Tariff foe Cohn quits as Trump’s top econ adviser
Top Trump economic adviser Gary Cohn is leaving the White House after breaking with President Donald Trump on trade policy.
Cohn, the director of the National Economic Council, has been the leading internal opponent to Trump’s planned tariffs on imports of steel and aluminum. He has tried to orchestrate an eleventh-hour effort to push Trump to reverse course. But Trump has been resistant to those efforts, and reiterated yesterday he will be imposing the tariffs in the coming days.
In a statement, Cohn says it was his honor to serve in the administration and “enact progrowth economic policies to benefit the American people.”
The high-profile exit came as Trump doubled down on his tariff plan — despite pressure from congressional Republicans and industry groups — insisting yesterday, “Trade wars aren’t so bad.”
Trump said he plans to move forward with special tariffs on imported steel and aluminum, contending the U.S. has long been “mistreated” in trade deals. He’s signaled he’ll use tariffs as a bargaining chip in talks with Canada and Mexico on the North American Free Trade Agreement.
“We’re doing tariffs on steel. We cannot lose our steel industry. It’s a fraction of what it once was. And we can’t lose our aluminum industry,” Trump said during a joint news conference with Swedish Prime Minister Stefan Lofven.
The president’s pledge for action, which would be in line with one of his campaign promises, came after House Speaker Paul Ryan of Wisconsin called for a “more surgical approach” that would help avert a trade war. Senate Majority Leader Mitch McConnell of Kentucky said he’s concerned tariffs could lead to economic turmoil.
“We are urging caution,” McConnell said.
Trump praised Cohn despite their disagreement, saying Cohn has “served his country with great distinction.”
Meanwhile, a porn star is suing Trump and wants a California judge to invalidate a nondisclosure agreement she signed days before the 2016 election.
The lawsuit, filed yesterday, alleges the agreement is “null and void and of no consequence” because Trump didn’t personally sign it.
Stormy Daniels, whose real name is Stephanie Clifford, has claimed she had sex with Trump once and then carried on a yearslong platonic relationship. She has, through a lawyer, denied the two had an affair.
Trump’s attorney, Michael Cohen, has said he paid the porn actress $130,000 out of his own pocket as part of the agreement. He’s denied there was ever an affair.