The reaction among US business leaders to President Trump's newly imposed tariffs on Canada, Mexico, and China is divided. While the Wall Street Journal criticized the tariffs as 'the dumbest trade war in history,' Trump suggested they are necessary for national security, citing issues like illegal immigration and drug trafficking as justifications. The tariffs include a 25% tax on goods from Canada and Mexico and a 10% tax on imports from China. Trump's approach raises concerns about the long-term impacts of protectionism and potential autarky on the US economy.
"The Journal said the moves reminds us of the old Bernard Lewis joke that it's risky to be America's enemy but it can be fatal to be its friend."
"This is called autarky, and it isn't the world we live in, or one that we should want to live in, as Mr Trump may soon find out."
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