Gary Cohn, Donald Trump's top economic advisor, recently announced that he plans to resign in the coming weeks. His announcement is only the latest in a string of high-profile departures from the Trump White House. In a statement issued by the White House last Tuesday, Gary Cohn said that he will leave his job as the director of the National Economic Council, a role he has held for little over a year. A Democrat, Cohn has served in the position since the start of Trump's presidency, playing a crucial role in writing the president's tax bill.
Perceived by many onlookers as a steady hand in the chaotic Trump administration, Cohn was one of the few traditionalists on trade in an aggressively protectionist White House. In his statement, the former Goldman Sachs president said, "It has been 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."
Cohn made his resignation announcement only two days before the president formally ordered heavy tariffs on steel and aluminum imports from every country except the U.S.'s immediate neighbors, Mexico and Canada. Cohn had strongly opposed the president's planned tariffs, which Trump had unexpectedly announced in February to the surprise of many in his own administration. Opponents to the plan have cautioned that new tariffs could antagonize trading partners and begin an unnecessary trade war.
Trump's economic policy director had reportedly threatened to quit if the president followed through on his plans to order aggressive tariffs on foreign steel and aluminum. According to reports, in an attempt to dissuade him, Cohn had arranged a meeting on March 1 between the president and representatives from companies affected by the potential tariffs, a meeting that Trump then canceled.
In spite of Cohn's resignation, President Trump signed orders on Thursday to levy a 25% tariff on steel and a 10% tariff on aluminum, to become effective on March 23. White House officials have told reporters that Cohn's resignation was not solely caused by the president's decision to move enact steel and aluminum tariffs. Despite this claim, the timing of Cohn's resignation suggests that the tariff issue had been the precipitating factor in his decision to leave the White House.
Cohn is the most recent senior aide to leave the White House, following communications director Hope Hicks, who left the administration two weeks ago. According to numbers from the Brookings Institute's Kathryn Dunn Tenpas, Cohn's departure raises the Trump administration's turnover rate to 43%.
According to reports this week, Trump is interested in naming Larry Kudlow as Cohn's replacement. A long-time economic analyst and television personality, Kudlow had previously worked for Trump as an advisor during the 2016 campaign. A frequent commentator on various media outlets, Kudlow has publicly opposed Trump's steel and aluminum tariffs.