Wall Street Journal editorial board tears into Trump’s trade policy

The Wall Street Journal’s editorial board tore into President Trump’s trade policy on Tuesday, warning that Republicans may suffer in the 2018 midterms due to the president’s tariffs. 

“The damage is likely to have political consequences, as the retaliatory tariffs target industries in swing states,” the board said, citing states such as Wisconsin that went heavily for Trump in 2016  but are deeply affected by his administration’s tariffs. 

“Mr. Trump is also going to have some explaining to do to Wisconsin cranberry farmers, Florida orange-juice producers, and Iowa soy and corn growers,” the editorial said. 

The board cited Harley-Davidson’s decision to move production of motorcycles bound for European countries out of the U.S. due to European Union tariffs on its products.

“Harley said ‘the tremendous cost increase, if passed on to its dealers and retail customers, would have an immediate and lasting detrimental impact to its business in the region, reducing customer access to Harley-Davidson products and negatively impacting the sustainability of its dealers’ businesses.’ Translation for Mr. Trump: Unlike real estate, cars and motorcycles are a global market,” the board wrote. 

Trump’s global trade war has escalated with various U.S. allies in recent weeks. 

Trump last week threatened to impose a 20 percent tariff on all European cars entering the U.S. and had ratcheted up his rhetoric on trade with Canada and Mexico, making the future of the North American Free Trade Agreement (NAFTA) uncertain. 

The president has also instituted additional tariffs against China over alleged theft of U.S. intellectual property.