Vice President JD Vance acknowledged the economic upsides of Trump’s tariffs won’t “happen immediately,” however.

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Data about Trump's tariffs suggests the U.S. economy is not ready for a wholesale shift to manufacturing, and that it would take years to ramp up production capabilities.

The White House’s tariff reveal sent Wall Street into a tailspin on Thursday as many commentators viewed the levels of import taxes on some countries as a worst-case scenario for the market. The Dow dropped 1,