Mike Pence Warns Trump's 'Indiscriminate' Tariffs Could Trigger 'Price Shock' And Potential Shortages: 'Keeping Our Kids’ Toys Affordable... Is Part Of The American Dream' - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)

Former Vice President Mike Pence voiced his apprehensions about President Donald Trump‘s tariff policies, hinting at potential economic fallout and shortages.

What Happened: Pence, during an interview with CNN’s Kaitlan Collins, expressed his belief that the broad-based tariffs introduced by Trump could trigger a “price shock” in the economy and possible shortages.

He argued that these policies are not aimed at countries exploiting the trade relationship with the U.S., but are essentially a new industrial policy that could lead to inflation and harm consumers and the American economy.

The former VP stated, "I do think this version of tariff policy that's broad-based, indiscriminate, applies tariffs to friend and foe alike, is not a win for the American people."

Pence also voiced concerns about the possible consequences once the 90-day pause on steep “reciprocal” tariffs, announced by Trump on April 10, comes to an end. He cautioned that Americans might soon experience sticker shock and potential shortages.

In response to Trump’s recent remarks implying that American children might have to settle for fewer toys because of these policies, Pence highlighted that access to affordable goods is essential for helping Americans live within their means.

“…keeping dolls affordable, keeping our kids' toys affordable, that really is part of the American dream," stated Pence.

Pence distanced himself from Trump’s repeated assertions that Canada should become the 51st state, instead commending Canada as a strong and valued ally of the United States.

Why It Matters: On Sunday, Pence received the John F. Kennedy Profile in Courage Award for standing firm against endorsing false claims about the 2020 election being stolen.

Earlier in April, Pence had labeled Trump’s sweeping tariffs as “a misstep” and warned that if left as it is, the strategies would amount to “the largest peacetime tax hike in American history.”

In a Wall Street Journal op-ed, the former VP praised Trump’s early wins, such as cutting illegal immigration by over 90% at the southern border and restoring American strength abroad. However, he cautioned that these “hard-won and overdue” gains could be lost if the administration strays from its original playbook.

Trump’s tariff policies have also sparked a trade war that could potentially lead to empty toy shelves during the holiday season. However, the President said that China has earned over a trillion dollars by selling the United States products Americans don’t need. He dismissed worries about store shelves being empty, including in toy stores.

Invesco QQQ Trust, Series 1 QQQ surged 14. 69%, while SPDR S&P 500 ETF SPY climbed 11.72% over the past one month since Trump’s ‘Liberation Day’ tariffs.