Murdoch Paper Savages Trump After His Embarrassing Defeat
The Daily Beast • • nation
Key Points:
- The Wall Street Journal editorial board urges President Donald Trump to abandon his tariff policies after a U.S. trade court ruled his latest global 10 percent import duty illegal under Section 122 of the 1974 Trade Act.
- The court found that Section 122 permits tariffs only to address “balance-of-payments deficits,” not the trade deficits Trump cited to justify the tariffs, marking his second legal defeat on tariffs.
- The Journal notes the tariffs' temporary nature, as Section 122 allows duties for only 150 days, but argues Trump’s persistent tariff strategy is economically harmful and politically unpopular.
- Federal Reserve research links tariffs through November 2025 to a 3.1 percent rise in core goods inflation, directly increasing consumer prices, while rising gas prices from tensions with Iran risk further inflation.
- Public approval of Trump’s economic policies remains low at 31 percent, with analysts calling the tariffs a major political misstep, though Trump continues to support them despite seeking an exit from other political challenges.
