'May have been mistaken': WSJ editorial nails businesses that were 'optimistic' for Trump

The Wall Street Journal's editorial board on Friday night jabbed businesses that expressed optimism for President Donald Trump's return to the White House.

A day after the Journal reported that Trump warned auto executives not to raise prices ahead of the enactment of his steep 25% tariff, the paper's conservative editorial board ridiculed the president.

"One bad policy decision inevitably leads to another to compensate for the damage, and that’s already true of President Trump’s new 25% tariffs on auto imports," the Journal chided.

Noting that Trump reportedly warned auto execs not to raise prices in response to his tariffs, the board sarcastically praised the president for finally "recognize[ing] in private that his tariffs aren’t cost-free for business or consumers, which wasn’t previously clear."

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The Journal compared Trump to one-time foe Kamala Harris — who once proposed going after food companies that price gouge — saying he "apparently thinks he can browbeat CEOs to cover up for them." During the campaign, Trump attacked Harris, dubbing her 'Comrade Kamala' who wanted to "institute socialist price controls."

But in his third month, it seems Trump may be pushing similar policies.

"Well, now Mr. Trump seems to be imitating Comrade Kamala to prevent catastrophic price increases from his auto tariffs," the Journal wrote.

Lower-riced sedans that are largely imported from Mexico, South Korea and Japan stand to see the harshest impact, the board said, though those tariff costs could extend to popular pick-up trucks and SUVs made in the United States.

"If higher prices reduce demand, the companies may lay off workers. Will Mr. Trump threaten those that do?" the board questioned.

The Journal concluded that companies that saw dollar signs when Trump won re-election may want to rethink that confidence.

"Businesses were optimistic when Mr. Trump returned to the Oval Office because they thought he understood how markets work. They may have been mistaken," the Journal said.