Former Vice President Mike Pence has sharply criticized President Trump's proposed tariffs, labeling them as the largest peacetime tax increase in U.S. history. He alleges that these tariffs could impose a financial burden of over $3,500 annually on American families and further exacerbate economic challenges. According to his assessment, the tariffs could cost jobs and jeopardize Republican control. Pence highlights a fact sheet from his PAC, arguing that the tariffs might undo the economic restoration Trump aims to achieve amid rising inflation. Predictions suggest the impact could exceed $600 billion annually, representing significant financial strain on families.
These Tariffs are nearly 10x the size of those imposed during the Trump-Pence Administration and will cost American families over $3,500 per year.
Pence's claim—Trump's tariff taxes could cost American families thousands of dollars a year, destroy American jobs, and potentially lose conservatives their governing majority.
The proposed tariffs would be the highest levels since the 1800s, exceeding the 1920s levels that contributed to the Great Depression.
Estimates from Goldman Sachs place the annual tariff impact close to $300 billion a year—affecting median American families significantly.
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