Trump names Vance as VP running mate
Although Senator J.D. Vance is well-known to voters thanks to his bestselling autobiography "Hillbilly Elegy", his economic views are much less familiar. Who is the Republican vice-presidential candidate for the USA, anointed by Donald Trump?
Republican presidential candidate Donald Trump has chosen Ohio Senator J.D. Vance as his vice-presidential candidate. This figure is well-known to many Americans thanks to his bestseller "Hillbilly Elegy". It is a depiction of his hometown in the Appalachian region of Kentucky, detailing the impoverished life in the so-called Rust Belt (a term for the regions in the northeastern part of the USA, encompassing Michigan, Indiana, Ohio, and Pennsylvania, which were once dominated by heavy industry but are now in decline).
As CBS News points out, Vance's views on the economy and finance are much less known, even though he worked in finance before climbing the political ladder. As explained by the broadcasting station, it doesn't help that these views were never strongly established and have evolved—similar to the senator's stance on Trump.
America first
However, the former president sees him as the embodiment of his slogan: America first. "J.D. honorably served our Country in the Marine Corps, graduated from Ohio State University in two years, Summa Cum Laude, and is a Yale Law School Graduate, where he was Editor of The Yale Law Journal, and President of the Yale Law Veterans Association. J.D.’s book, "Hillbilly Elegy," became a Major Best Seller and Movie, as it championed the hardworking men and women of our Country. J.D. has had a very successful business career in Technology and Finance, and now, during the Campaign, will be strongly focused on the people he fought so brilliantly for, the American Workers and Farmers in Pennsylvania, Michigan, Wisconsin, Ohio, Minnesota, and far beyond….," Trump stated in a post on his social media platform TRUTH Social.
Bernie Moreno, who introduced the party's candidate for the Senate, said that for J.D. Vance, the slogan 'America First' is not just a phrase; it's his North Star. He knows what it means to live in poverty, forgotten by politicians in Washington. He will ensure that no American is ever forgotten again.
This is also reflected in Vance's view on the war in Ukraine. In an interview with Fox, the Ohio senator stated outright that the war in Ukraine must end quickly so that America can concentrate on the real problem—China.
Trade protectionism
Vance is a staunch supporter of Trump's protectionist trade policies. He has repeatedly advocated for trade policies aligned with Trump's vision, which includes imposing tariffs on imports from China and other countries to promote American manufacturing and create American jobs.
CBS News reports that Vance has also regularly criticized the "Big Tech oligarchy" and called for breaking up companies like Google and Microsoft's dominance.
He is also a strong supporter of the fossil fuel industry. He has repeatedly expressed doubts about climate change.
Inflation, bitcoin, and the economy
Vance also criticised the Inflation Reduction Act, which CBS explains is an initiative by the Biden administration to encourage Americans to switch from petrol-powered cars to electric vehicles by offering tax credits for purchasing electric vehicles and electrifying homes to reduce dependence on fossil fuels.
Vance is a fervent supporter of cryptocurrencies. He has accumulated an estimated £3.2 million net worth through investments in public companies like Walmart and real estate, as well as in bitcoin.
According to CBS News, as a senator, he co-authored legislation to prevent banking regulators from forcing banks to stop servicing unfavourable industries, such as cryptocurrencies.
