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Christopher Liddell may replace Gary Cohn at the White House

Stocks open lower after Trump's economic advisor quits

The president made the decision at a hurriedly put together White House meeting in which he invited CEOs from the nation's biggest producers, despite warnings from his own economic advisers that the plan could be risky, and without the usual preparation for detailing how the policy would be implemented.

Now Navarro, 68, an abrasive former economics professor who has called China "the planet's most efficient assassin", is at the apex of Trump's team.

From the Presidential campaign, Mr.Navarro made the leap to the new administration to head a new White House National Trade Council.

Chris Liddell, a former executive at Microsoft Corp and General Motors Co, is under consideration to become U.S. President Donald Trump's top economic adviser, a White House official said on Sunday, confirming media reports.

"We're going to have sensible relations with our allies", he told CNBC, claiming that Mr Trump's policy was well "thought through".

The president and the combative Navarro share the same hard-line views on trade that were a centerpiece of Trump's campaign. "He's not quite as strong on those tariffs".

Confirmation of the trip came on the heels of a lawsuit filed against California by the U.S. Department of Justice challenging a trio of state laws that offer protections to people living in the country illegally. With Council of Economic Advisers Chair Kevin Hassett, he ran point for the White House on the big tax-cut bill.

Congressional pressure instead might force Trump to revise his initial proposal to impose a 25% tariff on imported steel and a 10% tariff on aluminum. Trump recently declared that "trade wars are good, and easy to win".

A day away from the president's expected official action, his spokeswoman did say Mexico, Canada or other countries may be spared under national security "carve-outs", a possible move that could soften the tariff blow.

"This is Gary Cohn's last meeting of the Cabinet". So initially, what was meant to be an hour-long meeting ended after about forty-five minutes, and Chung Eui-yong and Suh Hoon headed to the Oval Office to meet with President Trump at 4:15. They spoke only on condition of anonymity to discuss internal administration roles.

In recent days, Trump told advisers that his experience in business gave him an edge in deciding what to do on tariffs.

"He's been terrific. He may be a globalist, but I still like him", Trump said at the White House.

In the end though, said Paul, "I think it's pretty clear that the president is siding with the economic nationalists".