Trump's Top Economic Advisor Gary Cohn Resigns

Gary Cohn who is the top economic advisor of the US for President Donald Trump has submitted his resignation. The chief economic advisor of the White House who is also the former president of Goldman Sachs and a free trade advocate will be in the office for only a few more days as his last working day in the administration will be coming in a few weeks. Gary Cohn has put forward his decision from the administration of the US President, when Trump announced that he would be imposing stiff tariffs on the imports of aluminum and steel. He mentioned in a statement that he is honored to have been serving his country and enacting pro-growth economic policies for the benefit of the people of the United States and most importantly the historic tax reform. He also stated that he is grateful to the president of the United States for giving him this wonderful opportunity for which Cohn thanked the president and wished him success in the future.

On the other hand, US president Donald Trump stated in his own statement that Gary Cohn has been his chief economic advisor and has done a phenomenal job in helping to deliver the historic tax cut rates and boosting the economy of the United States once again. Trump mentioned that Cohn is an extremely talented person and he is thankful to him for providing his dedicated service to the people of America. The clash actually took place between Cohn and the protectionist advisors of Donald Trump on the issue of tariffs.

Trump announced this move of tariffs on Thursday at a meeting with aluminum and steel executives. Cohn at that point of time argued against it and warned about the rising prices of both aluminum and steel. This is per the reports of a person who was present in the meeting room. On Thursday, a reporter from Axios reported through Twitter that Donald Trump had cancelled a meeting which Gary Cohn and has arranged for him meetings with all the companies that use aluminum and steel in their products. This was done as an effort for dissuading the president from imposing the tariffs. On the other hand, some of the officials of the White House told CNBC earlier on Tuesday that if Gary Cohn resigned from office this would be due to the decision of the president regarding the tariffs.

January 16, 2022 - 03:42
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