Gary Cohn To Step Down From Trump Administration

Gary Cohn, who has served as President Donald Trump’s chief economic adviser since last year, will step down from his position, the White House confirmed Tuesday.

He will leave his role as director of the National Economic Council in “the coming weeks,” according to New York Times, which first reported the news.

Financial watchers expected U.S. stocks to drop in the wake of the announcement. Futures for the Dow Jones Industrial Average were down roughly 1.3 percent on Tuesday evening, while S&P 500 futures were down 1.1 percent.

Cohn had been rumored to be considering leaving the White House over concerns with Trump’s recently-announced tariffs on steel and aluminum imports. Cohn, a free-trade advocate, had lobbied Trump against the tariffs, and in recent days had reportedly planned a meeting at the White House with representatives from the aluminum and steel industries in an apparently unsuccessful attempt to change the president’s mind.


Source : huffingtonpost