Mohamed A. El-Erian , Columnist

Trump's Economic Approach Starts to Take Shape

Teasing out a policy from the president's first week in office.

January 26, 2017 at 7:00 AM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

A work in progress.
Photographer: Nicholas Kamm/AFP/Getty Images

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It is still early days, but a picture of the economic policy approach favored by President Donald Trump is gradually coming into focus. Here are some of its key features as signaled by the words and actions of the administration in its first week in office:

It is targeting higher growth and greater job creation using what can be called an “import- substitution-plus” approach to policy making, together with elements of an industrial policy: