On Wednesday, President Trump announced sweeping tariffs targeting nearly every country. But the backlash came quickly, not just from his usual critics, but also from conservatives who aren’t happy about what they’re calling a “massive tax hike.”
Markets responded swiftly, tanking in after-hours trading, and fears of inflation and a potential recession are starting to creep in.
💸 Conservatives Speak Out
Mike Pence didn’t hold back in his criticism of Trump’s tariffs. On X, he blasted the move, calling it “the largest peacetime tax hike in U.S. history.” According to Pence, the tariffs are nearly 10 times bigger than the ones imposed during his administration and could cost American families over $3,500 a year.
“Tariffs on imports will make products you buy more expensive,” he also posted, adding that 69% of Americans agree with that sentiment.
He wasn’t the only one…
📉 Market Chaos
The market’s reaction was swift and unforgiving. After Trump’s tariff announcement, stocks plummeted, with concerns rising over the long-term impact on the U.S. economy. The sweeping tariffs are expected to hit nearly every nation, and now, many are questioning whether this is a reckless move or the start of a trade war.
🤔 The Road Ahead
As the debate over Trump’s tariffs rages on, the political and economic fallout is only beginning. While Trump insists the tariffs are necessary for national security, his conservative critics, including Pence, argue they’re nothing more than a tax on American families.
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