The conservative Wall Street Journal editorial board was none too happy about President Donald Trump's latest "senseless" tariff order — this time a 50 percent punitive attack on Canada for perceived unjust trade practices.
The president has tried multiple times to issue broad-based tariffs around the world, which federal courts have slapped down. This also comes as Trump caused international tension by delaying opening of a critical international bridge set to boost trade between the U.S. and Canada.
'The White House on Monday exhumed Section 338 of the 1930 Tariff Act to impose 50% tariffs on hundreds of Canadian goods, including hockey sticks, honey, beer, down feathers, fishing rods and golf clubs," wrote the board, noting that they don't take effect for another month — a clear indication Trump wants to use them as a bargaining chip.
This power, which comes from the so-called "Smoot-Hawley Tariff" often blamed for exacerbating the Great Depression, "was intended to let the President retaliate against countries that impose tariffs on the U.S. Mr. Trump is using the law to punish Canada for retaliating against his tariffs. His tariff order cites Canada’s 25% tariffs on U.S. cars that exceed certain quotas, which were a response to Mr. Trump’s 25% duties on motor vehicles and parts."
These moves are colossally counterproductive to the economy of both countries, the board lamented: For instance, "A study in March found that the tourist dropoff has cost between 14,000 and 42,000 jobs in the U.S. markets most exposed to Canadian tourism. Northern border areas have also suffered from a decline in cross-border trade."
The American people are already running out of patience, the board warned.
"The more Mr. Trump keeps swinging recklessly, the more Americans are likely to think there’s only madness in his tariff methods," the board wrote.