Trump in WSJ op-ed: ‘My tariffs have brought America back’
President Trump praised his sweeping tariffs on foreign countries in an op-ed published in The Wall Street Journal Friday, arguing that they “brought America back.”
“When I imposed historic tariffs on nearly all foreign countries last April, the critics said my policies would cause a global economic meltdown,” Trump wrote. “Instead, they have created an American economic miracle, and we are quickly building the greatest economy in the history of the world, with other countries doing just fine!”
Trump clapped back at past warnings from “so-called experts, including those featured frequently in The Wall Street Journal” that the tariffs would hurt the economy and “trigger a ‘worldwide recession.'” He also defended the tariffs’ effect on the U.S. economy, claiming that what was once a “‘DEAD'” country over one year ago is now “the ‘HOTTEST’ country anywhere in the world!”
“In many cases, nations that are heavily dependent on exports have had no choice but to ‘eat’ the tariffs to avoid even worse losses from their excess capacity,” he continued. “So, while the average U.S. tariff rate on foreign products has increased by more than five times, inflation has fallen dramatically!”
Trump closed the op-ed claiming the tariffs contributed to strengthening national security before saying he “settled eight raging conflicts, WARS, and tariffs deserve much of the credit, including helping settle the extremely dangerous and deadly conflict between India and Pakistan.”
“Given the results of the past year, and the spectacular economic numbers coming out every single day, perhaps it is time for the tariff skeptics at the Journal to consider putting on one of my favorite red hats—the one that reads, ‘TRUMP WAS RIGHT ABOUT EVERYTHING!'” Trump wrote in closing.
Trump declared a national emergency in order to implement his tariff regime last year. Democratic and some Republican lawmakers could force a vote to repeal Trump’s national emergency authority when the House returns from recess in February. Reps. Don Bacon (R-Neb.) and Gregory Meeks (D-N.Y.) were among those who have said the national emergency needs to end.
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“The president is totally abusing his emergency tariff authorities and we can’t keep protecting him from his own actions,” Bacon previously told The Hill.
Meeks, the ranking member on the House Foreign Affairs Committee, leads several resolutions to end the national emergency and plans to call up votes on them. He warned that the Republican support for the national emergency “shows that the dam is beginning to break.”
Trump’s tariffs are also the subject of a pending Supreme Court decision that could determine their legality. The president warned earlier this month to lose “our ability to Tariff other countries who treat us unfairly would be a terrible blow to the United States of America.”
The Kiel Institute for the World Economy found that U.S. buyers bear 96 percent of the costs instilled from the tariffs. Firms passed on tariff costs to buyers because of, among other reasons, markets in Europe, Asia or elsewhere and with difficulties switching suppliers.
