The Wall Street Journal editorial board on Monday denounced President Trump, calling plans to call other countries that would call tariffs “the stupidest tariff entry.”
board, editorial Trump, released Monday, noted that he often likes to call the stock market an economic indicator of his policies being successful.
They also wondered what he thought of Monday's charge when Dow Jones took a 650-point drop after it was confirmed that he intended to implement his tariff plans in Mexico, Canada and China a day later.
“We courted Trump's rage by collecting Mexico and Canada as “the most ridiculous” in history. “Mr. Trump is blaming his friends, not his enemies.”
The editorial board notes that the US automotive industry will be seriously affected as additional taxes collide with all cross-border transactions, allowing cars to cross the border “eight times” during assembly.
Americans woke up on Tuesday with an intensifying trade war as Trump's 25% tariffs on Mexico and Canada and a new 10% tariff on China.
Mexico is expected to announce its own tariffs later today with a 25% tariff on the $30 billion goods that hit the US in retaliation.
The Journal explained that it is not clear how long Trump will maintain tariffs when Americans began calling him “unstable.”
“Retaliation that hits a particular state or business can sometimes be reconsidered earlier than he imagines,” they wrote. “Investors are trying to read this uncertainty as they see increasing evidence that the US economy is slowing down.”
“The unlimited tariff man will always be a major economic risk in the second term, and we are here,” the board concluded.
