White House chief economic adviser Gary Cohn resigns after losing tariff battle
President Donald Trump's chief economic adviser, Gary Cohn, has resigned after losing a high-profile battle over tariffs the president wants to impose on steel and aluminum imports.
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“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, President Trump said in a statement. "He is a rare talent, and I thank him for his dedicated service to the American people.”
In his own statement, Cohn 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. I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future.”
Chris Kleponis-Pool/Getty Images
Cohn's departure marks the sixth high-profile administration loss this year alone, the most recent last week when longtime Trump aide and communications director Hope Hicks announced she was leaving.
Trump's staff turnover so far has been record-setting - more than triple that of the Obama administration and double that of the Reagan White House, according to a recent study by the Brookings Institution.
Cohn was on the cusp of quitting last summer after Trump's infamous "very fine people on both sides" comment likening white supremacists to counter-protesters in Charlottesville, Va.
Earlier Tuesday, Trump hinted that there might be more departures from his White House, but pushed back on reports staffers are unhappy.
"I read where, oh, gee, maybe people don't want to work for Trump - and, believe me, everybody wants to work in the White House," Trump said at a joint news conference with Sweden's prime minister.
"They all want a piece of that Oval Office. They want a piece of the West Wing. And not only in terms of it looks great on their resume, it's just a great place to work."
Trump added that it can be a tough place to work. "I like conflict. I like having two people with different points of view, and I certainly have that. And then I make a decision. But I like watching it. I like seeing it, and I think it's the best way to go. I like different points of view. But the White House has a tremendous energy and we have tremendous talent."
"Yes, they'll be people -- I'm not going to be specific -- but there will be people that change -- they always change. Sometimes they want to go out and do something else but they all want to be in the White House," Trump said.
Alex Wong/Getty Images
Cohn's exit comes as little surprise after his week-long trade policy dispute with the president, who announced last week, over Cohn's objections, that he would impose steep tariffs on imported steel and aluminum imports.
Cohn, who has been the leading voice within the administration opposing the tariffs, had planned to arrange a meeting at the White House this week between the president and executives of companies that would be hurt by the tariffs, but that meeting was called off, sources familiar with the matter tell ABC News.
Last week, surrounded by steel and aluminum executives in the White House, the president made an impromptu announcement that he intends to impose a 25 percent tariff on steel imports, and 10 percent on aluminum imports. He said the tariffs were still being finalized and that he'd formally enact them this week.
Andrew Harrer/Bloomberg via Getty Images
The decision caught many in the president’s party and in his own administration by surprise.
Though the tariffs have not been finalized, the president has said he’s not backing down from his decision to impose tariffs and expressed optimism that it won’t spark a trade war.
“I don’t think we’re going to have a trade war,” Trump said Monday. At a press conference Tuesday, he claimed a trade war, if it were to happen, would be bad for the other countries, not the United States.
This is a breaking news story. Please check back for updates.
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