Former Vice President Mike Pence criticized Treasury Secretary Scott Bessent on Friday over his remark that the “essence” of the American dream was not about “access to cheap goods.”
“Actually @SecScottBessent, it is. Tariffs are good as a means to bring nations like China to the table, but free trade lowers the costs of goods and improves the quality of life for every American. Let’s Pursue Free Trade with Free Nations and Revive the American Dream,” Pence wrote on the social platform X in response to Bessent’s remarks.
Pence, who served as vice president during President Trump’s first term, has been critical of the new Trump administration, mainly the president’s position on the Russia-Ukraine war.
His latest comments were a reaction to Bessent’s speech to the Economic Club of New York on Thursday in which he said access to cheap goods was “not the essence of the American dream.”
In his address, Bessent said, “The American dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security. For too long, the designers of multilateral trade deals have lost sight of this.”
On Friday, the secretary said the United States economy has become increasingly reliant on excessive government spending, adding, “There’s going to be a detox period.”
“The market and the economy have become hooked, become addicted, to excessive government spending, and there’s going to be a detox period,” Bessent said on CNBC’s “Squawk Box.”
“The American dream is to be able to buy a house,” Bessent reiterated, adding the administration is trying to “get rates down.”
Financial markets slid this week in reaction to Trump imposing tariffs on goods from Mexico, Canada and China and downbeat reports about consumer sentiment.
Acknowledging the financial impacts, Trump said in his joint address to Congress this week that there would be “a little disturbance” following the new tariffs.
