President Trump’s top economic advisor Gary Cohn is to resign after the president announced tariffs that he opposed.
“A rare talent”
President Trump released a statement to the New York Times, who was the first to report his resignation.
“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,” the statement read.
“He is a rare talent,” the president concluded, “and I thank him for his dedicated service to the American people.”
A disagreement on trade
CNBC reported that Cohn opposed the president’s proposed tariffs and warned him that such protectionist policies would result in higher steel and aluminum prices. Trump reportedly responded that this was a “small price to pay.”
Trump announced a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports in order to protect those industries in the United States.
“Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world,” Trump tweeted.
“We must not let our country, companies and workers be taken advantage of any longer,” he added. “We want free, fair and SMART TRADE!”
Here’s the CNN report on Cohn’s resignation:
Top economic adviser Gary Cohn is leaving the White House in the wake of his fierce disagreement with President Trump’s decision to impose tariffs on steel and aluminum imports https://t.co/QlveAXx2Yi pic.twitter.com/Ms0CPXzMsR
— The Situation Room (@CNNSitRoom) March 6, 2018