A new report from The New York Times signals the resignation of Trump’s top economic advisor Gary Cohn.
Gary D. Cohn, President Trump’s top economic adviser, plans to resign, becoming the latest in a series of high-profile departures from the Trump administration, White House officials said on Tuesday.
The officials insisted there was no single factor behind the departure of Mr. Cohn, who heads the National Economic Council. But his decision to leave came after he seemed poised to lose an internal struggle amid a Wild West-style process over Mr. Trump’s plan to impose large tariffs on steel and aluminum imports.
“Gary has been my chief economic adviser and did a superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again,” Mr. Trump said in a statement to The New York Times. “He is a rare talent, and I thank him for his dedicated service to the American people.”
Mr. Cohn is expected to leave in the coming weeks. He will join a string of recent departures by senior White House officials, including Mr. Trump’s communications director and a powerful staff secretary.
Yet the departure of Mr. Cohn, a free-trade oriented Democrat who fended off a number of nationalist-minded policies during his year in the Trump administration, could have a ripple effect on the president’s economic decisions and on the financial sector.
Even the mere threat, last August, that Mr. Cohn might leave sent the financial markets tumbling.
And his planned exit comes as the president is making a more aggressive return to the nationalist policies that helped sweep him into office as the 2018 midterm elections approach.
This has made Trump’s base extremely happy. Breitbart already has a headline celebrating the departure.
This resignation is clearly about the Tariffs Trump is planning on implementing. Since Tax Reform has passed Gary Cohn is no longer needed in the eyes of Trump.