Trump’s economic adviser Cohn quits

GARY COHN, the chief economic adviser to Donald Trump, has resigned from the White House.

Mr Cohn, 57, was understood to have been fundamentally opposed to Mr Trump’s plan for tariffs on steel and aluminium imports.

The former Goldman Sachs banker consistently fought against protectionist moves. Mr Cohn, a lifelong Democrat who headed the National Economic Council, was the latest in a string of high-profile departures, including Hope Hicks, who quit as communications director last week. Mr Trump’s administration has set records for staff turnover in its first 14 months.

Mr Cohn said: “It has been an honour to serve my country and enact progrowth economic policies to benefit the American people, in particular the passage of historic tax reform.

“I am grateful to the president for giving me this opportunity and wish him and the administration great success in the future.”

Mr Trump said: “Gary and did a superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again. He is a rare talent and I thank him for his dedicated service to the American people.” Mr Cohn had been critical of Mr Trump’s equivocal response to far-right violence in Charlottesville, Virginia, last summer.

He waited until after the stock market had closed to announce his resignation, avoiding any impact, and is expected to depart in the coming weeks. Mr Trump rejected suggestions he is having trouble filling jobs in his administration, saying: “Everyone wants to work in the White House.”

♦ Mr Trump has tumbled down the list of the world’s richest billionaires, dropping 200 places in the Forbes ranking as his fortune fell to $3.1 billion (£2.2 billion).