Gary Cohn, President Trump's chief economic adviser, will resign from his post, the White House confirmed Tuesday.
Cohn has reportedly been discussing his transition out of the administration with Trump for the past several weeks, and he apparently tried getting the president to change course regarding his planned tariffs on imports of steel and aluminum.
His resignation is the latest in a series of high-profile departures from the Trump administration.
Trump, in a statement to The New York Times, said Cohn "did a superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again."
"He is a rare talent, and I thank him for his dedicated service to the American people," Trump said.
“Gary’s as good as they come," Sen. Orrin Hatch, R-Utah, said of Cohn's imminent departure. "He was a heavy weight during the tax debate, helping to successfully deliver pro-growth tax reform to the American people. His keen instincts, wisdom and talent will be sorely missed in this administration.”
Texas Republican Rep. Kevin Brady, the Chairman of the House Ways and Means Committee, said "Gary Cohn served the President for all the right reasons – to change the direction of America for the better. He succeeded."
"Gary was pivotal in getting President Trump’s tax cuts across the finish line and energizing America’s economy. With his partnership and leadership, Congress and the Administration delivered historic tax relief that is helping bring jobs back home and increasing paychecks for families across the country," Brady said. "I am deeply thankful for his service and wish him the best of luck.”
Cohn, according to Rep. Jeb Hensarling, R-Texas, "has been a strong voice for free markets and one that will be missed."
"His hard work on many of the Administration's biggest pro-growth policy initiatives – particularly tax reform and financial regulatory reform, which I had the opportunity to work with him on – have improved the lives of all Americans and set the stage for even greater economic growth in the future," Hensarling added.
Fox News' Mike Emanuel, Adam Shapiro, Laquasha Banks and Kaitlyn Schallhorn contributed to this report.