Former Vice President Mike Pence warned about the economic and political risks of the Trump administration’s sweeping reciprocal tariffs on other nations, calling them the “largest peacetime tax hike in U.S. history.” Pence, who served alongside President Trump during his first ter m, posted on the social platform X following Wednesday’s announcement that the tariffs “are nearly 10x the size of those imposed during the Trump-Pence Administration and will cost American families over $3,500 per year.” The former vice president cited data from his advocacy group, Advancing American Freedom, which made the case that tariffs and uncertainty around the economy contribute to layoffs. Pence’s advocacy group also noted that a recent YouGov/Yahoo poll found Trump’s approval rating on the economy was just 39 percent. “American families are still reeling from 20% Bidenflation. An equally large Trump Tariff Tax will hurt families and make them look elsewhere come the next election,” Advancing American Freedom stated in a memo on the tariffs. Trump's announcement on Wednesday of severe tariffs against more than 100 countries has spurred fears of a global trade war and sent financial markets plummeting. Pence, who ran unsuccessfully in the 2024 GOP presidential primary, has broken with Trump on matters of foreign policy and tariffs while supporting the president's agenda in other areas. The former vice president is one of just a handful of prominent Republicans who have publicly criticized Trump's aggressive use of tariffs and argued they are a departure from his more targeted use of the policy during his first term. Most in the party have backed Trump's approach and argued any short-term economic pain will be worth it. Senators introduced bipartisan legislation on Thursday to grant Congress more power over instituting tariffs on other countries. ...read more read less