White House chief economic adviser Gary Cohn announced his resignation on Tuesday, saying it was an honor to serve but giving no reason for his departure.
The former chief operating officer of Goldman Sachs said in a statement that it was an honor to serve in President Donald Trump’s administration, specifically celebrating tax reform.
"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. I am grateful to the President for giving me this opportunity and wish him and the administration great success in the future," Cohn said in a statement.
The New York Times broke the story of Cohn’s impending departure Tuesday, and that report noted that Cohn is on the losing end of an internal conflict over Trump’s proposed tariffs:
The officials insisted there was no single factor behind the departure of Mr. Cohn, who heads the National Economic Council. But his decision to leave came after he seemed poised to lose an internal struggle amid a Wild West-style process over Mr. Trump’s plan to impose large tariffs on steel and aluminum imports.
Trump made a statement crediting Cohn for doing a "superb" job and also naming the tax bill.
"Gary has been my chief economic adviser 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."
White House officials said Cohn is leaving on good terms with Trump, and the two plan on discussing economic policy in the future.