The Wall Road Journal on Wednesday issued a scathing critique of President Donald Trump’s so-called Liberation Day announcement vowing sweeping new tariffs on international locations worldwide.
In a sharply worded editorial headlined “Trump’s New Protectionist Age,” the newspaper’s conservative board warned of a number of methods the tariffs might backfire on Trump that the president “isn’t promoting.”
The board pointed to a spread of attainable repercussions, together with potential retaliation from overseas governments, greater costs for American shoppers, financial ache for U.S. exporters, and “the top of U.S. financial management.”
It additionally predicted China might try to increase its affect through the use of “its giant market to courtroom American allies.”
“That is removed from a complete listing,” the board famous, “however we provide them as meals for thought as Mr. Trump builds his new protectionist world.”
“Remaking the world financial system has giant penalties,” the editorial concluded, “they usually might not all add as much as what Mr. Trump advertises as a brand new ‘golden age.’”
