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Larry Kudlow is the new favorite to replace Gary Cohn

Larry Kudlow is the new favorite to replace Gary Cohn

More so than many of his predecessors, National Economic Council Director Gary Cohn played an outsized role in the Trump administration, serving as a key adviser on financial services policy matters, including topics like Dodd-Frank reform and top regulatory appointments.

Kudlow's selection would be especially noteworthy because he is an avid free-trader who is firmly opposed to the sweeping tariffs on steel and aluminum imports that the President signed last week - against the advice of Republican leaders on Capitol Hill and some of his own advisers.

Liddell, a former CFO for Microsoft and later GM, joined the administration early past year and has worked closely with Jared Kushner, the president's son-in-law and senior adviser.

Kudlow would also be a controversial choice as he is a recovering alcoholic who once had a $100,000 per month cocaine habit. His departure from the West Wing was announced last week and followed his break with Mr. Trump over the president's plan to impose tariffs on steel and aluminum. "I'm looking at Larry Kudlow very strongly", Trump said on Tuesday when asked about Cohn's potential replacement.

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"When the now-infamous Donald Trump-Billy Bush audio feed was released, my confidence in Trump all but evaporated", Kudlow once said. "We agree on most", Trump said. "I have to tell you, personally, I am urging Gary Cohn to stay and fight for another day".

In a cabinet meeting on Thursday, Trump teased Cohn for not being as strong on tariffs as he would prefer.

Trump then led a round of applause for the former Goldman Sachs executive, who was seated behind him.

The White House said this week that Cohn would leave his gig soon.