Wall Street Journal editorial calls Trump tariffs ‘dumbest trade war in history’

Some US business leaders reacted neutrally, while JP Morgan CEO says tariff threats can be used effectively

US business leaders are offering a mixed reaction to the steep trade tariffs that Donald Trump's administration has imposed on Canada, Mexico and China, as the editorial board of the Wall Street Journal called it the dumbest trade war in history".

Donald Trump hit Canada and Mexico with a 25% tariff on imports, and China with 10%, on Saturday in a move that launched a new era of trade wars between the US and three of its largest trading partners. The tariffs against Canada tax oil and energy products at 10%.