Trump on trade: words vs actions

The New York Times highlights how Trump isn't living up to his rhetoric on trade.

• Executive orders: the Times said they're "unlikely to effect a major change" in manufacturing or trade
• TPP: a Trump adviser told the Times yesterday it will serve as a "starting point" for new deals
• NAFTA: changes to the deal will be modest
• China: no specific plans announced and no steps taken to label China a currency manipulator

Why it matters: The mixed record on trade is a sign of the battle within the administration between America-first nationalists like Steve Bannon and advisers pushing more measured steps such as economic council director Gary Cohn and Commerce Secretary Wilbur Ross