Biden warns Trump's economic plan would be 'disastrous'

US President Joe Biden warned that President-elect Donald Trump's economic and tariff stances could have consequences for the American people.

“I pray that the president-elect will scrap Project 2025. I think it would be an economic disaster for us and the region,” Mr. Biden said at the Brookings Institution in Washington DC (USA) on November 10, AFP reported.

Project 2025 is a far-right plan to reform the US government, drafted by officials who served in Mr. Trump’s first term. During the election campaign, Democrats often criticized Mr. Trump for his involvement in the project, which he denied.

US President Joe Biden speaks at the Brookings Institution in Washington DC on December 10

Mr. Biden also emphasized that American consumers may soon have to pay more when Mr. Trump announced tariffs on major trading partners such as Canada, Mexico and China. “I think this approach is a serious mistake,” the president said.

Meanwhile, US Treasury Secretary Janet Yellen, speaking at another event attended by many business executives, warned that Mr. Trump's intention to impose tariffs could derail progress in controlling inflation and would have negative consequences for growth.

Also at the event on the evening of December 10, Mr. Biden said that he had left President-elect Trump “the strongest economy in modern history.” The White House boss mentioned the economic and social achievements in his four-year term, including economic recovery after the Covid-19 pandemic. He ended his speech with a call to build America’s leadership capacity in a volatile world . “If we don’t lead the world, who will?”, he said.

Mr. Trump did not immediately respond to President Biden’s speech. On December 10, the president-elect posted a series of posts on the social network Truth Social, listing the names of his nominees for positions in the upcoming government.

Source: https://thanhnien.vn/ong-biden-canh-bao-ke-hoach-kinh-te-cua-ong-trump-se-la-tham-hoa-185241211065511953.htm