Trump's tariff announcement might be the final straw for his top economic adviser
President Trump's top economic adviser, who spent months trying to keep Trump from imposing steep tariffs, might not be sticking around much longer.
Gary Cohn is one of the few moderates in Trump's White House, and rumors have long swirled that he's been close to leaving. Trump announced Thursday he will enact a 25 percent tariff on steel imports and 10 percent tariff on aluminum imports, after Cohn tried, in a last-ditch effort, to convince him on Wednesday not to go through with his plan, several people told Politico. Cohn is "passionate" in his belief that "protectionism is economically backward and won't lead to increased prosperity," Politico reports, and several other members of the Trump administration, including National Security Adviser H.R. McMaster and Defense Secretary Jim Mattis, agreed with him.
Cohn almost resigned as director of the National Economic Council last summer, after Trump said there were "good people on both sides" of the white nationalist rally in Charlottesville, but he stayed put to push through the Republican tax overhaul, Politico reports. His allies are not sure if the tariff announcement is the last straw, but it's a major blow to Cohn, who fought with White House trade adviser and tariff advocate Peter Navarro over the plan. In the end, Cohn's arguments against the tariffs meant nothing — several people told Politico that Trump, infuriated by all of the negative press his staff has been receiving, was "dead-set" on imposing tariffs.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
The art world and motherhood: the end of a final taboo?
Talking Point Hettie Judah's new touring exhibition offers a 'riveting riposte' to old cliches
By Chas Newkey-Burden, The Week UK Published
-
'Musk's reliance on China draws rising scrutiny'
Today's Newspapers A roundup of the headlines from the US front pages
By The Week Staff Published
-
Biba: the story of a 'legendary emporium'
The Week Recommends Brand's 60th anniversary is being marked with retrospective celebrating the 'iconic shop's cultural importance'
By Adrienne Wyper, The Week UK Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published
-
Nvidia sees historic stock rise on AI chips success
Speed Read U.S. chipmaker Nvidia achieved the biggest one-day increase in value of any company in history
By Peter Weber, The Week US Published