White House National Economic Council’s director, Gary Cohn, announced his resignation on Tuesday. This comes as he has had a falling-out with Trump over trade policy, and the Administration’s plan to impose tariffs on aluminum and steel.
Cohn said in a statement that, “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.”
“I am grateful to the president for giving me this opportunity and wish him and the administration great success in the future,” he said.
It was also noted that Cohn was not present during the press conference between President Donald Trump and Stefan Löfven, Swedish Prime Minister yesterday. In his absence, Sarah Huckabee Sanders, White House press secretary took his reserved seat instead.
“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,” Trump said in a statement.
“He is a rare talent, and I thank him for his dedicated service to the American people,” Trump said.
President Donald Trump tweeted later of Tuesday that he would soon “making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job – will choose wisely!”
“It’s sad, obviously, because he has got tremendous talent,” Barry Bennett, a senior advisor to Trump’s 2016 campaign, told The Hill. “But he was probably never really a good fit, ideologically. And in the end, ideology matters.”
“Citizens standing up for equality and freedom can never be equated with white supremacists, neo-Nazis, and the K.K.K.,” Cohn told the FT. “I believe this administration can and must do better inconsistently and unequivocally condemning these groups and do everything we can to heal the deep divisions that exist in our communities.”
“Wall Street won’t be happy,” said a senior Republican who has worked both at the White House and in finance. “We knew he was hanging in by a thread, but it is terrible news.”
In between Cohn’s alleged resignation in a few weeks, Republicans have recommended Kudlow’s name for the position. However, President Donald Trump has not commented on appointing him and commented earlier this year that, “Don’t worry, I haven’t forgotten about Larry,” Trump told one ally earlier this year amid speculation Cohn might resign.
John Kelly, White House chief of staff said he would “miss having him as a partner in the White House.”