Biden calls Trump tariff approach 'a major mistake'
US President Joe Biden called President-elect Donald Trump's tariff threat "a major mistake" during a speech on Dec. 10 (local time) at the Brookings Institution in Washington, D.C.
"On top of that, he seems determined to impose steep universal tariffs on all imported goods brought to this country on the mistaken belief that foreign countries will bear the cost of those tariffs rather than the American consumer," Biden added.
He did acknowledge that "too many working- and middle-class families struggle with high prices for housing and groceries and daily needs of life."
Many US economists believe that tariffs are one of the factors contributing to high inflation in the US, and that high tariffs will be borne by US consumers and will hurt the US economy.
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