Donald Trump will suffer Liz Truss's fate and be 'brought down' by Wall Street, warns JD Vance
JD Vance and Liz Truss
Reuters/PA
JD Vance has claimed that Wall Street will "try to bring down" Donald Trump in a similar way to how the Bank of England brought down Liz Truss.
The vice presidential candidate said he thought investors would spike the US bond markets if Trump wins a second term in order to bring down his government.
Speaking to Tucker Carlson, Vance compared investors under a Trump administration to the behaviour of the Bank of England during Truss’s 44-day tenure in Downing Street.
He added that while he "likes" the former PM, he added that he disagrees with her on "a lot of issues."
JD Vance said he likes Liz Truss but disagrees with her on a lot of issues
Reuters/PA
Vance said: "I think it’s probably the most important and the most impactful way they could try to take down his presidency is by spiking the interest rates. You saw this, by the way, Tucker, [with] Liz Truss in Britain.
"I like Liz Truss. I disagree with her on a lot of issues, so I’m not trying to stand up or say Liz Truss is my person. But look, she came in, she had a plan and the Bank of England I think made a lot of mistakes – maybe intentional – interest rates shot through the roof and it took down her government in a matter of days.
"Of course, we don’t have the same style of government, but it would be devastating to the President if you had this bond market death spiral, and that’s one of the things we’re going to have to fight against when we win."
Vance added that if he won this year’s election, his opponents would emerge when he "tries to do things", like deporting migrants en masse: "They’re going to take him down and try to take him down in a very big way."
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Liz Truss resigned after 44 days as PM
GETTYCommenting on the high cost of servicing US government debt, Vance claimed that investors on Wall Street who oppose Trump could attempt to sink his presidency by raising bond yields.
Warning that the Government’s interest rate could reach eight per cent, he said: "In 200-plus years of being an American republic, we’ve never had a true debt spiral in this country.
“So I really worry…do the bond markets, do the international investors, the people who are getting rich off of globalisation, the people who have gotten rich from shipping our manufacturing base to China, the people who’ve gotten rich from a lot of wars…do they try to take down the Trump presidency by spiking bond rates?"
On Wednesday, the Federal Reserve cut the base interest rate from what was a 23-year high of between 5.25 per cent and 5.50 per cent to a lower range of 4.75 per cent to five per cent.
Republican US vice presidential nominee Senator JD Vance
Reuters
Vance will face off against Democrat opponent Tim Walz in the vice presidential debate on October 1 in New York City, a Democratic stronghold that is the former home of Donald Trump.
Walz, the governor of Minnesota, will likely use his "regular guy" reputation to try to appeal to voters, including some independents, who view Harris, a former senator from California, as too liberal.
Vance likely will face questions about his inflammatory rhetoric and could punch back with his typical combative style.
He has been criticised for referring to Harris and other Democrats in 2021 as a "bunch of childless cat ladies," and, more recently, for spreading false claims that Haitian migrants in the Ohio city of Springfield were eating pets.