Trump's top economic adviser resigns
Washington: Former Goldman Sachs executive Gary Cohn resigned on Tuesday from his post as chief economic adviser to President Donald Trump due to disagreement with the White House plan to impose tariffs on imports of steel and aluminum.
"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," the 57-year-old Cohn said in a statement.
His resignation reportedly will take effect in the coming weeks.
"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," said Trump in a statement released by the White House.
Cohn is the latest in a long list of Trump's close advisers to resign and the announcement comes just a few days after the departure of the president's faithful adviser and communications director, Hope Hicks.
The president announced last week that he would impose the tariffs despite the opposition of a large number of Republican lawmakers and Cohn.
The departure of Cohn, a Democrat who is a defender of free trade, could have a domino effect on the president's economic decisions and on the financial sector, given that last August the mere threat of his exit caused the investment markets to tumble.
Indeed, in after-hours trading, one exchange-traded fund measuring the broad US stock market - the SPDR S&P 500 ETF Trust (SPY) - fell more than 1 percent after the news of Cohn's resignation broke.
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Annamalai withdraws from race for BJP Tamil Nadu President’s post, wishes well for successor
Coimbatore: BJP Tamil Nadu President K Annamalai announced on Friday that he was not in the race for the post of the state chief of the party, adding that he had no intention of retaining his position as state president.
Addressing reporters here, Annamalai said that he was withdrawing in the best interests of the party, firmly refusing to comment on political speculation. He also wished well for his successor to the top post of the party in Tamil Nadu.
He stated that several members had contributed to the growth of the party and that the BJP was a party where an election and not competition was held any post in the party.
