Vice President JD Vance said on Newsmax Thursday that he believes Americans will “reward the benefits” of the economy as the Trump administration makes a “big transition” with tariffs.
The Dow Jones industrial average fell 1,679.39 points Thursday, the day after President Donald Trump announced mutual tariffs on countries claiming US imports on “Tonight’s Rob Schmidt.”
“We feel good. Look, I honestly thought that it might be worse in the market because it’s a big transition. You saw what the president today said. It’s like a very sick patient,” Vance said. “We had surgery and now it’s time to make our patients even better. That’s exactly what we’re doing. We need to remember that we’ve been doing this for 40 years, for 40 years.”
“American economic policy rewards people who ship jobs abroad. It’s taxed on our workers. It made our supply chain more fragile, which made our country more thriving, free and less secure,” Vance added.
Vance recalled that one of his children was ill and needed antibiotics not made in the United States. The Vice President called several drugs invented in the country “silly things” that were no longer manufactured domestically. (Related: Republicans, Democrat Senators team up to control Trump’s tariff policy)
“It’s basically what this is: national security in making the things you need, from manufacturing and products to medicines to antibiotics, but there’s also a good job that comes when there’s an economic policy that rewards investment in the US rather than foreign investment,” says Vance.
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With an estimated 60 countries levied a baseline of 10% tariff, higher tariffs were applied to countries such as China and Israel. For example, China, which has a 67% tariff on US goods, currently faces 34% tariffs from the US, and Israel, which has a 33% tariff, faces 17% U.S. tariffs.
“A bad day in the stock market compared to what President Trump said today, I think he’s right about this. He’s reinvested in the United States, so he’s going to have a stock market that’s been booming for a long time.
“We want to do well with them. But we are most interested in American workers and American small businesses. They are going to really benefit from these policies,” Vance said.
The number of factories in the US has declined, adding that “millions of workers” have lost their jobs.
“My town [Middletown, Ohio]there were 10,000 great American steel workers, and my town was one of the lucky ones, but there was probably an economic policy that rewarded shipping our work to China instead of investing in American workers, so there will probably be 1,500 steel workers in that factory,” Vance said. He promised to change it and now he has it. I think Americans are going to make a profit. ”
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