US President Donald Trump announced sweeping retaliatory tariffs against ‘all countries’ on Wednesday — prompting outrage from various quarters. Several American media outlets were vocal in their criticism with one calling the announcement ‘worse than the worst-case scenario’. Many publications insisted that the tariffs — ranging from 10% to a whopping 49% — against almost all imports from 185 nations heralded a ‘shift in the global economic order’.
The Wall Street journal issued a scathing critique of the ‘Liberation Day’ announcements through an editorial headlined ‘Trump’s New Protectionist Age’ — outlining the many ways in which the tariffs could backfire on the POTUS. The somewhat conservative board of the newspaper claimed that Trump was not ‘advertising’ these issues and noted that his promise of a ‘golden age’ might not come to fruition.
Meanwhile the front page of the New York Times noted that the tariff announcements went “far beyond what many economists and analysts had expected”.
The Wall Street journal issued a scathing critique of the ‘Liberation Day’ announcements through an editorial headlined ‘Trump’s New Protectionist Age’ — outlining the many ways in which the tariffs could backfire on the POTUS. The somewhat conservative board of the newspaper claimed that Trump was not ‘advertising’ these issues and noted that his promise of a ‘golden age’ might not come to fruition.
“This is far from a comprehensive list,” the board noted. “But we offer them as food for thought as Mr. Trump builds his new protectionist world…Remaking the world economy has large consequences and they may not all add up to what Mr. Trump advertises as a new ‘golden age’,” the editorial concluded.
Meanwhile the front page of the New York Times noted that the tariff announcements went “far beyond what many economists and analysts had expected”. The publication also said that the move was likely to “drive up prices for American consumers and manufacturers while inciting retaliation from other nations”.
A CNBC anchor appeared to be stunned by the announcements calling the market reaction after hours unprecedented.
“This ― I think, fair to say ― is worse than the worst-case scenario of the tariffs that many in the market expected the president to impose,” said Closing Bell co-anchor Jon Fortt.
An analysis published by CNN also said that Trump had taken a political gamble by launching a historic global trade war…and “brought every American with him”.
“He went with a lifelong belief in the mystical power of making imported goods uncompetitive to boost domestic production. No matter that trade wars tend to end badly and that tariffs are more a feature of the 19th century than the 21st,” said.
Fox News — which Trump has praised repeatedly over the years — took a softer stance as it reported on the ‘historic’ announcement. The publication however noted that the goals outlined by the Trump administration were somewhat ‘contradictory’.
At least 19 members of the current Trump administration had been affiliated with the publication before they assumed roles in the White House — from pundits and personalities to producers and anchors. Top US officials have also appeared on the Fox News channel in recent weeks as Trump teased tariffs without divulging details.
Talk shows and satirical news programs such as The Daily Show and Stephen Colbert have also criticised the move during episodes aired on Wednesday. Daily Show correspondent Michael Costa noted that the Trump campaign had repeatedly insisted that Americans would not pay for tariffs prior to the 2024 elections.
“Trump was very honest during the campaign that tariffs would drive prices higher, right? Right? In his defense…he was lying,” Kosta jibed.