'Nice to have a President who...': JD Vance defends Trump's economic decisions

Addressing an event in Wisconsin, Vance said American economy suffered a lot due to a generation of failed leaders.

Defending US President Donald Trump's economic decisions, Vice President JD Vance said the country is extremely lucky to have a President who rewards companies for building factories in the US instead of rewarding companies for shipping jobs of American workers overseas

Addressing an event in Wisconsin, Vance said American economy suffered a lot due to a generation of failed leaders and stupid decisions. "Due to a generation of failed politicians and stupid decisions many American factories closed down one by one. Businesses which were the hallmark of American economic prowess, shut down," remarked the US Vice President.

The Trump administration has been highly critical of India for its procurement of discounted crude oil from Russia. Interestingly, Washington has not been criticising China, the largest importer of Russian crude oil. President Trump's second term promises transformative economic shifts affecting groceries, 401(k) values, and overall financial health. Early policies include new tariffs, extended tax cuts, and deregulatory moves.

Within weeks of taking office in January 2025, Trump rolled out sweeping economic changes that affect everything from your grocery bill to your retirement accounts. But Trump also proved as hard to predict as in his first administration, leaving economists leery of forecasting the effects of any of his proposals.

Talking about how Trump is applying “aggressive economic leverage”, Vance said: "President Donald Trump has applied “aggressive economic leverage” such as “secondary tariffs on India” to force Russia to stop bombing Ukraine."

Earlier this year, Vance while speaking in Jaipur had urged India to drop non-tariff barriers, give greater access to its markets and buy more American energy and military hardware as he laid out a broader roadmap of deeper ties between the two nations for a “prosperous and peaceful” 21st century.

Ever since Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil, relations between New Delhi and Washington are on a downturn.