US President Biden considers Trump tariffs as ‘major mistake’
US President Joe Biden speaks at a Christmas for All Dinner in Celebration of Unity, America, and Special Olympics, in the East Room of the White House in Washington, DC, Dec. 10, 2024. (AFP Photo)
U.S. President Joe Biden argued President-elect Donald Trump’s pledged tariff plans on goods from Mexico, China, and Canada, denouncing as “major mistake.”
Speaking at the Brookings Institution, a U.S.-based think tank, on Tuesday, Biden highlighted his administration’s efforts to support post-COVID-19 economic recovery.
As his four-year term nears its end next month, Biden claimed that most economists agree the incoming administration will inherit a robust economy.
He said that the economy’s transformation has laid a solid foundation for sustainable, broad-based, high-productivity growth, expressing hope that the new administration would preserve and build on this progress.
“I believe the economy I’m leaving at the moment is the best economy, the strongest economy in the world,” said Biden.
Trump, committed to imposing tariffs on imported goods, was criticized by Biden, who called his approach a “major mistake.”
“I pray to God the president-elect throws away Project 2025,” Biden added, referring to a detailed plan to make a long list of far-right priorities a reality.
Campaigning ahead of his victory last month, Trump advocated for substantial tariff increases, particularly on Chinese imports. He announced plans to impose a 60% tariff on Chinese goods and a 10-20% tariff on imports from other countries if reelected.
While he claimed the exporting countries would pay these increased tariffs, economists said in fact consumers would end up paying, leading to higher prices and fueling inflation.
