He said that tariffs were all wrong
And now the goofy Cohn-head's gone.
Posted on 03/06/2018 2:41:22 PM PST by CaptainK
ary D. Cohn, President Trump’s top economic adviser, plans to resign, becoming the latest in a series of high-profile departures from the Trump administration, White House officials said on Tuesday.
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.
“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,” Mr. Trump said in a statement to The New York Times. “He is a rare talent, and I thank him for his dedicated service to the American people.”
Mr. Cohn is expected to leave in the coming weeks. He will join a string of recent departures by senior White House officials, including Mr. Trump’s communications director and a powerful staff secretary.
(Excerpt) Read more at nytimes.com ...
Doubtful. The next couple of days will be...volatile.
What does this me? It means Trump refused to back down on tariffs.
Cohn was foolish to think Trump would change his mind. Trump won the presidency on his economic nationalist message. If he backed down now, he would loose re-election.
He got the corporate tax cut/ middle class tax increase passed, that’s all these Goldman Sachs mieskeits really cared about anyway.
Look for Mnuchin to leave real quick too.
Awesome news. Tired of Goldman Sachs having its armpits in the face of the POTUS like it did under Bush and Obama. The POTUS is there for Americans not double dealing investment bankers.
Bwahahahaha...Another “expert” who thinks tariffs will start a trade war!
Bring on a trade war! A big one!! Worth $800,000,000,000.00 EVERY YEAR!!!
That $800 Billion = loss of jobs in those countries which have that ugly big foreign trade surplus with us. We can manufacture that $800 Billion worth of goods right here in the good ole USA. We have the know-how, we have cheap energy sources, and we have fewer regulations and restrictions on business, thank you president Trump.
In a trade war, the only countries which lose are those with trade surplus. This is so elementary, I can not believe the career politicians are trying to scare us. I guess their handful ultra-rich donors are not happy because they have invested Trillions in foreign countries to exploit cheaper labor.
Another Rat bites the dust. Bye.
All these resignations, and the one guy who really should resign, is still sitting there recused.
Opposition to this specific kind of tariff is based on philosophy, ideology, and “what if” fears based on projections about what might happen in the future.
President Trump’s advocacy for them is based in economic reality. We’ve tried it “their way” for a long time, and we see how well that’s worked. Now it’s time to try something different. Each situation is unique and that’s why ideology is just an anchor, solving actual problems based on ground truth current information is how progress is made. Cohn helped line up the pieces, now it’s MAGA time and thanks for your service.
Sowing FUD (Fear Uncertainty and Doubt) is the first weapon used to maintain the status quo. Screw the status quo, because it is screwing US!
The market has no doub topped for the short and possibly long term. Businesses are not priced for higher input cost, especially unknown cost. American steel like textiles will not return to yesteryear, but the cost of attempting to tariff it back may very well cost all of us. Been a Trump fan from day 1 but this bull in the China shop mentality is pure idiocy.
You are so right!!!
Mexico, S. Korea, EU and China will be the big losers because of their trade surpluses.
I’m looking forward to this “war”.
Cohn helped with the heavy lift of tax cuts. that was an achievement. i don’t know if the threat of tariffs is just a negotiating device for Trump or not - he has a tendency to throw out his most dramatic deal first (to wit, DACA) with negotiations to follow. if Cohn doesn’t want to be associated with the imposition of same, he is right to resign. i don’t agree with his more liberal views, but respect him for being true to himself. it is better for the President as well.
Tariffs. This is how Mexico pays for the wall. Congress will not appropriate the Wall Money, so the President is out to get the money himself.
SSsssshhhhhhhh. Do not say mush about it.
The market will be at an all time high by the end of the year. Why? Buybacks.
“Goldman Sachs expects corporations to buy back a net $590 billion in shares in 2018, up 27% from last year”
I think $590 is conservative. Already had $171 billion announced so far this year and it is only 1st week of March. Wouldn’t be surprised if buybacks hit $1 trillion in 2018.
If this is what chaos in the White House looks like I’m all for more chaos!
He can go work for Paul Ryan now.
ANNNND there goes another one.
And I got to tell you I am not to happy, with Moore, Laffer and Kudlow, all singing the Globalist Hymn. Look I get it, I studied comparative advantage and the Maine Potato farmer trades his Potato's with the Argentinean Beef Rancher and they both eat Steak and Potato's.
However we are getting our clocks cleaned by the back end of NAFTA and who Canada and Mexico are using to outsource parts or main components to get the products here even cheaper and even duty free, it is a scam, we have been played and if it take these bleeping tariffs to get the Chinese and who ever else to realize we are not playing this time good.
Long term I want a steel industry that is possibly number one, I want an Aluminum Industry that is that good also.
We will need more Aluminum for lighter cars, ( they can be just as strong ) good I want American Aluminum, not the Chinese getting the foot in the door ( Sorry Mark Levin and your 2% stuff no cut them off at the knees I watched the rise and dominance of Japanese Cars and Bikes in the 80's and let's stop it before it happens, and yes our metals will have to be world class +, not be weak like the big 3 were and they couldn't counter punch fast enough ) Ditto that Steel.
Andy by the way, we are now the King of Oil and if we stop flaring all the Fracking sites, we will be the King of Gas too.
So you can make Steel with Natural Gas? You can use Natural Gas to create electricity for the AL smelting process, so we will have plenty of it, no international shipping, our shipping will get the price down even lower with Natural Gas Trucks, Ships and Trains, so how do we loose by buying and making it here?
I Don't see how we loose here...
The only people to loose are the Gucci-Loafer-Lizzards on K-Street. Can we get them in a retraining program to become welders?
Mark R. Levin
@marklevinshow
Mr. President, it’s time to can this fool Gary Cohn. You said you support the coal miners. Now this Goldman... (link: http://fb.me/15hlBAjXy) fb.me/15hlBAjXy
3:23 PM · May 26, 2017
Oh, yeah, I forgot...
"You're FIRED!"
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