Wall Street Journal editorial board: Trump's 'shakedown' with Carrier sets dangerous precedent
Tasos Katopodis/Getty Images
Carrier, a heating and air conditioning manufacturer, announced on Thursday that it would keep approximately 1,100 jobs in the US after speaking with the incoming administration and receiving a $7 million incentive package from Indiana. Previously it had planned to move 2,000 jobs out of the country - some of those will still be outsourced.
While the deal was almost universally praised across political aisles, the Journal's conservative editorial board expressed concern. It noted that Trump treated Carrier as a "piñata for trade politics during the campaign" and argued the president-elect's interference into the private economy set a bad precedent.
"Mr. Trump has now muscled his way into at least two corporate decisions about where and how to do business," the Journal's editorial board wrote. "But who would you rather have making a decision about where to make furnaces or cars? A company whose profitability depends on making good decisions, or a branding executive turned politician who wants to claim political credit?"
The Journal argued that "America won't become more prosperous by forcing companies to make noneconomic investments," before comparing Trump to former President Richard Nixon:
"Like the Nixon Administration, Donald Trump's unpredictable, non-ideological policy-making will sometimes be disorienting for those who claim to believe in free markets. Some conservatives will be tempted to tolerate bad policies that appear to be popular that they'd never accept from President Obama. Many Republicans stayed silent or supported Nixon as he imposed wage-and-price controls and created the EPA, only to regret it later. They shouldn't make the same mistake with Mr. Trump.
"The better strategy is to support him when his policies promote growth and try to block him when he veers into big-government cul-de-sacs. In that spirit, his Carrier shakedown is a short-term political victory that will hurt workers and the economy if it becomes the norm for the next four years."
Trump has had a terse relationship with the Journal since launching his campaign last summer. In August, the newspaper's editorial board warned that Trump needed to "behave like a president" or "turn the nomination" over to his running mate Mike Pence.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market