Gary Cohn resigns; breaking down Trump tariffs

"The View" co-hosts discuss the latest departure from the White House and consequences of Trump's tariffs.
7:17 | 03/07/18

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Transcript for Gary Cohn resigns; breaking down Trump tariffs
Let's get to this because it's just so very interesting. The turnover at the white house keeps piling up with the exit of top economic adviser, Gary Cohn. Now, a lot of people are concerned about chaos in the west wing but the guy in the white house paints a very, very different picture. Take a look. Believe me, everybody wants to work in the white house. They all want a piece of that oval office. They want a piece of the west wing. And not only in terms of it looks great on their resume. It's a great place to work. It's got tremendous energy. It's tough. I like conflict. I like having two people with different points of view and I certainly have that. And then I make a decision. But I like watching it. I like seeing it and I think it's the best way to go. There are 300 vacancies and he just goes out there with these alternative facts. Everybody wants to work there. He just makes it up as he goes along and a lot of people still believe him. That's what's scary about it. It was interesting when we had Condi rice on the show. She said it's terrible that the state department isn't as staffed as it should be. Remember she said that? We don't have an ambassador to Germany which is a G 7 country and very important when it comes to global policy. I would love to Rick ren elle would get through because there are a lot of people who aren't holding positions. It anchors gers me. For the president to say everybody wants a job, where are they? We can basically unequivocally assure you not everyone wants to work in the white house. No. Especially when he seems as though trump is trying to turn the white house into an episode of the apprentice. There are Republicans who want to work in the white house. There are a lot of people who do it and I think general Kelly is an example because they think their patriotic duty to bring their influence into the white house. Gary Cohn comes from Wall Street and right now we're seeing up front and center this difference between the Republican party ideology meaning trump is nationalist. He thinks America first. Gary Cohn is a globalist and believes in the global economy. With these tariff coming up it's exemplifies the fracture within the Republican party and it looks like nationalism is winning. If a thinks that the guy in the white house stands for anything specific at all, it's variable. Where is the wind blowing. What's going on in my room. Is my hair okay. It's just, you know, it depends on the moment, the second, the day. What's also interesting is that the Republicans right now, they got their tax break so they were happy with that. But there's a huge deficit. These are the same people who don't like a deficit. They're not doing anything about this Russian interference. I mean, I'm old enough to remember when Russia was the enemy and the Republican party was obsessed with Russia, as were the Democrats. And now it just took this tariff thing to get Paul Ryan to open his mouth. Why? What was it about this that was a tipping point? Meghan made a good point in our "Hot topics" meeting about how these tariffs were unsuccessful under the bush administration. I didn't remember. Tax reform is unsuccessful also but it doesn't matter. It costs 200,000 jobs and was a $30 million hit to the economy. It was a disaster in the bush administration so I'm surprised it's even coming up. One of the things that he complained on that did sound the alarms with traditional conservatives like me. It's actually a really hard thing to do to find someone like Steven Moore and whoopi Goldberg, they're in agreement. It's hard to find anyone who's defending this right now. Why does he defend it? I think in his mind he thinks it will be a good -- he is an America first. He thinks there is a global war on our economy and that we shouldn't be trading with China in one way or another but I'm telling you -- He's got buildings over there with his name on it. He used China steel to build his hotel. When you're beer, your aluminum can in the Budweiser starts costing more and you have your second amendment rights infringed on, my bets are hedged that's when his base will start moving. If the Democrats end up winning the mid-terms, I think we're going to see a liberal president. He promised his base that he would do this and he needs them to love him, whether it's right or wrong. What's strange is his base is the rust belt which Democrats lost which ended up being the demographic that turned the election for him. It is beyond my comprehension -- I'm not trying to interpret it but it is bad, bad policy. People don't have to -- look, he's there. He's there. And so I always have thought, well, look, once it starts to -- once when he takes all the stuff out of the EPA and changes how all that's going to happen and dirty water starts coming out of your faucets again and all of these things that we thought were okay, that we actually bought the idea of clean coal, nobody said, wait, wait, clean coal. But people said that's what we want. But that's not really what we want. There's a lot of stuff happening, and I think now we're in it and people are leaving in droves for whatever reason. But whatever reason it is, it's just not good because it can't just be him in that house. The European union is retaliating right now and putting tariffs out. That's what's scary. This is happening in real time. The European union are saying that they are going to retaliate on steel, bourbon, cranberries, Orange juice. Not bourbon. Harley Davidson and Levi jeans are going to be impacted. This is an assault on Canada, too. Canada who fought with us in World War II, stood with us after 9/11, we're punishing them? What is he thinking? And putting our national security at risk. You have to know something about the government to know why this is a bad idea. Just as you pointed out so smartly, if you just look at history, history will tell you don't do that, it didn't work out the first time. It's not that complicated. It is but it's not and he as president should really know better. But I really fear when you're talking about Levis, Harley Davidson, American made bread companies that are going to be impacted -- Kentucky bourbon. We can always make bourbon, but you don't really want to poop all over what we do internationally. You just don't want to do that. It just makes no sense. The global economy, maybe he doesn't understand how it works. Most conservatives are mutinying against this. You said 80% of the Republican party are behind him. Second amendment, beer cans, this is going to start impacting the bottom line. And there you go. There you go. And we'll be right back with a can of beer and more "Hot

This transcript has been automatically generated and may not be 100% accurate.

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