President Trump's top economic adviser Gary Cohn is resigning over his disagreements with new tariffs on steel and aluminum. Cohn, who is a registered Democrat and free trade advocate, fears the tariffs could spark a trade war. According to CNBC, a date has not been set for his departure, but it is expected to happen in the next few weeks.
Cohn, a former Goldman Sachs executive, said in a statement it was “an honor to serve my country and enact pro-growth economic policies to benefit the American people, in particular, the passage of historic tax reform.”
Trump issued a statement calling Cohn a "rare talent" who "did a superb job in driving our agenda."
"Gary has been my chief economic advisor and did a superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again."
He said he will soon decide on a new chief economic adviser. Trump tweeted that many people want the job and noted that he will be choosing wisely.
Will be making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job - will choose wisely!
The Dow Jones was down 300 points in early trading on the news but regained some of the initial losses. The Dow was down 164 points just before noon.
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