eFormer Vice President Mike Pence has thrown his support behind President-elect Trump's plan to impose stringent tariffs on China and other nations. His speech at the U.S.-based China General Chamber of Commerce emphasized the strategic aim of these tariffs to address trade imbalances and tackle issues such as illegal smuggling.

According to Fox News, Pence stressed that while these measures aim at stringent economic control, they ultimately seek to foster improved relations with China in the long run.

Pence's endorsement comes amid discussions on how the incoming administration will deal with trade issues. Pence addressed attendees on a Tuesday night, underscoring Trump's intentions to impose a 10% tariff on Chinese goods. The focus is partly on combating illegal fentanyl smuggling.

The address took place a week after Trump's declaration of tariffs on Mexico and Canada. The proposed 25% tariff on products from these nations aims to pressure them on matters of border control and security.

Pence Emphasizes the Potential Benefits of Tariffs

Meanwhile, trade under the Biden administration maintained previous tariffs and introduced additional taxes on $18 billion of Chinese goods. These measures continued the trend set by Trump's administration, where $80 billion in new taxes were applied through tariffs on $380 billion of products between 2018 and 2019.

Current policies entail $79 billion in active tariffs, translating to an average annual household tax increase of about $625. Pence, cognizant of concerns regarding economic impacts, reassured that these are necessary steps to engage China in discussions about trade practices and intellectual property.

Pence articulated the notion that China is a rival in economic realms, but made it clear they "must not become our enemy." He acknowledged the fear of a trade war harming both economies but asserted the tariffs' purpose is reformation, not isolation.

Pence Reflects on Trump's Past Trade Strategies

Pence shared confidence in Trump's capability to balance steadfast economic approaches with diplomacy, drawing from their four years of collaboration. He highlighted past successes in bringing China to the negotiating table through similar measures.

The former Vice President reiterated hopes that these proposed strategies would once again encourage negotiation with China. Pence expressed an understanding that the short-term challenges might be significant.

Despite the potential hardships, even within U.S. economic circles, he maintained that they would lead to greater outcomes in future dealings. The aim, he described, is to lay the foundations for substantial reform and cooperation.

Pence Appeals for Long-term Economic Solutions

Ultimately, Pence made it clear that the objectives of such tariffs are not punitive against China. Instead, they are aimed at fostering better relationships through economic reform.

Pence's speech resonated with calls for strategic foresight in addressing ongoing trade abuses. He recognized the complexity of the situation while remaining optimistic about the potential benefits.

"We want better for America and China," Pence concluded, advocating for a "firm, but fair approach" as essential to achieving enduring progress.

In his remarks, Pence aimed to align visions of a robust but constructive trade relationship, balancing current economic feats with future prosperity. The speech underscored an approach favoring disciplined yet diplomatic means in international economic exchanges.