Politics
‘Warning Signs Are Flashing’: Pence Blames Trump Tariffs for Economic Downturn
By Jake Beardslee · May 2, 2025
Pence Urges Trump to Rethink Economic Strategy
In an op-ed published in The Wall Street Journal, former Vice President Mike Pence called on President Donald Trump to walk back sweeping tariffs announced in April, warning that “economic warning signs are flashing” and describing the measures as “a massive policy misstep.” GREG WOHLFORD/ERIE TIMES-NEWS / USA TODAY NETWORK via Imagn Images
Trump Tariffs Temporarily Suspended After Market Fall
Trump’s tariffs—imposed on nearly all U.S. trading partners on April 2—were briefly enforced before being paused 90 days later following a market tumble. Despite this suspension, concerns over their long-term impact remain. The White House / Wikimedia
Pence Says Tariffs Cost U.S. Trillions in Investment
“Since the president announced his ‘Liberation Day’ tariffs, the only thing America has been liberated from is trillions of dollars in investments,” Pence wrote, arguing that they amount to “the largest peacetime tax hike in American history.” Gage Skidmore / Wikimedia
A Rare GOP Critic of Trump Emerges
Pence, who broke with Trump after refusing to block certification of the 2020 election results, now emerges as one of the few Republicans publicly criticizing Trump’s second-term policy agenda. Ali Shaker / VOA / Wikimedia
Pence Ended 2024 Campaign After Struggling to Gain Support
Pence launched his own bid for the 2024 Republican presidential nomination on June 7, 2023. However, his campaign struggled to gain momentum amid a crowded GOP field and the enduring influence of Donald Trump among Republican voters. Facing low polling numbers and fundraising challenges, Pence suspended his campaign. Gage Skidmore / Wikmedia
Pence Opens With Praise for Trump’s Comeback
Still, his op-ed began with praise: he hailed Trump’s 2024 victory as “a political comeback unrivaled in modern American history.” Ryan Garza / USA TODAY NETWORK via Imagn Images
Immigration Policy Gets Pence’s Approval
He commended Trump for restoring border enforcement “without needing new laws,” saying he was “just a president with the backbone to do his job and keep America safe.” Gage Skidmore / Wikimedia
Weak Ukraine Support Emboldening Russia, Pence Says
Pence opined that the administration’s “wavering support” for Ukraine had emboldened Russia to reject peace talks and escalate attacks on civilians. The White House / Wikimedia
Pence Calls for Renewed U.S. Military Aid to Ukraine
“Only renewed American military support for our close partner provides any hope for a just and lasting peace,” Pence wrote. Matt Johnson / Wikimedia
Pence Compares Economic Start to Nixon Era Slump
He emphasized that the first quarter of 2025 “marked the second-worst economic start for a presidential administration since Richard Nixon.” PD-US / Wikimedia
Tariffs Blamed for Damaging Economic Start
Pence directly linked the economic downturn to the tariffs, stating, “The cause? A massive policy misstep in the form of sweeping tariffs imposed on friend and foe alike.” Gage Skidmore / Wikimedia
Free Trade With Allies Still Possible, Pence Says
He argued that the administration could still “get the economy back on track through free trade with free nations,” while retaining targeted tariffs on adversaries like China. Gage Skidmore / Wikimedia
Isolate China, Not Allies, Pence Urges
He advised that the U.S. should unite “the democratic world in trade agreements that isolate China, not Europe and our Pacific allies.” Gage Skidmore / Wikimedia
Strong Start, But Time to Get Back to Conservative Basics
Pence added that Trump “deserves credit for an energetic and effective start,” but warned, “we can’t exchange time-tested conservative principles for populist platitudes.” Gage Skidmore / Wikimedia
Stick to Proven Policies, Not Populism
Pence advocated in his op-ed for policies that would “cut taxes and tariffs, keep our military strong and well-funded, and lead on the world stage.” Gage Skidmore / Wikimedia
Trump Defends Tariffs as Necessary Payback
Trump, meanwhile, defended the tariffs during a speech at the University of Alabama, saying they are “making us very rich” and arguing that the U.S. is simply retaliating against long-standing trade imbalances. Gary Cosby Jr. / USA TODAY NETWORK via Imagn Images