap. You’re just tapping me along. I want to do this.”

Under orders from the president, Porter drafted a notification letter withdrawing from NAFTA. But he and other advisers worried that it could trigger an economic and foreign relations crisis. So Porter consulted Cohn, who told him, according to Woodward: “I can stop this. I’ll just take the paper off his desk.”

If your response to this is anything other than “WTF?” then you might already be a zombie.

There’s more where that came from, if you can handle it:

Bob Woodward’s new book reveals a ‘nervous breakdown’ of Trump’s presidency (Washington Post)

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  1. How Trade Policy Gets Made – Financial Solutions commented on Sep 04

    […] [Gary] Cohn, a Wall Street veteran, tried to tamp down Trump’s strident nationalism regarding trade. According to Woodward, Cohn “stole a letter off Trump’s desk” that the president was intending to sign to formally withdraw the United States from a trade agreement with South Korea. Cohn later told an associate that he removed the letter to prot… Source: http://thereformedbroker.com/2018/09/04/how-trade-policy-gets-made/ […]