Trump distorts economic history: controversy in The Wall Street Journal
The editorial board of The Wall Street Journal has openly criticized US President Donald Trump for misrepresenting the views of past American leaders, particularly regarding trade policies and historical statements made by former President Ronald Reagan.
The article emphasizes that Trump made inaccurate claims about Reagan’s speech, incorrectly asserting that Reagan supported tariffs for reasons of national security and economic protection.
The editors highlight that Reagan was a strong supporter of free trade, and his 1987 remarks aimed to explain why he occasionally made exceptions within his free-market principles, such as limiting imports of Japanese semiconductors.
They stress that these measures were temporary adjustments rather than a shift towards protectionism.
Unlike Trump’s tariff policies, which aim for sustained measures, Reagan understood that tariffs are taxes and recognized that protectionist barriers can stifle innovation and competition over time.
The article notes that despite the risks, US tariffs have not triggered a full-scale trade war, but they still negatively impact prices, consumer costs, and overall investment climate.
President Trump reacted sharply to a Canadian commercial citing Reagan’s anti-tariff statements, calling the video a fake and suspending negotiations with Canada.
The publication concludes that Trump’s policies are damaging to the economy and distort historical facts, all against the backdrop of ongoing legal challenges concerning the legality of his administration’s broader tariffs on major trading partners.