Watch CBSN Live

Trump says top economic adviser Kevin Hassett leaving administration

Markets react to proposed Mexico tariffs

Kevin Hassett, the chairman of the White House Council of Economic Advisers, is leaving the administration, President Trump announced in a tweet Sunday night while aboard Air Force One.

Hassett's departure comes as many economists and business constituencies like the Chamber of Commerce warn the president against imposing tariffs on goods imported from Mexico. The president has threatened to begin doing so next week if Mexico doesn't stop illegal border crossings into the U.S. Stocks have slumped since Mr. Trump announced the tariff threat on Twitter last week. 

The president, making the announcement en route to the United Kingdom, said Hassett's "very talented replacement will be named" as soon as he returns.

"Kevin Hassett, who has done such a great job for me and the Administration, will be leaving shortly. His very talented replacement will be named as soon as I get back to the U.S. I want to thank Kevin for all he has done - he is a true friend!" the president tweeted Sunday evening

Hassett served as chairman of the CEA since September 2017. Hassett, with a knack for citing statistics, has long praised the president's policies as spurs for economic growth — both on television and in White House briefings, when those were more frequent occasions.

View CBS News In