Vice President Vance said the market response to President Trump's tariff plans has deteriorated and he thought the White House team was feeling better about the development.
“We feel good, look, I honestly think, because in a way, this is a big transition.
“You saw the President said earlier today, it seems like a very sick patient. We had surgery, and now it's time to make our patients even better, and that's exactly what we're doing,” he added. “We need to remember that for 40 years, American economic policy has rewarded people who ship jobs overseas. It has been taxed on our workers, making our supply chains more fragile, reducing our country's prosperity, less free and less secure.”
Dow Jones Industrial Average Opened with loss Of the 1,100+ points on Friday, after a drop of nearly 1,700 points. Markets were expected to fall further on Friday after China announced it would retaliate against Trump's tariffs.
The Vice President told Newsmax that tariffs were about “national security in manufacturing and making what we need,” and that “good work” would follow a new focus on US investment.
He mentioned Trump's comments to reporters on Thursday, when the president compared tariffs to surgery because “it's a big thing.” The then president argued that the market would become a “boom” as a result of his tariffs.
White House officials, including Vance and Commerce's Howard Lutnick, are officially announced Wednesday, and are calling for them to defend their tariff plans and trust Wall Street to succeed.
The president's sudden tariff policy imposes a 10% tariff on all imports and higher tariffs in countries that the White House has unfair trade practices ranging from 20% in the European Union to 54% in China.
https://thehill.com/homenews/administration/5232108-vance-trump-tariffs-market-reaction/
