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President Trump's former chief economic adviser Gary Cohn said on CBS's "Face the Nation" Sunday that he thinks the president's tariffs on China "totally" hurt the United States, and that he doesn't believe they have helped achieve a different "outcome" with China.

The exchange:

BRENNAN: Can the president say, 'Look, people may not like my tactics, but I got this done?' Was he ultimately right? Were you wrong?
COHN: They can say that. I don't think we would have gotten to a different outcome. I don't think the tariffs helped us get to any different outcome.
BRENNAN: Did it hurt the U.S.?
COHN: I think it has hurt the U.S. I think it's totally hurt the United States.

Driving the news: President Trump and China signed 'phase-one' of a deal this week meant to ease tensions stemming from a two-year trade war.

  • Axios' Dion Rabouin notes that while the limited agreement will roll back some U.S. tariffs on Chinese goods and see China increase purchases of U.S. goods and services by $200 billion over two years, experts say it leaves more questions than answers.
  • For example, the agreement does not spell out what goods China will buy or how it will reach the targets of $200 billion of increased spending on agriculture, energy, manufacturing and services.

The backdrop: Many speculated that Cohn, who favors free trade and was often at odds with the populist factions of the Trump administration, resigned over Trump's steel and aluminum tariffs. Cohn didn't confirm that's why he left, but told CBS that he "didn't think the steel and aluminum tariffs were helpful to the economy."

  • "We'd accomplished a lot, and at the end of the day, he was going a different direction on some of the trade negotiations than I would have gone," Cohn said.

Go deeper: The "phase one" deal isn't all that it seems

Go deeper

Felix Salmon, author of Capital
2 hours ago - Technology

Facebook's scandals have been great for shareholders

Expand chart
Data: YCharts; Chart: Axios

Facebook has been embroiled in scandal for the past five years, and while the specific allegations change over time, a central theme is constant. Given the choice between commercial and moral imperatives, Facebook always seems to choose the option that is best for the share price.

Why it matters: Facebook's stock chart supports that narrative. Since the 2016 scandals alleging that the social network was infiltrated by foreign actors trying to influence the outcome of democratic elections, Facebook's revenues — and its stock — have been soaring.

Biden to tap telecom trio for NTIA, FCC posts

Jessica Rosenworcel. Photo: Bill Clark/CQ Roll Call

President Joe Biden on Tuesday is expected to name Alan Davidson as head of the telecom arm of the Commerce Department, Jessica Rosenworcel as chairwoman of the Federal Communications Commission and Gigi Sohn as a commissioner at the FCC, according to a person familiar with the process.

Why it matters: Internet availability and affordability has been a key policy priority for the White House, but the administration lagged in tapping people for the agency posts that oversee the issues.

3 hours ago - Technology

Facebook seeks fountain of youth

Data: Piper Sandler Taking Stock With Teens Study; Chart: Axios Visuals

Facebook CEO Mark Zuckerberg on Monday said that the company is pivoting its strategy to focus on young adults, following reports that teens have fled its apps.

Why it matters: A series of stories based on leaked whistleblower documents suggest the company sees the aging of its user base as an existential threat to its business.

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