On Tuesday, March 5, the White House announced the resignation of Gary Cohn, the senior economic advisor to President Donald Trump. Meanwhile, Donald Trump stated that he would soon introduce Mr. Cohn's replacement. Reports indicate that Gary Cohn's resignation will be finalized in the coming weeks. This comes as Donald Trump has recently announced his plan to impose tariffs on steel and aluminum. Gary Cohn served as Trump's senior economic advisor for over a year and previously led the major bank Goldman Sachs. In a statement, Mr. Cohn expressed pride in serving the American people and enacting laws for economic growth, particularly the 'historic tax reform' program. He added, 'I am very grateful to the President who gave me this opportunity and wish him and the administration great success in the future.' Donald Trump also praised Mr. Cohn's efforts for the American people in a statement. According to the Associated Press, the news of Gary Cohn's resignation comes amid Trump's recent tariff announcement, which could lead to a cold season in international trade relations. The World Trade Organization warned that Trump's tariff decisions could lead to a trade war.
Trump's Senior Economic Advisor Resigns
Gary Cohn, senior economic advisor to President Trump, has announced his resignation, which is expected to be finalized in the coming weeks. Trump plans to appoint a replacement soon, amid ongoing discussions about tariffs on steel and aluminum that could impact international trade relations.
👥 Key Players
📰 What Happened
Gary Cohn has resigned as senior economic advisor to President Trump, with his resignation expected to be finalized in the coming weeks. This development coincides with Trump's announcement of new tariffs on steel and aluminum, raising concerns about potential trade wars.
- Cohn served as Trump's economic advisor for over a year and previously led Goldman Sachs.
- Trump's tariff announcement could lead to tensions in international trade relations.
💡 Why It Matters
📚 Background
Gary Cohn's role as a senior economic advisor was pivotal in shaping U.S. economic policies, particularly regarding tax reforms and trade. His resignation raises questions about the future direction of these policies under Trump's administration.
🏷️ Entities Mentioned
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