Published: Sun, March 11, 2018
Culture&Arts | By Laurence Reese

White House economic adviser Gary Cohn stepping down

White House economic adviser Gary Cohn stepping down

"But you know in his own way he's a nationalist because he loves our country".

The administration had already said Wednesday evening that Canada and Mexico would be initially exempted in whatever tariffs the president announces, although Trump said that could change depending on the results of negotiations over the North American Free Trade Agreement, or NAFTA.

President Trump bid farewell to Gary Cohn at a Cabinet meeting Thursday, telling his outgoing chief economic adviser that he still likes him, even though he's a "globalist".

"Many people wanting the job - will choose wisely", Trump said.

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In the past, the term "globalist" was used by "alt-right" activists to attack Trump's son-in-law Jared Kushner, who is also Jewish. As the Huffington Post puts it, "globalist" is "a reference to the longstanding conspiracy theory about an worldwide Jewish cabal working to undermine the traditional white family and Western culture by pushing for immigration and diversity".

The departure of Mr. Cohn, the National Economic Council director, expected to be finalized in a few weeks, will blow a hole in President's advisory team at a time when the economy is growing but stock markets are experiencing surges of volatility.

Trump in a move last week that surprised many of his top advisers wants to introduce stiff tariffs on the import of steel and aluminum.

White House chief economic adviser Gary Cohn announced his resignation Tuesday.

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"It looks like Gary Cohn has been completely unsuccessful in trying to stop the steel and aluminum tariffs", said Monica de Bolle, a senior fellow at the Peterson Institute for International Economics, a think tank. "I don't know if I can put him in the same position though", Trump said.

He indicated that the order could be tailored to exclude certain countries and give him the power to raise and lower the percentages on individual countries at will.

Mr. Cohns departure indicated Mr. Trump would proceed with the tariffs, Bolle said.

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