Gary Cohn, Top Trump Economic Adviser, To Resign

Gary Cohn, President Donald Trump's chief economic adviser and director of the National Economic Council who opposed Trump on trade policy, is resigning from his post. Cohn's resignation comes less than a week after another key Trump administration official, Hope Hicks, announced that she would be resigning as White House communications director.

“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 said 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.”

Cohn was opposed to Trump's planned tariffs on steel and aluminum and had tried to get the president to reverse his position, The Associated Press reports. Trump, however, reiterated Tuesday that he would be imposing the tariffs.

Cohn told other White House aides in recent weeks that he would have little reason to stay if Trump followed through with his tariff plans, according to a White House official familiar with his views. The official spoke to The Associated Press on condition of anonymity.

It's not the first time Cohn has been opposed to Trump. After the white nationalist rally in Charlottesville, Virginia in August, Cohn had reportedly drafted a letter of resignation to submit to Trump after the president said "both sides" were to blame for the rally where one person was killed. Cohn changed his mind about the resignation. Cohn later gave an interview to The Financial Times, saying the administration can and must do better to condemn hate groups. Cohn also said in the interview that standing up for equality and freedom can never be equated with white supremacists, neo-Nazis, and the KKK.

“Gary has been my chief economic advisor 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. "He is a rare talent, and I thank him for his dedicated service to the American people.”

Cohn's departure date has not been determined but will be in the coming weeks.

Cohn is a former Goldman Sachs executive who joined the White House after departing the Wall Street firm with a $285 million payout. He played a pivotal role in helping Trump enact a sweeping tax overhaul, coordinating with members of Congress.

Cohn's departure is a blow to Capitol Hill Republicans and business groups, as they were hoping that Trump might listen to their worries on tariffs. Earlier Tuesday, House Speaker Paul Ryan had said talks with the White House were "ongoing" and he was "encouraged" that the White House would adjust course.

A replacement for Cohn has not been named but Trump tweeted Tuesday night that he would be making a decision soon. He added that there were "many people wanting the job" and he would "choose wisely."

The Associated Press contributed.

Photo by Manuel Balce Ceneta, Associated Press