Gary Cohn isn't totally on board with the whole all-out trade war thing
Trump's top economic advisor, Gary Cohn, has quit. He's the latest in a series of high-profile resignations.
What it means: It's been reported that Cohn has quit because he doesn't like Trump's decision to impose heavy charges (called
) on steel and aluminium imports. To sum up: the idea behind the tariffs is to protect US steel and aluminium manufacturers. If it's more expensive to import, people will be more likely to buy American, which helps the industry out and provides jobs. It's known as
. The thing is, when Trump announced that plan people started getting scared there'd be a full on 'trade war' with other countries, including the EU.
It's not clear yet who Trump'll appoint in Cohn's place. Cohn – apparently a Democrat – had been a 'moderating' voice in Trump's team, although he did support other controversial Trump policies like his tax plan. He's the second person to resign in, like, two weeks. Trump's communications advisor Hope Hicks left last week.
We’ve moved beyond a world where your country was all that matters. Our economies have become bigger than we realise. Things we use are less and less likely to come from our own country and more likely to have been imported from a country across the globe – this has become so normal that we’ve forgotten what a huge implication this has for how our economies work…