The Wall Street Journal came out with its verdict on the tariff war between the US and China and declared China as the winner of this round. But the good news is that at least Trump is finally listening to reality, the editorial Board of the Journal noted. While Trump has been asserting that negotiation with China is on, China refuted the claims and said no talks are on and will be on unless the 145 per cent tariffs are revoked.
“The good news is that at least Mr Trump is finally listening to reality. The CEOs of Walmart, Home Depot and Target paid a visit to the White House this week and told Mr Trump prices would soon rise and store shelves might soon be empty as the tariff impact grows. This would be more than the “little disturbance” Mr Trump warned about when he first unveiled his tariff barrage,” The Journal wrote.
“Another harsh reality is that China called Mr Trump’s bluff and seems to have won this round. When Mr Trump imposed his tariffs in the first term, President Xi Jinping retaliated with some restraint and sent a delegation to negotiate a trade deal.”
“This time he retaliated in tit-for-tat fashion and pushed all of his anti-U.S. economic and diplomatic levers. He has cut off U.S. access to crucial rare-earth minerals, stopped the delivery of Boeing jets, looked elsewhere for food and natural-gas imports, and unleashed regulators against American companies,” Journal said.
Trump’s two-word response to Journal’s verdict
Trump had to deal with two negative verdicts — one from a Fox News polling that said his approval rating was underwater and the second, this verdict from the Journal. Trump trained his gun at Rupert Murdoch, whose family holds shares in both these companies. “Rupert Murdoch has told me for years that he is going to get rid of his FoxNews, Trump Hating, Fake Pollster, but he has never done so. This “pollster” has gotten me, and MAGA, wrong for years. Also, and while he’s at it, he should start making changes at the China Loving Wall Street Journal,” Trump said.
“It s**ks,” Trump wrote in his two-word reaction.
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