Vance holds press conference defending Liberation Day tariffs

Vice President JD Vance held a press conference on April 3, 2025, defending the Liberation Day reciprocal tariffs announced the previous day. Vance described the tariffs as necessary to correct decades of trade imbalance in which foreign countries faced lower U.S. tariffs than the duties they imposed on American goods; he rejected concerns that tariffs would raise consumer prices, arguing that domestic investment resulting from reshoring would offset any short-term cost increases.