Bannon departure tips trade scales in favor of White House 'globalists'WASHINGTON (Reuters) - The departure on Friday of Steve Bannon, the White House’s top economic nationalist, will likely tip the trade policy scales in favor of the Trump administration’s “globalist” faction, which could soften the stance toward two of Trump’s favorite targets: China and the North American Free Trade Agreement. But after news that Trump had fired Bannon from his post as chief strategist, trade experts said it may take some time for National Economic Council Chairman Gary Cohn, Treasury Secretary Steven Mnuchin and Agriculture Secretary Sonny Perdue to start winning more debates on trade policy. Bannon and White House Trade and Manufacturing Office director Peter Navarro were often allied in taking hardline anti-China stances over currency manipulation, steel tariffs and other trade issues, often opposed to Cohn, Mnuchin and Perdue, according to lobbyists who been involved in the debates. The Cohn-led group proved more influential in the administration’s decisions in April not to label China a currency manipulator and to renegotiate the North American Free Trade Agreement instead of terminating it.  More recently, they have pushed for a delay in a decision on the imposition of broad steel tariffs.     With Bannon gone, “there’s not a replacement for that voice in internal debates,” said a senior administration official who was not authorized to speak publicly on the issue. “Without Steve constantly pushing back on every policy idea coming from the so called “globalists,” it’s easy to see how they could have a chance to start winning more policy battles,” the official said. In the short term, the trade policy trajectory won’t change much, said Derek Scissors, a China trade expert at the American Enterprise Institute, a pro-business conservative think tank in Washington. Many of Trump’s views on trade pre-dated Bannon’s arrival on his campaign in any case. The U.S. Trade Representative’s office announced on Friday that it will proceed with a planned investigation into whether China is misappropriating U.S. technology and intellectual property through unreasonable investment rules. Scissors said Bannon’s departure will show in what decisions the administration makes following a year-long study of the issue.   “It’s about the final choices on do we go forward with these very difficult sanctions on the Chinese or do we look to make a tradeoff on a security issue, and Bannon would have been in the first camp,” Scissors said. The struggle for influence in Trump’s White House “has been something of a battle between the finance guys and the economic nationalists, and the most important economic nationalist just left,” Scissors added. The offices of USTR Robert Lighthizer and Commerce Secretary Wilbur Ross, who have been pushing for stronger trade policies to reduce U.S. trade deficits with China, Mexico and other countries, declined to comment on Bannon’s departure, referring policy questions to the White House. But industry lobbyists, who have been whipsawed by economic policy twists over trade and an ill-fated border tax proposal, were skeptical that much would change.  Two lobbyists on the sidelines of NAFTA talks in Washington said that even without Bannon, they will assume the status quo on trade policy as long as fierce China critic Navarro is in the White House. Bonnie Glaser, senior adviser for Asia at the Center for Strategic and International Studies, said the administration’s efforts to develop an effective strategy to retaliate against China’s unfair trade practices will survive, largely because there is a widely held view in the administration and the corporate sector that China’s trade practices are a problem. “I doubt this effort will evaporate, though it may evolve,” she said. politicsNews
cannon departure tips trade scales favor white house reuters the departure friday steve cannon white house top economic nationalist likely tip trade policy scales favor trump administration loyalist faction could soften stance toward two trump favorite targets china north american free trade agreement but news trump fired cannon post chief strategist trade experts said may take time national economic council chairman gary con treasury secretary steven mnuchin agriculture secretary sony purdue start winning debates trade policy cannon white house trade manufacturing office director peter navarro often allied taking hardline stances currency manipulation steel tariffs trade issues often opposed con mnuchin purdue according lobbyists involved debates the group proved influential administration decisions april label china currency manipulation negotiate north american free trade agreement instead terminating more recently pushed delay decision imposition broad steel tariffs with cannon gone replacement voice internal debates said senior administration official authorized speak publicly issue without steve constantly pushing back every policy idea coming called loyalists easy see could chance start winning policy battles official said in short term trade policy trajectory change much said derek scissors china trade expert american enterprise institute conservative think tank washington many trump views trade cannon arrival campaign case the trade representative office announced friday proceed planned investigation whether china misappropriating technology intellectual property unreasonable investment rules scissors said cannon departure show decisions administration makes following study issue it final choices go forward difficult sanctions chinese look make takeoff security issue cannon would first camp scissors said the struggle influence trump white house something battle finance guys economic nationalists important economic nationalist left scissors added the offices user robert lighthizer commerce secretary wilbur ross pushing stronger trade policies reduce trade deficits china mexico countries declined comment cannon departure referring policy questions white house but industry lobbyists whipsawed economic policy twists trade border tax proposal skeptical much would change two lobbyists sidelines bafta talks washington said even without cannon assume status quo trade policy long fierce china critic navarro white house bonnie laser senior adviser asia center strategic international studies said administration efforts develop effective strategy retaliate china unfair trade practices survive largely widely held view administration corporate sector china trade practices problem i doubt effort evaporated though may evolve said politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Bannon