The Rupert Murdoch-owned Wall Street Journal eviscerated President Donald Trump over the reality of his beloved tariffs.
The newspaper’s editorial board published a scathing piece on Thursday evening, ripping the 80-year-old president over one of his signature policies as he seeks to “rescue his underwater job rating.”
Following Trump’s Truth Social brag on Tuesday, in which he took credit for Toyota’s announcement about a $3.6 billion expansion in Texas, the Journal asserted that the president likely had nothing to do with the decision.
The company shifted production of its Tacoma truck from Mexico to a manufacturing facility in San Antonio, and as the newspaper pointed out, only made reference to the state’s pro-business milieu and local political leaders. Neither Trump nor his Senate endorsee, Ken Paxton, were mentioned in Toyota’s press release.
“But the President is right that his tariffs are at work—in destroying U.S. jobs and raising prices,” the Journal wrote.
The editorial board highlighted how the U.S. has lost around 75,000 manufacturing jobs since Trump took office in January 2025, over a third of which were in motor vehicle and auto part production.
The paper cited rising vehicle costs due to Trump’s tariffs as one possible explanation for the job losses, as dwindling sales correlate with a lower need for workers.
Additionally, the newspaper emphasized that Trump’s tariffs have actually hurt Americans rather than helped, noting that foreign retaliation has affected U.S. farmers and raised costs for domestic manufacturers.
“Mr. Trump’s Section 232 national security tariffs on autos and parts have cost $35.2 billion through April of this year, and his steel and aluminum tariffs another $17.5 billion, according to U.S. government data,” the board wrote. “Mr. Trump and his advisers claim that foreigners pay his border taxes, but the evidence shows that U.S. companies, workers and consumers are picking up most of the tab.”
The Daily Beast has reached out to the White House for comment on the Journal’s editorial.
The Supreme Court ruled in a 6-3 decision in February that Trump’s sweeping global tariffs were unlawful, upholding the principle that only Congress may exercise the power to tax.
Despite the illegality of his initiative, Trump has continued to boast about the supposed economic benefits of his policy, even as Americans bear the brunt of higher prices.
The nation’s inflation rate has risen drastically month to month since February, when Trump launched his war on Iran.
It has risen by nearly two percentage points, from 2.4 percent in February to 4.2 percent in May. The Bureau of Labor Statistics is expected to publish its June report on Tuesday.
