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Trump's chief economic adviser Gary Cohn to leave White House post

Gary Cohn is calling it quits as President Donald Trump's top economic adviser, with the administration poised to implement a series of protectionist trade policies.

"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," Cohn said in a statement released by the White House. "I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future."

No single incident led to his decision to leave, according to The New York Times, which broke the news March 6. However, the ex-Goldman Sachs banker was a free-trade supporter and is leaving after Trump said last week that he would impose onerous tariffs on imported steel and aluminum. That announcement, coupled with retaliatory rhetoric from overseas, sparked concerns in the markets about the prospect of a full-out trade war.

"Gary has been my chief economic advisor 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 the White House statement. "He is a rare talent, and I thank him for his dedicated service to the American people."

Cohn is leaving after a number of other major staff resignations, including Communications Director Hope Hicks and White House Staff Secretary Rob Porter.