Top White House economic adviser Gary Cohn, a Wall Street banker who became a key architect of the 2017 tax overhaul and a bulwark against protectionist forces within the Trump administration, is resigning, the White House said on Tuesday.
Cohn had reportedly threatened to leave after Trump’s incendiary comments following the deadly race riot in Charlottesville, Virginia.
But his decision to quit on Tuesday night comes after Trump’s decision to impose tariffs on steel and aluminum imports, a move he and the treasury secretary, Steven Mnuchin, have reportedly vehemently opposed.
The resignation of Cohn, a former chief operating officer at Goldman Sachs, could be the most consequential. It comes after global markets were roiled by Trump’s decision to press on with plans to impose tariffs on trading allies, which investors fear could spark an international trade war.
Cohn’s departure represents another blow to the administration, which has suffered several high-profile resignations since the election. Hope Hicks, Trump’s close aide and communications director, quit last week, and other senior figures to have left include Trump’s former chief of staff, Reince Priebus, and former chief strategist, Steve Bannon.
