The Wall Street Journal wrote Wednesday that the tariffs announced today by President Donald Trump lead to a new era of commercial protectionism that will lead to the “end of economic leadership” of the country.
The Editorial Board of the Media pointed out, soon after the tariffs were known, that the United States is abandoning the leadership he assumed after World War II, after which seven decades of economic prosperity occurred.
“That era is coming to an end,” the medium affects, as the Republican leader adopts a “more commercial” vision of trade and the country’s own interest.
The WSJ also anticipates an increase in costs for US consumers and companies, something that, over time, will mean “gradual erosion of the United States, since these taxes favor monopolies” and reduce the need to innovate. “
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In addition, it emphasizes, will harm the country’s exports and break the commercial agreements with other countries, thus inviting reprisals by other nations.
According to the editorial board, a generalized retaliation could cause “a contraction of world trade and a slower growth, a recession or something worse.”
On the other hand, the newspaper emphasizes that the levies will cost the country a “considerable” loss of influence, since countries will not be able to trust EU.
“Trump believes that the attractiveness of the US market and his military power are enough to bend countries. But soft power also matters, and that includes being able to trust the United States word as reliable ally and a commercial partner,” he says.
Contrary to what Trump states, these tariffs are also a great opportunity for China, says the media, since the country could “court the US allies”, causing them to reject together to the US to impose “technology export controls” to the Asian giant.
Trump announced on Wednesday – it has baptized as “day of liberation” – the imposition of a 10% global tariff for all imports, which increases by 34% in the case of China and in 20% for the products of the European Union (EU).
In addition, EU will impose additional tariffs on very important commercial partners of US companies: 34% for China imports (now taxed with 54%), from additional 20% to the EU or 24% to Japan, among others.
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In February, Trump charged against the newspaper – always known for his conservative line – after he claimed that Michigan, a state in which the automotive industry is very present, would be weighed by tariffs on imports from Canada and Mexico.
“I do not understand the WSJ editorial board, I have never understood.
With EFE information
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