By Kate Davidson

Kevin Hassett, a top White House economic adviser, said Monday his planned departure isn't related to President Trump's announcement last week that he would impose tariffs on Mexico unless it steps up its efforts to stop migration to the U.S.

Mr. Hassett, who was confirmed as chairman of the White House Council of Economic Advisers in September 2017, said his plan to step down had been in the works for a little while, characterizing his two-year run as a standard term.

"I think the longer you stay in the White House, the closer you get with everyone in the West Wing, the harder it might get to remain objective," he said in an interview with CNBC.

Asked if he was a fan of tariffs being used as leverage for an issue outside of economic policy, Mr. Hassett said, "I don't give advice about things like border security, but I can say, if you look, the Mexicans are at the table."

He said the impact of the tariffs are much larger on Mexico in the near term than on the U.S., but wouldn't say how likely it was the tariffs would remain in place for an extended period.

"We're hoping for positive talks," he added.

Mr. Hassett said he would remain in his position for another month or so. He declined to comment on who might replace him, or whether he had recommended a potential successor to the president.

One potential successor to Mr. Hassett could be the CEA's chief economist, Casey Mulligan, an economics professor at the University of Chicago. The two other members of the council are Tomas Philipson, a health economist from the University of Chicago, and Tyler Goodspeed, who has researched the history of money and banking.

The CEA over the years has been staffed with some of the economics profession's most prominent academics. Before leading the Federal Reserve, Alan Greenspan, Ben Bernanke and Janet Yellen all chaired the CEA.

Mr. Trump said on Twitter Sunday night that Mr. Hassett was leaving the job and a successor would be named soon.

"Kevin Hassett, who has done such a great job for me and the Administration, will be leaving shortly," Mr. Trump wrote on Twitter on Sunday not long after Air Force One departed for a trip to the U.K. "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!"

Write to Kate Davidson at kate.davidson@wsj.com

(END) Dow Jones Newswires

June 03, 2019 09:40 ET (13:40 GMT)

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