Former US Vice President Mike Pence, in a scathing attack against President Donald Trump’s trade policy, said on Thursday that American companies and consumers are paying the cost of US tariffs.
Pence took to X to highlight that the cost of production of US companies like auto giant Ford has shot up following the increase in tariffs on inputs. US consumers are also ending up paying higher prices for goods due to the tariffs levied by Trump, he added.
The former Vice President emphasised the need for "Free trade with Free nations".
To drive home his point, Pence tagged an article from ‘Reason,’ a US monthly magazine, which stated that Ford had paid $800 million in tariff-related expenses during the second quarter of 2025, despite building most of its cars in America.
“If President Donald Trump's tariffs were boosting the prospects of American-based manufacturing, then Ford Motor Co. ought to be one of the biggest winners. After all, Ford builds more vehicles in the United States than any other automaker — it churned out 1.8 million of them last year — while employing around 57,000 manufacturing workers at plants across the upper Midwest. It's a legacy American brand, doing the sort of blue-collar work in the Rust Belt that the Trump administration believes its trade policies will directly benefit,” the article states.
In reality, the tariffs are crushing Ford. The automaker announced this week that it paid $800 million in tariff-related expenses during the second quarter of 2025 (during which it posted its first quarterly loss since 2023), and that it expects the tariffs to reduce annual profits by about $3 billion. Even for a company that earned an operating profit of $10.2 billion last year, that's a tremendous blow, the article written by Eric Boehm stated.
The Ford management is reported to have held multiple rounds of talks with the Trump administration in an attempt to reverse the setback due to the hike in tariffs.
Mike Pence had earlier stated that President Trump’s tariffs marked the “largest peacetime tax hike on the American people in the history of this country” and contributed to rising costs for consumers.
CWG 2026: Preeti, Jaismine, Sakshi, Sachin win as India rule boxing ring with seven gold
Indian boxing scripted history at the Commonwealth Games 2026 in Glasgow on Saturday by bagging seven gold medals — the highest-ever gold haul for the country in the competition.
Five NE states record below-normal monsoon rainfall in June-July despite widespread floods
Even as several Northeastern states were battered by heavy rains, floods and landslides during July, five of the region's eight states recorded below-normal monsoon rainfall so far due to weak rain-bearing systems over the Bay of Bengal, the absence of active monsoon troughs and the influence of El Nino, India Meteorological Department (IMD) officials said on Saturday.
Blood donation movement witnessing a renaissance in Tripura: CM
Chief Minister Prof. Dr. Manik Saha today said that there is currently a renaissance in the blood donation movement in the state. Along with creating a sense of spirituality through blood donation, a sweet bond is developed between the blood donor and the recipient.
Residents allege irregularities in Dharmanagar–Kailashahar road repair work, seek official inquiry
Allegations of irregularities have surfaced in the ongoing maintenance work on the Dharmanagar–Kailashahar road, with local residents claiming that the project is not being executed in accordance with the approved work order. They have urged the authorities to conduct a detailed investigation into the matter.
Sports Minister inspects construction of youth hostel in Kailashahar
Tripura Sports and Youth Affairs Minister Tinku Roy on Saturday inspected the ongoing construction of a 200-bed Youth Hostel at Ward No. 14 of the Kailashahar Municipal Council in Unakoti district. Senior officials of the concerned department accompanied the minister during the visit.
Infant found dead in well in North district
A pall of grief and shock has descended on North Gopalpur village in North Tripura district after the body of a 12-day-old baby girl was recovered from a well early on Saturday morning.
Ahmedabad to officially receive Commonwealth Games Flag, Host Baton at Glasgow closing ceremony
Ahmedabad's preparations to host the centenary edition of the Commonwealth Games will formally begin on Sunday when the city receives the Commonwealth Games flag and the Host Baton during the closing ceremony of the 2026 Commonwealth Games in Glasgow.
AGMC to be top medical, research centre in NE: Tripura CM
Tripura Chief Minister Manik Saha on Saturday said the state government is working relentlessly to transform the Agartala Government Medical College (AGMC) and Govind Ballabh Pant Hospital into one of the best medical education, research and super-speciality healthcare institutions in Northeast India, while strengthening the state’s overall healthcare ecosystem.