Latest news with #JohnLockeFoundation
Yahoo
20-05-2025
- Business
- Yahoo
Pence Promises Americans ‘Will Pay' for Trump's Tariff Chaos
Former Vice President Mike Pence struck a blow at his former boss over the impact of his tariffs. 'The president always says that countries that sell into America have to pay,' Pence said, referring to Trump's pledge that exporting countries—not consumers—will shoulder the cost of his tariffs. 'But the truth, I think … is it's ultimately, for the most part, American consumers that will pay the price of higher tariffs,' Pence said during a panel discussion at the John Locke Foundation in Raleigh, North Carolina, on Monday. Trump's tariffs have launched a trade war against traditional allies. In February, he imposed 25 percent tariffs on goods from Canada and Mexico, which he has since adjusted. On April 2, which Trump dubbed 'Liberation Day,' he announced a slew of tariffs against nearly 60 additional countries, including a 145 percent levy on goods from China. After a tense weekend of negotiations with China in May, Trump backed down, announcing a 90-day reduction on Chinese tariffs to 30 percent. He also implemented a 90-day tariff pause on several other 'Liberation Day' targets as negotiations continue. Pence's warning at the event, co-hosted by his conservative think tank Advancing American Freedom, echoes the chorus of analysis from economists, who have said the president's tariffs have shrunk the economy, caused thousands of layoffs, and could cost American families around $3,200 extra annually. On May 15, Walmart said it would raise prices for consumers because of higher import costs, prompting the president to declare that the company should 'EAT THE TARIFFS.' Pence was not the only speaker to condemn the president's tariffs during the conference. During the same panel, former House representative and major Republican donor Art Pope, CEO of Variety Wholesalers, told the audience, 'It's not a question of whether or not we eat [the tariffs]. It's a question of whether or not we stay in business or go bankrupt.' This is the fourth time Pence has broken from his former boss in recent weeks. Though he rarely criticizes Trump directly, Pence told CNN on May 5 that he feared the tariffs would 'result in inflation,' 'harm consumers,' and, ultimately, would 'harm the American economy.' The statements came after Pence penned an op-ed in the Wall Street Journal last month urging the president to reconsider the tariffs, which he called a 'massive policy misstep.' Last week, in an appearance on Face the Nation, Pence voiced concerns about Trump accepting a free airplane from Qatar, arguing the country has known ties to terrorist organizations and calling the move 'inconsistent with our security, with our intelligence needs.' Despite Trump and Pence's history, the former vice president said he doesn't believe the president is acting in bad faith. 'I don't question his sincerity,' he told audience members. 'But I think the long and unbroken history of this country proves that trade has benefited the American people.'
Yahoo
24-03-2025
- Business
- Yahoo
NC State economist Mike Walden on the first two months of Trump 2.0
Prof. Mike Walden (Photo: NC State University) Over the past few decades, one of North Carolina's best known and most prolific economists has been Prof. Mike Walden. Walden, the Reynolds Distinguished Professor Emeritus of Agricultural and Resource Economics at NC State University, is an outspoken champion of free markets and a longtime regular contributor to the pages of the conservative John Locke Foundation. As with a lot of traditional economic conservatives, however, Walden is not necessarily a cheerleader for the roller-coaster economic policies that President Trump has pursued since his return to office, and recently, Walden joined NC Newsline editor Rob Schofield to share his assessment of what's been going on thus far and some concerns about what Trump's trade policies could mean for North Carolina.
