Washington, December 10 – Outgoing US President Joe Biden delivered a pointed critique of President-elect Donald Trump’s proposed economic policies during his farewell speech at the Brookings Institution. With less than six weeks remaining in office, Biden defended his administration’s economic achievements and warned against the potential consequences of Trump’s strategies.
Biden Warns Against Tariffs and Tax Cuts
Biden called Trump’s threats to impose substantial tariffs on major trading partners, including Mexico, Canada, and China, a “major mistake.” These three nations account for a significant portion of US trade. He also criticized Trump’s proposed tax cuts, which he argued would benefit the wealthy while harming middle-class Americans.
“I believe this approach is a major mistake,” Biden stated. “US consumers will pay the price for these tariffs.”
Biden specifically took aim at “Project 2025,” a conservative policy blueprint for Trump’s second term, calling it an “economic disaster.”
Trump’s Influence as Shadow President
Though Trump’s inauguration is set for January 20, his influence has already been felt. Biden referred to Trump as a “shadow president” due to his active pronouncements on economic and foreign policy.
Biden’s speech contrasted his administration’s economic strategies with Trump’s “trickle-down economics.” The outgoing president championed his “middle-out, bottom-up” approach, highlighting the recovery from the Covid-19 pandemic and investments in green technology.
A Legacy of Economic Growth and Regrets
Biden touted his administration’s successes, declaring:
“President-elect Trump is receiving the strongest economy in modern history, which is the envy of the world.”
However, Biden acknowledged some personal regrets, including not signing his name on Covid stimulus checks as Trump had done, a move he admitted might have bolstered public perception.
A Plea for US Global Leadership
Biden concluded his address with a broader appeal for continued US leadership on the global stage, contrasting it with Trump’s isolationist tendencies.
“If we do not lead the world, what nation leads the world? Who pulls Europe together? Who tries to pull the Middle East together?” he asked.
Conclusion
As Biden prepares to leave office, his farewell address serves as both a defense of his presidency and a stark warning about the direction Trump’s policies might take. While reflecting on his legacy, Biden made a final appeal for unity and sustainable growth for the US economy.
