Wednesday, 21 March 2018
Latest news
Main » Media Leaves Out Major Details Surrounding Gary Cohn's Departure

Media Leaves Out Major Details Surrounding Gary Cohn's Departure

11 March 2018

Mr Cohn's departure, announced Tuesday, came as the president chose to move forward with a plan to slap tariffs on steel and aluminium imports - a move long opposed by Mr Cohn and promoted by Mr Navarro. "I mean seriously a globalist, there's no question", Trump added.

As aides discussed the logistics of making the president's proposed 25 per cent tariff on steel and 10 per cent tariff on aluminium official, Mr Trump sought confirmation from his advisers that he had their support.

"He's not quite as strong on those tariffs as we want him to be".

Hours before Cohn's resignation was announced Tuesday, Trump set a "line in the sand" asking Cohn if he would support the tariffs-and Cohn did not answer, a White House official and an outside adviser to the president told Fox News.

More news: Long Term Trend - Comcast Corporation (CMCSA)

When he described Cohn as a globalist Trump drew a smiles from cabinet members around the table, including Cohn himself who was sitting behind the president.

While some see Navarro as the administration's favorite for the vacant role, there's still little clarity on the upcoming decision despite it being clear the White House is leaning increasingly toward protectionism in foreign trade and supply-side economics at home.

"The resignation of White House chief economic adviser Gary Cohn may be all the confirmation global markets need that the USA administration's protectionist policy agenda is more than just a political show", ING strategists wrote in a daily note. Officials, however, said a signing ceremony was unlikely.

Cohn's departure from the administration was marked by a heated debate over the looming tariffs.

More news: Germany backs European Union decision to respond to U.S. steel tariffs-spokesman

In a statement, Trump said Cohn did a "superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again".

"We're going to be very flexible", Trump said.

Gary Cohn's abrupt decision to step down was seen as increasing the likelihood of Donald Trump provoking a trade war. The president never formally offered Mr. Cohn the job, those people insisted, but Mr. Trump had discussions with him about whether he would be interested. "He is a rare talent, and I thank him for his dedicated service to the American people", Trump said. But Mr. Liddell, the White House's director of strategic initiatives, is now seen as a front-runner to replace Mr. Cohn as the director of the National Economic Council, they said.

More news: Canada's Jones advances to final in World Junior Curling

Media Leaves Out Major Details Surrounding Gary Cohn's Departure