“If we actually balance this out by penalising some of these companies for manufacturing overseas I do think that we can get this to balance out in the right way, where we’re not blowing a hole in the deficit, we’re giving workers more of their money,” the Ohio Senator told CBS’s Face the Nation Sunday.
Trump has rolled out a series of tax plans over the last three months, seeking to appeal to a range of voter groups. He has proposed ending all taxes on tipped income and overtime work and on Social Security retirement benefits, raising questions among economists and political opponents about the impact on the US budget deficit. Asked on CBS whether fiscally conservative Republicans in Congress would go along, Vance said “obviously Republicans believe American workers should keep more of their own money.”
Trump has pledged to enact a 10% across-the-board tariff on imports, potentially targeting regions such as the European Union, and to raise duties on Chinese-made goods to 60% or more, saying it would generate trillions for the US. Most economists say that Americans would ultimately pay higher costs and face reignited inflation.
Trump, the self-declared “tariff man,” has described threats of higher duties on US trading partners partly as a negotiating tactic to win concessions. “I can’t believe how many people are negative on tariffs that are actually smart,” Trump said in a Bloomberg interview in June. “Man, is it good for negotiation.”
Vance echoed that approach on Sunday. “Sometimes you’re gonna have to do higher tariffs, sometimes you might be able to do lower tariffs.” Bloomberg
