The conservative Wall Street Journal editorial page on Tuesday whacked President Donald Trump for handing Democrats what it said could be a winning campaign message in the 2026 midterm elections.
In particular, the Journal took aim at Trump for professing indifference to the price increases his tariffs are likely to inflict upon American consumers when he said that "I couldn’t care less" if car manufacturers raise prices in response to his tariffs. He further added, "I hope they raise their prices, because if they do, people are gonna buy American-made cars."
The Journal did not take kindly to this economic analysis on the president's part.
"Mr. Trump also ignores that U.S. car makers are also likely to raise their prices," the editors contended. "If Hyundai raises the price of an export model made in South Korea, then Ford and GM may at first try to capture market share. But over time the U.S firms would be foolish not to raise their prices to increase profits, perhaps by some margin less than the increase on imported cars. That’s what happened after Mr. Trump raised tariffs on washing machines in his first term. Washer prices rose nearly 12%, according to a 2019 study, and it didn’t matter where the machine was made."
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The Journal then hammered Trump for bungling not just the economics but also the politics of tariffs.
"As a political matter, Mr. Trump’s 'I couldn’t care less' quote about price increases is likely to show up in Democratic campaign ads next year," the editors warned. "Polling shows most voters don’t think Mr. Trump is focusing enough on reducing prices—64% say not enough in the CBS News survey released Sunday. Mr. Trump won’t be on the ballot in 2026, but you can bet TV ads will link Republicans in Congress to Mr. Trump and those comments."
