Trump's Tariff Obsession Takes Toll on US Economy

The Wall Street Journal editorial board has published a scathing critique of President Donald Trump's continued imposition of tariffs, citing their economic harm and unpopularity among voters.

In a piece published on Friday evening, the board argued that Trump's obsession with tariffs is causing significant damage to the US economy, particularly in light of the upcoming midterms. The tariffs, which have been reimposed under Section 301, are seen as a weapon used by the President to target specific countries and industries.

The WSJ board noted that the justifications for these tariffs are often flimsy, with Trump using them to pick targets and then finding pretexts for imposing them. For example, the US has imposed 25% tariffs on Brazil due to the country's left-wing leader Lula da Silva, while Section 338 of the Smoot-Hawley Act has been used to justify tariffs against Canada.

The board also pointed out that the Administration's claims about unfair foreign acts and policies are often unsubstantiated. They noted that the buoyant stock market is partly due to other factors such as the tax bill and the AI investment boom, rather than the tariffs themselves.