CAL THOMAS COMMENTARY MARCH 5, 2018
THERE IS MUCH TO LIKE ABOUT DONALD TRUMP’S PRESIDENCY, SO FAR, BUT LAST WEEK THE PRESIDENT MADE A HUGE MISTAKE THAT WILL HAVE SEVERE CONSEQUENCES.
THE PRESIDENT ANNOUNCED HE WILL IMPOSE TARIFFS ON NATIONS THAT EXPORT STEEL AND ALUMINUM TO THE UNITED STATES AND SELL IT AT PRICES LOWER THAN DOMESTIC MANUFACTURERS OF THOSE PRODUCTS.
HERE’S HOW THE WALL STREET JOURNAL EDITORIAL
BOARD REACTED: “DONALD TRUMP MADE THE BIGGEST POLICY BLUNDER OF HIS PRESIDENCY BY ANNOUNCING…HE’LL IMPOSE TARIFFS OF 25 PERCENT ON IMPORTED STEEL AND 10 PERCENT ON ALUMINUM. THIS TAX INCREASE WILL PUNISH AMERICAN WORKERS, INVITE RETALIATION THAT WILL HARM U.S. EXPORTS, DIVIDE HIS POLITICAL COALITION AT HOME, ANGER ALLIES ABROAD, AND UNDERMINE HIS TAX AND REGULATORY REFORMS. THE DOW JONES INDUSTRIAL AVERAGES FELL 1.7 PERCENT ON THE NEWS, AS INVESTORS ABSORBED THE SELF-INFLICTED FOLLY.”
THE PRESIDENT HAD BEEN DOING AN EXCELLENT JOB LIFTING THE ECONOMY. THIS DECISION WILL DO MORE HARM THAN GOOD. ONE HOPES HE WILL LISTEN TO SOBER ADVICE AND REVERSE, OR MODIFY HIS POSITION. I’M CAL THOMAS IN WASHINGTON.
