Wall Street Journal Slams Trump’s “Self-Destructive Tariff Folly”

Blue Press Journal – In a scathing op-ed published on Sunday, the Wall Street Journal’s editorial board blasted President Trump’s tariff policy, calling it a “self-destructive tariff folly” that is harming American farmers and businesses. The editorial comes on the heels of reports that the Trump administration is planning a $10 billion bailout for America’s soybean farmers, who have been severely impacted by China’s decision to stop buying American soybeans in retaliation for Trump’s tariffs.

The editorial board argued that the bailout is a clear indication that Trump’s tariff policy is not working as the president claims it is. “You knew it was coming,” the editors wrote. “As President Trump’s tariffs damage farmers and businesses across the U.S., the victims are besieging the Administration for relief. The long lines at the Commerce and Agriculture departments are the latest proof of self-destructive tariff folly.”

The editorial went on to point out that the looming bailout is a refutation of Trump’s claim that tariffs are cost-free. “They aren’t if, like soybean growers, you are the target of retaliation,” the editors wrote. “Mr. Trump likes to say that tariffs are a windfall for the Treasury, but not if much of that revenue is going back out the door in subsidies to offset the tariff harm.”

The Wall Street Journal criticized how tariffs are fostering new lobbying and special interest groups in Washington. “The farm fiasco underscores another truth about tariffs: they expand what Mr. Trump called ‘the swamp,’” the editorial stated. “Industries hit by tariffs are flocking to Washington to lobby for relief.”

The editorial emphasized that Trump’s tariff policy is detrimental to American farmers and businesses, urging the president to rethink his trade approach. With the soybean industry affected, it’s uncertain how the Trump administration will react and if it will reconsider its tariffs. One certainty is that the Wall Street Journal’s critique signals increasing opposition to Trump’s trade policies from the business community.