Gary Cohn, architect of tax reforms, differed with President on trade policies
WASHINGTON (TIP): Gary Cohn, the top economic adviser to US President Donald Trump and a voice for Wall Street in the White House, resigned on March 7, in yet another jolt to the embattled White House that has seen a series of high-profile departures.
Cohn, 57, who is a former Goldman Sach executive, resigned as the White House National Economic Council director over differences with the Trump’s trade policies, including a move to impose a hefty 25 per cent tariff on the import of steel and 10 per cent on aluminium.
White House officials said the tariffs dispute contributed to Cohn’s decision to leave but that it was not the sole reason. For several weeks, Cohn had been discussing with the President that it was nearing time for him to transition out. His departure date is to be determined but will be a few weeks from now, a White House official said.
“Gary has been my chief economic adviser and did a superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again. He is a rare talent, and I thank him for his dedicated service to the American people,” Trump said. He tweeted that he “will be making a decision soon” on replacing Cohn. Administration officials said Peter Navarro, director of the White House National Trade Council, and conservative commentator Larry Kudlow were the “top two candidates” for the job.
During his stay at the White House, Cohn led coordination of Trump’s pro-growth domestic and global economic policy agenda, including the passage of historic tax cuts and reforms in December 2017. “It has been an honor to serve my country and enact pro-growth economic policies to benefit the Americans. I am grateful to the President for giving me this opportunity,” Cohn said. — Agencies
Trump threatens to tax European cars
Donald Trump on Tuesday, March 6, threatened to slap a 25% tax on import of cars from Europe if the EU retaliated on its decision to impose import tariffs on steel and aluminium
Swedish PM Stefan Lofven during his meeting with Trump had conveyed the message of the EU president that if the US put tariffs on steel and aluminum, they will slap back with punitive tariffs on bourbon, jeans and motorcycles
They can do whatever they’d like, but if they do that, we put 25% tax on their cars, and believe me, they won’t be doing it long, Trump said.