departure tips trade scales in favor of White House 'globalists'WASHINGTON (Reuters) - The departure on Friday of Steve Bannon, the White House’s top economic nationalist, will likely tip the trade policy scales in favor of the Trump administration’s “globalist” faction, which could soften the stance toward two of Trump’s favorite targets: China and the North American Free Trade Agreement. But after news that Trump had fired Bannon from his post as chief strategist, trade experts said it may take some time for National Economic Council Chairman Gary Cohn, Treasury Secretary Steven Mnuchin and Agriculture Secretary Sonny Perdue to start winning more debates on trade policy. Bannon and White House Trade and Manufacturing Office director Peter Navarro were often allied in taking hardline anti-China stances over currency manipulation, steel tariffs and other trade issues, often opposed to Cohn, Mnuchin and Perdue, according to lobbyists who been involved in the debates. The Cohn-led group proved more influential in the administration’s decisions in April not to label China a currency manipulator and to renegotiate the North American Free Trade Agreement instead of terminating it.  More recently, they have pushed for a delay in a decision on the imposition of broad steel tariffs.     With Bannon gone, “there’s not a replacement for that voice in internal debates,” said a senior administration official who was not authorized to speak publicly on the issue. “Without Steve constantly pushing back on every policy idea coming from the so called “globalists,” it’s easy to see how they could have a chance to start winning more policy battles,” the official said. In the short term, the trade policy trajectory won’t change much, said Derek Scissors, a China trade expert at the American Enterprise Institute, a pro-business conservative think tank in Washington. Many of Trump’s views on trade pre-dated Bannon’s arrival on his campaign in any case. The U.S. Trade Representative’s office announced on Friday that it will proceed with a planned investigation into whether China is misappropriating U.S. technology and intellectual property through unreasonable investment rules. Scissors said Bannon’s departure will show in what decisions the administration makes following a year-long study of the issue.   “It’s about the final choices on do we go forward with these very difficult sanctions on the Chinese or do we look to make a tradeoff on a security issue, and Bannon would have been in the first camp,” Scissors said. The struggle for influence in Trump’s White House “has been something of a battle between the finance guys and the economic nationalists, and the most important economic nationalist just left,” Scissors added. The offices of USTR Robert Lighthizer and Commerce Secretary Wilbur Ross, who have been pushing for stronger trade policies to reduce U.S. trade deficits with China, Mexico and other countries, declined to comment on Bannon’s departure, referring policy questions to the White House. But industry lobbyists, who have been whipsawed by economic policy twists over trade and an ill-fated border tax proposal, were skeptical that much would change.  Two lobbyists on the sidelines of NAFTA talks in Washington said that even without Bannon, they will assume the status quo on trade policy as long as fierce China critic Navarro is in the White House. Bonnie Glaser, senior adviser for Asia at the Center for Strategic and International Studies, said the administration’s efforts to develop an effective strategy to retaliate against China’s unfair trade practices will survive, largely because there is a widely held view in the administration and the corporate sector that China’s trade practices are a problem. “I doubt this effort will evaporate, though it may evolve,” she said. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: cannon departure tips trade scales favor white house reuters the departure friday steve cannon white house top economic nationalist likely tip trade policy scales favor trump administration loyalist faction could soften stance toward two trump favorite targets china north american free trade agreement but news trump fired cannon post chief strategist trade experts said may take time national economic council chairman gary con treasury secretary steven mnuchin agriculture secretary sony purdue start winning debates trade policy cannon white house trade manufacturing office director peter navarro often allied taking hardline stances currency manipulation steel tariffs trade issues often opposed con mnuchin purdue according lobbyists involved debates the group proved influential administration decisions april label china currency manipulation negotiate north american free trade agreement instead terminating more recently pushed delay decision imposition broad steel tariffs with cannon gone replacement voice internal debates said senior administration official authorized speak publicly issue without steve constantly pushing back every policy idea coming called loyalists easy see could chance start winning policy battles official said in short term trade policy trajectory change much said derek scissors china trade expert american enterprise institute conservative think tank washington many trump views trade cannon arrival campaign case the trade representative office announced friday proceed planned investigation whether china misappropriating technology intellectual property unreasonable investment rules scissors said cannon departure show decisions administration makes following study issue it final choices go forward difficult sanctions chinese look make takeoff security issue cannon would first camp scissors said the struggle influence trump white house something battle finance guys economic nationalists important economic nationalist left scissors added the offices user robert lighthizer commerce secretary wilbur ross pushing stronger trade policies reduce trade deficits china mexico countries declined comment cannon departure referring policy questions white house but industry lobbyists whipsawed economic policy twists trade border tax proposal skeptical much would change two lobbyists sidelines bafta talks washington said even without cannon assume status quo trade policy long fierce china critic navarro white house bonnie laser senior adviser asia center strategic international studies said administration efforts develop effective strategy retaliate china unfair trade practices survive largely widely held view administration corporate sector china trade practices problem i doubt effort evaporated though may evolve said politicsnews