Editorial Board
‘Liberation Day’ Tariffs Won’t Make America Wealthy
Companies aren’t about to invest in the US without knowing how high import barriers might be next month or next year.
The White House’s eagerly awaited announcement on tariffs marks, as promised, a stunning departure in US trade policy. Its reach and ambition are startling — which adds to the uncertainty weighing on investors, businesses and consumers. If the goal really is to encourage investment in US manufacturing, as officials insist, they should look for ways to change course quickly.
The new policy seems designed to spur negotiations, forcing trade partners to reconsider their own barriers. It’s thus a work in progress, with no clear end.