Bloomberg Talks Mike Pence Talks Trump Tariffs, Powell, Israel, Ukraine
Jul 10, 2025
Former US Vice President Mike Pence shares insights on Trump's trade war, emphasizing the need for fair trade with allies while combatting China's practices. He expresses ongoing frustrations with Jerome Powell's monetary policies and discusses the U.S. missile strike against Iran. Pence critically examines current foreign policy, contrasting it with stronger past approaches in the Middle East. He also highlights the need for firm military support for Ukraine, offering perspectives on Putin's ambitions that reflect lessons from history.
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Shift in U.S. Tariff Philosophy
- The Trump-Pence administration used tariffs as leverage to lower trade barriers and expand trade, mainly targeted at China.
- The current administration's broad, high tariff policies may harm the U.S. economy and consumers in the long term.
Trump’s Protectionism Emerges
- President Trump's underlying protectionist instincts have influenced a shift to permanent, unilateral tariff barriers.
- In the first term, priorities focused on free trade agreements and exporting U.S. goods globally.
Unify Allies Against China
- Do not isolate China by imposing tariffs on U.S. allies as it weakens unified economic pressure.
- Maintain strong trade relationships with free nations to coerce China into opening markets.