Bloomberg Surveillance Bloomberg Surveillance TV: July 10th, 2025
Jul 10, 2025
Join former US Vice President Mike Pence as he outlines the Republican party's future economic and political strategies. He sheds light on the impacts of trade policies and tariff changes on the American economy. Liz Everett Krisberg from Bank of America reveals insights from their Consumer Checkpoint Report, highlighting shifts in consumer spending and the widening economic gap. Together, they analyze how these factors influence inflation and consumer confidence, providing a keen perspective on financial stability in today's climate.
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Pence on Tariffs and Trade Policy
- Mike Pence credits Trump for a strong political comeback but criticizes broad-based industrial tariffs as harmful to the economy.
- He advocates for free trade with free nations, focusing tariff threats mainly on China.
Tariffs as Hidden Consumer Tax
- Pence warns tariffs act as a tax that ultimately burden American consumers with higher prices.
- He calls the proposed tariffs potentially the largest peacetime tax hike in U.S. history.
Pence on Middle East Policy Shift
- Pence praises the Trump administration's strong pro-Israel stance, including historic moves like the Abraham Accords.
- He contrasts this with the Biden administration's policy of appeasement towards Iran that he links to increased regional violence.