5 minutes agoTrump leaves the main adviser for the economy, that was his displeasure.
Periskopi(8 years ago)
(8 years ago)The White House has announced that American President Donald Trump's top economic adviser, Gary Cohn, has resigned. He is the last in a series of high profile names out of President Trump's team. There was speculation that Cohn, supporter of free trade, was angered by Trump's plans [...]
The White House has announced that American President Donald Trump's top economic adviser, Gary Cohn, has resigned.
He is the last in a series of high profile names out of President Trump's team. There have been speculation that Cohn, a supporter of free trade, was angered by Trump's plans to impose tariffs for aluminum and steel imports.
In a statement issued by the White House, Cohn said it was “an honour to serve my country”.
The 57-year-old former president of the Goldman Sachs bank helped Trump postpone its tax reforms late last year. But there are doubts that Gary Cohn and President Trump have never been close to each other.
Cohn was not specific for the reasons for the resignation, saying in a statement it had been “an honour to serve the country and adopt pro-economic policies to benefit the American people, in particular from the passage of historic tax reform”.
A number of changes may have prompted the departure, including the possible struggle of trade tariffs and its differences in the matter with business adviser Peter Navarro and Trade Secretary Wilbur Ross.
Cohn reportedly had reached preliminary agreements for a meeting between Trump and business executives who opposed the movement of tariffs. But Trump withdrew from the meeting.
In August last year, Cohn had also criticised Trump for his response to a rightist rally at Charlottesville, Virginia, saying the administration “munds and should do better”.
Meanwhile, the White House said: “for several weeks Gary had discussed with the president that the time was near for him to resign”.
In a statement, Trump said: “Gary ... did a wonderful job in directing our agenda, helping to provide cuts and historical tax reforms and re-establish the American economy. He is a rare talent and I thank him for his dedicated service to the American people”
Analysts view the resignation of Cohn, a free market lawyer, as a reason for a drop in shares across Asia on Wednesday. Nikkei fell by 0.77% and Hang Seng 1.1%. LibertyView Rick Meckler Capital Management told Reuters that Mr. The cohn was a highly reliable “” and the resignation announcement “probably causes short-term drop-down pressure”.
