The conservative editorial board of The Wall Street Journal landed two blows regarding President Donald Trump. Trump’s " tariff mishap " – with the White House’s inventive take on the aftermath – saw Friday mark the continuation of two consecutive days of significant declines. market losses .
The sharp rebuke occurred just hours following the remarks made by the White House press secretary. Karoline Leavitt went on to assert that "the economy is beginning to surge" while highlighting a more robust-than-anticipated job growth in March.
However, Leavitt’s positive perspective includes a warning, as stated by the Journal’s board, who clarified this point for readers on Friday. opinion piece Trump now controls the economy.
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"Ms. Leavitt has to impress her supervisor, but wow. It might be wise to inform her that the March job estimates were finalized prior to Mr. Trump’s series of tariffs," the document reads. editorial board wrote.
The true takeaway from the jobs report is that the labor market and overall economy were strong in March," the statement continued. "This isn’t inherently positive for Mr. Trump if these conditions deteriorate following his initiation of a global trade war. While the President might attempt to attribute issues to Joe Biden or another figure, people recognize this as the Trump economy.
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The journal's board informed their audience that a Truth Social posting where Trump pressured Federal Reserve Chair Jerome Powell to "cut interest rates" implies "he might be more concerned than he acknowledges regarding how his tariffs could affect economic expansion."
"He claims to be indifferent towards the market nowadays, but you can rest assured he's keeping an eye on it. The S&P 500’s drop of 10.5% over two days following his announcement on Wednesday doesn’t exactly signal faith in Mr. Trump’s tariffs or policy decisions," the board stated on Friday.
The scenario triggered by Trump's "Liberation Day" tariff announcement This past week left the board perplexed as they tried to understand the president's economic strategy.
"What was he expecting?" questioned the conservative board members who form part of the publication’s editorial team. China imposing its own counter-tariff of 34% on American goods.
The board determined that "trade wars are simple to ignite, yet they can prove difficult to halt as soon as retaliatory measures come into play." They also stated, "Mr. Trump initiated this conflict, and thus he bears responsibility for whatever consequences arise concerning pricing, employment, and economic expansion."
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