Gary Cohn, President Donald Trump’s top economic adviser, has been rumored to be on the brink of leaving the White House for months but stayed for one main reason: to stop the president from imposing steep tariffs.
By Thursday afternoon, Cohn had lost the fight.
In a meeting with steel industry executives, Trump announced plans for a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports.
White House press secretary Sarah Huckabee Sanders said Thursday that more details on the tariffs — including possible exemptions — would come next week. An industry official said there would not be any tariff exclusions for countries or products except for imports required for military equipment needs, though Trump could still change his mind on the issue if he faces prolonged criticism in the coming days.
Read more at Politico.