In the lead-up to his second term, US President-elect Donald Trump is contemplating the reappointment of Larry Kudlow, a familiar figure from his previous administration, for a key economic policy role. Kudlow, who served as the director of the National Economic Council (NEC) for three years during Trump’s first tenure, remains a prominent voice in economic commentary and has maintained a close relationship with Trump. Recent reports indicate that Trump’s inner circle is favorably considering Kudlow for positions such as leading the NEC or potentially taking on the role of Treasury Secretary. Although Kudlow was a guest at Trump’s Mar-a-Lago residence and has kept in consistent communication with the president-elect, he has reportedly conveyed to Trump’s team that he is not interested in an official position within the upcoming administration.
The decision-making process surrounding potential economic appointees appears to be influenced by a competitive dynamic involving other candidates. According to sources cited by the Wall Street Journal, Howard Lutnick, the CEO of Cantor Fitzgerald, and Scott Bessent, a hedge fund manager, are both vying for senior economic roles, particularly the position of Treasury Secretary. Their assertive pursuits have apparently created some tension, fueling speculation that Kudlow could be viewed more favorably as a candidate. Lutnick, serving as co-chair of Trump’s transition team, is said to have approached the president-elect directly regarding the Treasury position. Meanwhile, Senator Lindsey Graham has publicly endorsed Bessent, calling him an “outstanding” choice for this key role, further complicating the selection process.
Additionally, Trump’s consideration of a wider range of candidates for senior economic roles reflects his ongoing focus on trade policy and economic competitiveness. Robert Lighthizer, who served as the US Trade Representative during Trump’s first term, has also been mentioned as a candidate for prominent positions, potentially a continuation of his earlier role as trade czar. Furthermore, Marc Rowan, CEO of Apollo Global Management, has emerged as a potential nominee for economic positions within the new administration. This diversity of considerations underscores Trump’s emphasis on maintaining a strong, assertive economic team to navigate ongoing global challenges, particularly in light of tensions with China.
Trump’s approach to economic policy has been characterized by an aggressive tariff strategy aimed at bolstering US interests. His administration’s past actions included initiating a trade war with China, during which both countries imposed significant tariffs and sanctions against each other. As Trump prepares to reassert himself on the global economic stage, there is a clear intent to continue employing a tough stance against trade practices that are perceived as harmful to American workers and industries.
The backdrop of Trump’s second term ambitions is marked by a vision of rejuvenating the US economy while addressing challenges posed by major trading partners. Kudlow’s historical alignment with Trump’s policies and his media presence could position him favorably within the administration, contingent on his willingness to accept a role. Nevertheless, the atmosphere surrounding these appointments suggests that the dynamics among the competing candidates may influence the final decisions.
Overall, the selection of economic policymakers will be crucial in shaping the administration’s strategies and priorities in the coming years. As Trump navigates the complex landscape of potential appointments, the interplay between established relationships, competitive aspirations, and an overarching goal of economic resilience will likely define his approach. The anticipated focus on tariffs and trade positions could indicate a continued commitment to the policies that characterized Trump’s earlier presidency, preserving a confrontational stance particularly toward economic partners like China.