WSJ Editors Warn: Trump’s Actions Are a ‘Deadweight’ on Both the Economy and American Citizens

The Wall Street Journal’s conservative editorial team messed up with their coverage of the topic.
Trump administration
Friday evening over its
the most recent attempt to “punish Americans.”

The Trump administration unveiled on Thursday
new charges for vessels built or operated by China-based entities
Docking at U.S. ports comes with additional fees as part of an extensive initiative aimed at reducing China’s supremacy in ship construction and sea transportation. This move follows conclusions drawn by U.S. trade authorities that determined China’s shipbuilding industry had gained undue competitive benefits.

However, the editors of the Journal were not particularly enthusiastic about the idea.

Interested in getting the latest political updates?
Tap here for the newest stories from Raw Story.

ALSO READ:
Disturbing”: Tiny colleges coerced into silence as Trump presents “significant danger.

“President Trump hit Americans with yet another tax late Thursday when his administration introduced new charges on Chinese ships arriving at U.S. ports,” the board noted, despite Jamieson Greer, the U.S. trade representative, “moderating his earlier harsh suggestion of imposing levies on Chinese shipping firms and all carriers utilizing China-made vessels every time they dock at a U.S. port.”

The Journal indicated that Trump’s updated strategy will “continue to cause significant issues and expenses for American companies and consumers.”

This is due to Chinese-operated vessels being subject to levies of $50 for every net ton on their journeys to the United States starting from mid-October. The fee will jump to $140 within three years. Furthermore, any carrier not based in China but utilizing ships constructed in the country will also incur costs of $18 at first, with this amount increasing over time as well.

“As Chinese vessels constitute an increasingly significant portion of the worldwide maritime fleet, carriers will inevitably transfer these expenses to their clients,” the Journal cautioned.

The board concluded, “None of these industrial policies are likely to restore American shipbuilding to greatness. Similar to the tariffs, they will prove ineffective.”
burden on the U.S. economy
.”