Top White House Economic Adviser Gary Cohn To Resign

National Economic Director Gary Cohn speaks in the briefing room of the White House, in Washington, Wednesday, April 26, 2017. President Donald Trump is proposing dramatically reducing the taxes paid by corporations ... National Economic Director Gary Cohn speaks in the briefing room of the White House, in Washington, Wednesday, April 26, 2017. President Donald Trump is proposing dramatically reducing the taxes paid by corporations big and small in an overhaul his administration says will spur economic growth and bring jobs and prosperity to the middle class. (AP Photo/Carolyn Kaster) MORE LESS
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March 6, 2018 5:32 p.m.

President Donald Trump’s chief economic adviser, Gary Cohn, has announced his resignation, the New York Times first reported Tuesday, followed by several other outlets.

“It has been an honor to serve my country and enact pro-growth economic policies to benefit the American people, in particular the passage of historic tax reform,” Cohn told CNBC in a statement. “I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future.”

The Times reported that several unnamed White House officials said “no single factor” was behind Cohn’s decision, though it comes as Trump pushes forward with a plan to impose 25 and 10 percent tariffs on imported steel and aluminum, respectively.

“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,” Trump said in a statement to the Times. “He is a rare talent, and I thank him for his dedicated service to the American people.”

The Times noted that Cohn is expected to leave in the coming weeks.

The news came less than two hours after Trump insisted, at a joint press conference with Swedish Prime Minister Stefan Löfven Tuesday, that “everybody wants to work in the White House” and “I can take any position in the White House and I’ll have a choice of the 10 top people having to do with that position.”

Cohn told the Financial Times in August of last year that he was “under enormous pressure both to resign and to remain in my current position,” following the President’s assertion that there were “very fine people on both sides” at the white nationalist rally in Charlottesville, Virginia days earlier.

The New York Times reported at the time that Cohn had drafted a resignation letter but ultimately did not deliver it, citing unnamed people familiar with the document.

This post has been updated. 

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