Latest news with #TheGreatTrumpTariffRollback
Time of India
14-05-2025
- Business
- Time of India
WSJ comes down heavily on Donald Trump again; says the President surrendered to China in trade war
The Wall Street Journal wasn't shy this week when it ripped into US president Donald Trump's recent reversal of tariffs on Chinese imports, calling the move less a victory than a "major retreat", as per a report. WSJ Says Donald Trump's China Tariff Deal Looks More Like a Surrender In an editorial entitled "The Great Trump Tariff Rollback," the Journal's editorial board presented the deal as far from the "historic trade win" the White House touted it to be, according to DailyBeast. 'Rarely has an economic policy been repudiated as soundly, and as quickly, as President Trump's Liberation Day tariffs—and by Mr. Trump's own hand,' the board said in their criticism of the administration's action in reducing the tariffs on Chinese products from a record-high 145% to 30%, as per the report. China subsequently lowered its own levies from 125% to 10%. While the stock market applauded the news, rallying on Monday, the Journal wasn't so optimistic. 'The China deal is more surrender than Trump victory,' the editorial opined bluntly, as per DailyBeast. It also noted that 'Apart from the tariff rollback, neither side announced any broader concessions on the substantive trade issues that weigh on the U.S.-China relationship," quoted DailyBeast. The editorial also mentioned that, 'One tragedy of Mr. Trump's shoot-America-in-the-foot-first approach is that he's hurt his chances of rallying a united front of countries against Beijing's mercantilism,' adding that, 'By targeting allies with tariffs, Mr. Trump has eroded trust in America's economic and political reliability,' as quoted in the report. Live Events Feud Between Trump and the Wall Street Journal Heats Up Again This latest confrontation comes after Trump's long-standing feud with the Murdoch-owned newspaper. Trump lashed out at a Wall Street Journal reporter just last week, calling the newspaper "China-oriented" and adding that it had "gone to hell," reported DailyBeast. Later,the Trump administration said that Trump 'nuked' The Journal at the time, as per the report. FAQs Why is the Wall Street Journal criticizing Trump now? They believe rolling back tariffs looks like a surrender, not a win, and undermines Trump's own trade policy. What exactly did Trump do with tariffs? He cut US tariffs on Chinese imports from 145% to 30%. China lowered its own from 125% to 10%.
Yahoo
13-05-2025
- Business
- Yahoo
Murdoch Paper Torches Trump Over ‘Surrender' to China in Trade War
The White House touted the rollback of tariffs on China as a 'historic trade win' for the U.S., but The Wall Street Journal thinks it looked more like a surrender. In a piece titled 'The Great Trump Tariff Rollback,' The Journal's editorial board labeled President Donald Trump's latest move less a victory than a 'major retreat.' Markets soared on Monday after the Trump administration announced a 90-day pause in its heated trade war with China. The White House lowered its tariff on Chinese imports from 145 percent to 30 percent, while China dropped its levies from 125 percent to 10 percent. 'Rarely has an economic policy been repudiated as soundly, and as quickly, as President Trump's Liberation Day tariffs—and by Mr. Trump's own hand,' the board wrote in the scathing Monday piece. 'The China deal is more surrender than Trump victory,' it added. 'Apart from the tariff rollback, neither side announced any broader concessions on the substantive trade issues that weigh on the U.S.-China relationship.' It's the latest salvo in long-running tensions between President Donald Trump and the newspaper owned by his friend, the media mogul Rupert Murdoch. Last week, Trump told a Journal reporter who asked him a question that the 'China-oriented' publication has 'gone to hell.' The Trump administration claimed Trump 'nuked' The Journal at the time. The Journal has long rejected Trump's tariffs, which it branded 'the biggest economic policy mistake in decades' in an April editorial. The editorial board doubled down on those sentiments on Monday. 'One tragedy of Mr. Trump's shoot-America-in-the-foot-first approach is that he's hurt his chances of rallying a united front of countries against Beijing's mercantilism,' it wrote. 'By targeting allies with tariffs, Mr. Trump has eroded trust in America's economic and political reliability.' The Journal said the silver lining to the tariff chaos was that markets forced Trump to back down from his 'fever dream' that the punitive levies would usher in a new golden age. 'The age didn't last two months, and it was more leaden than golden,' the paper said.
