Former Vice President Mike Pence supported the newly elected president’s “hawkish” tariffs Trump has promised to attack China with, though warned in a speech on Tuesday evening that the US must balance its challenging relationship with Beijing.
“The threats of additional tariffs on China and other countries are not a bluff,” he said in a speech to the US-based Chinese General Chamber of Commerce on Tuesday evening. “I believe that with wise choices that look to the future, America’s relationship with China can ultimately improve – not despite President Trump’s tough approach to China, but because of it.
“China is our rival and our economic opponent – but China must not become our enemy,” he added.
Former Vice President Mike Pence addresses the US-based General Chamber of Commerce of China on December 3, 2024. (Photo provided by Advancing American Freedom)
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Pence’s comments came just a week after Trump said this will be one of his first steps as president introduce a 25% tariff on all goods are coming from Mexico and Canada until they crack down on border control — a move President Biden warned could upend the 2020 U.S.-Mexico-Canada Agreement that promotes duty-free trade among the three North American countries.
Moreover, he said China can “expect an additional 10% tariff on top of any additional tariffs” until China also cracks down on the illegal fentanyl trafficking.
Tariffs are taxes placed on goods crossing U.S. borders and are used as a tool to discourage certain imports as U.S. businesses pay the price for higher tariffs – a fee that is passed on to U.S. consumers.
According to the Tax Foundation, the Trump administration imposed “$80 billion in new taxes on Americans” in 2018 and 2019 when he imposed tariffs on $380 billion worth of products.
The Biden administration largely kept these tariffs in place and then imposed additional tax hikes on $18 billion worth of Chinese goods.
A jockey truck passes a stack of 40-foot China Shipping containers at the Port of Savannah, Georgia, on July 5, 2018. (AP Photo/Stephen B. Morton, file)
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The combined trade war policies currently in place are reportedly responsible for $79 billion in active tariffs, which “represents an average annual tax increase for U.S. households of $625,” the organization said.
But in an effort to allay concerns about additional tax hikes, Pence addressed American and Chinese business owners attending the gala on Tuesday evening, saying it is a necessary step to bring China back to the negotiating table to combat trade abuses and intellectual property theft to counteract. and the increasingly hostile attitude of the Chinese government.
President Xi Jinping discusses the guard of honor during a welcome ceremony at the Great Hall of the People on November 22, 2023 in Beijing, China. (Florence Lo – Pool/Getty Images)
“I’m sure some of you are concerned that tariffs and other restrictions on China will hurt ours and China’s economy, or possibly even worse, lead to a trade war that will harm both our countries. I understand those concerns,” Pence said. said.
“I fervently hope that his proposed tariffs will bring China back to the negotiating table, as they did during our administration. I know this will be difficult and present challenges in the short term, but in the long run it will be well worth it. he added. “We want better for America and China – and I believe a firm but fair approach is the best way to get there.”
Presidential candidate Donald Trump stands with vice presidential candidate Mike Pence at the Republican National Convention on July 20, 2016 in Cleveland, Ohio. (Chip Somodevilla/Getty Images)
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Pence said that after serving Trump for four years, he “knows his mind” and remains confident the president-elect can do that. balance between respectful diplomacy with tough economic policies.
“The purpose of tariffs is not to isolate or contain China, but the president-elect’s purpose on tariffs is to promote better relations through actions and reforms to achieve a better future” , he said.
