Wall Street Journal Editorial Condemns Trump's Trade War With Canada

Evan Vucci/Reuters The Rupert Murdoch-owned Wall Street Journal blasted Donald Trump for reigniting a trade war with Canada just weeks away from the midterms.

The newspaper’s editorial board savaged the 80-year-old president for announcing a sequel to his “dumbest” tariff plans against a close ally and neighbor by imposing 50 percent import levies on $20 billion worth of Canadian goods over the weekend.

In turn, Canadian Prime Minister Mark Carney said that the country is being “attacked” by Trump and vowed to match the U.S. tariffs “dollar for dollar.” The Journal’s editorial board questioned why Trump has decided to escalate a tariff war with Canada when it makes no “economic or political sense” and during a particularly crucial period for the president and the GOP.

“President Trump took exception last year when we called his tariffs against Canada and Mexico the dumbest trade war in history,” the board wrote.

“It got dumber this weekend as Mr.

Trump escalated with another round of border taxes on Canadian imports, a mere 10 weeks before midterm elections.” Trump’s tariff plans against Canada came into effect on Saturday after talks between the two countries to stop the potentially devastating levies broke down.

The tariffs target a long list of Canadian exports, including hockey sticks, agricultural products, wine, and cement.

The tariffs will be paid by companies importing those goods into the U.S., with the cost eventually passed on to consumers.

Trump’s tariffs were imposed under a long-dormant law, Section 338 of the Tariff Act of 1930, which allows a president to set tariffs against countries that discriminate against “commerce of the United States, directly or indirectly.” Trump is the first U.S. president to use the Depression-era law to impose tariffs.

Carney warned that the Canadian government would impose retaliatory measures against the U.S. starting Sept.

8.

The Journal’s board noted that both sides could “still walk back from the ledge,” but Trump’s escalation could “make this harder for Mr.

Carney politically since Canadians don’t like being bullied by Washington.” A fresh trade war, with the cost trickling down to U.S. consumers, could further exacerbate the financial hardships of tens of millions of Americans already suffering in a cost-of-living crisis.

The president has been recording dire approval ratings on the economy throughout his second term, as voters turn on Trump over his original tariff plans and the war in Iran, which has sent gas prices soaring.