Vice -President JD Vance defended the power of the US economy on Thursday, even while the rates of President Donald Trump continue to rock the stock market.
“You can never predict the future, but I think the economy, the basic principles of the economy are actually pretty strong at the moment,” said the Vice President on Thursday during an interview with Fox News -Gastheer Laura Ingraham.
Vance defended Trump's rates as a way to convince American companies to invest more in American employees, by bringing economic supply chains back to the United States.
“We are going to make this economy stronger in the long term and that is the ultimate goal of the presidents,” he said.
Vance defended the threat of President Trump earlier Tuesday to increase rates to 200 percent on European wines, champagnes and liqueurs, when the European Union continued with a planned rate of 50 percent on American whiskey and bourbon.
The United States buy 50 percent of its wine from the European Union, including $ 2.5 billion in wine from France in 2024.
The vice -president was defensive about the economic aggression of Trump towards Europe and accused them of mistreating American companies for decades.
“Of course we care about European safety, Laura, but they don't treat us as an ally when it comes to economics,” he said. “They actually insist in the process of American consumers and American employees.”
American Vice President JD Vance speaks while US President Donald Trump meets Micheal Martin
Aoiseach (Prime Minister) Michael Martin van Ireland, right, and his wife Mary O'Shea, left, current president of the United States Donald Trump, center, with the traditional Shamrock Bowl during a St Patrick's Day reception
Vance accused the European Union of imposing “ridiculous rates” on American products and noted that the president was finally ready to take revenge.
“If Europeans do something to us, we are actually going to fight back economically for the first time in 40 years that we have who stands up for America,” he said.
The Vice President said that some industries would move quickly to do their production again, but that certain industries 'take' for a while to reorganize their supply chains.
“We are not going to do this anymore, we can't run economics where Americans borrow, in debts that other people make for us, we are going to make it again in America, we have to,” he said.
During the Oval Office meeting with Taoiseach or Ireland Micheal Martin on Wednesday, Trump expressed frustration that Ireland had lured American pharmaceutical companies to Ireland.
“We have a huge shortage with Ireland, because Ireland was very smart,” said Trump. “They took our pharmaceutical companies away from presidents who didn't know what they were doing – and you know, it's a shame that it happened.”
The European Union has raised the rates at $ 28 billion in American input in retaliation for Trump's decision to level a rate of 25 percent on aluminum and steel from Europe.
During comments in the Oval Office on Thursday, Trump called the European Union “one of the most hostile and insulting burdensome and tariffing authorities in the world, which was formed with the sole purpose of making use of the United States.”
“We have been scammed for years and we will no longer be scammed,” he went on. “I'm not going to bend at all. Aluminum or steel. Or cars. We are not going to bend. '
