Trump blitzed by Wall Street Journal for 'destroying US jobs and raising prices'
President Donald Trump's boast on Truth Social that his tariff war spurred Toyota to move its Tacoma truck manufacturing operations to the U.S. was drowned in derision by the editorial board of the Wall Street Journal this week.
The conservative WSJ board on Thursday rained on Trump's parade by pointing out that the manufacturing move should be celebrated, but, in the larger picture, his tariffs have been a disaster and Americans are still furious.
"The President is right that his tariffs are at work—in destroying U.S. jobs and raising prices," the editors wrote.
"Mr. Trump’s Section 232 national security tariffs on autos and parts have cost $35.2 billion through April of this year, and his steel and aluminum tariffs another $17.5 billion, according to U.S. government data."
Since taking office in January, the U.S. has hemorrhaged roughly 75,000 manufacturing positions. More than one-third evaporated directly from the automotive and related parts sectors—the industries Trump claims to be protecting.
The board argued the administration's tariff experiment has obliterated American manufacturing.
"Mr. Trump and his advisers claim that foreigners pay his border taxes, but the evidence shows that U.S. companies, workers and consumers are picking up most of the tab," the board wrote.
Add to that, they asserted Trump is forcing consumers to balk at buying new cars over economic uncertainty.
"Many are driving clunkers for longer—and paying more for repairs if they break down—or buying used cars," the editorial stated. "New vehicle sales have averaged 15.9 million in the first half of this year, down from the 17 to 18 million in the five years before the pandemic.
"When people buy fewer cars, auto makers don’t need as many workers. His trade oscillations and border taxes are a major reason the economy hasn’t performed as well as during his first term, and why Americans are so unhappy."