The Economic Adviser Of Donald Trump Resigns

The trepidation of Donald Trump through the Oval Office continues to burn advisers at breakneck speed. The head of the economic department, Gary Cohn, renowned investment in banking who came from Wall Street as one of the most prestigious brands of the president-manager, has submitted his resignation.

It was not the first time that the expert disagreed with a decision by Trump, but the announcement of the increase in tariffs on the import of steel (25%) and aluminum (10%) was the straw that broke the camel's back. The ex-director of Goldman Sachs, belonging to the group of so-called globalists, faced with the protectionists in a kind of permanent clash in the Trump White House, has preferred to leave before the commercial war broke out caused by his boss. The news of his resignation caused an immediate drop in indexes in the futures markets of Wall Street.

Cohn not only did not share the decision of the president, also promoted by the Secretary of Commerce, Wilbur Ross, but tried until the last moment to convince him that it would cause more harm than benefits to the American companies, and, with this, to the consumers already the workers he claims to defend Trump.

To try to take him to his land, the also tutor of the National Economic Council had prepared for tomorrow a meeting in the White House in which the president was going to listen to the arguments of a group of CEOs of the large companies harmed. According to the experts, the sectors negatively affected by the new tariffs represent an injury that is calculated eight times greater than the relief for those sectors to which it is intended to benefit. Not to mention those derived from announced reprisals by the European Union and Canada . Trump's decision not to attend the meeting was the fuse that led to the resignation of Cohn, which will be effective this week.

The White House did not deny that the disagreement with the protectionist policy of the president has led to the departure of his economic adviser, although he opened the range to "other reasons." Among them, having fulfilled the responsibility of preparing the tax reduction plan, one of Trump's flagship projects , recently entered into force. In official statements, the president highlighted Cohen's "great work" to make the fiscal plan possible.

News Sources :

CNBC

NY Times

Telegraph

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