Mustafa AY – TDO – 07.03.2018 Gary Cohn, who’s been executing the duty of consultancy in the realm of economy, handed in his resignation letter to President Donald Trump. Prior to his consultancy in White House, Cohn’d taken part in the position of ‘manager’ in Goldman Sachs Banking & Finance Association. During his duty in White House, Cohn got involved in many successful processes, to specifically mention, in the preparation and enactment of the tax reform in December of 2017. In accordance with the reform, US government’s aimed at invigorating US economy through providing tax-cuts to the capital owners.
Even though Cohn played key role in White House, that he opposed to President Trump’s proposal of enforcing prohibitive tariff on steel and aluminum import triggered his resignation inevitably. Since the day Trump brought this proposal for agenda, the tension between USA and many Asian and EU countries unavoidably worsened. Trump’s tariff proposal is being deemed as an attempt to undermine and even end China’s economic influence in US market. Besides halting the economic advantage of China in US market, it has a profound effect on NAFTA countries whose most of exports depend on US market. Therefore, President Trump’s using the tariff as an effective leverage against Mexico and Canada in the matter of new NAFTA plan.