President Donald Trump has stated he is close to choosing a new chief economic adviser after his current adviser, Gary Cohn, announced his resignation on March 6.
Cohn announced his resignation on the heels of Trump’s announcement of steel and aluminum import tariffs. Cohn, a registered Democrat, publicly opposed the measure and lobbied the president to not impose the tariffs.
Trump and Cohn exchanged cordial statements for the public. Cohn is set to leave the White House in a few weeks.
“I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future,” Cohn added.
Cohn served as Trump’s chief economic advisor since the inauguration last year. Trump thanked Cohn for his work in a statement issued on Tuesday.
“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,” the president said, according to CNBC. “He is a rare talent, and I thank him for his dedicated service to the American people.”
Though a final announcement is still pending, Trump announced his intention to impose broad tariffs on steel and aluminum imports last week. Under the current proposal, the United States will charge 10 percent on imported steel and 25 percent on imported aluminum.
Trump campaigned on a promise to bring back American jobs and place American interests first when it comes to international trade. The tariff announcement stemmed from a report prepared by Secretary of Commerce Wilbur Ross, which showed that the American steel and aluminum industries are struggling while foreign companies dump heavily subsidized and unfairly priced products in the U.S. market.
Cohn was second-in-command at Goldman Sachs when Trump offered him the economic advisor post on Dec. 9, 2016.
In addition to the presidential advisor role, Cohn also serves as the Director of the National Economic Council, an advisory body which consists of the president, vice president, and the heads of a host of top-tier government agencies.
Cohn was preceded by Jeff Zientz, who served for three years under President Barack Obama.
