Biden Criticizes Trump’s Economic Plans : Global Impact Looms

The American economy has been crystallizing tensions for several months between two deeply divergent political visions, embodied by Joe Biden and Donald Trump. On one side, the current president advocates for a stabilizing approach, based on international cooperation and support for the middle class. On the other, Donald Trump promises radical reforms focused on protectionist policies and tax breaks for the wealthy. Thus, these oppositions go beyond national economic choices, reflecting orientations that could reshape global trade balances.

Biden denounces a “economic disaster”

On Tuesday, December 10, 2024, Joe Biden spoke at the Brookings Institution to vigorously denounce the economic program of Donald Trump, which he labeled as a “disaster.” During his speech, he presented detailed arguments to justify his criticisms. He primarily targets the planned increases in tariffs. According to Donald Trump’s plan, these taxes could rise to 25 % for imports from Canada and Mexico, as well as 10 % for Chinese products, three of the United States’ main trading partners. According to Joe Biden, such a policy would severely harm international economic relations while weakening the national economy. “This approach is a huge mistake,” he stated. Furthermore, he underscores the risks to strategic partnerships and the competitiveness of the United States.

The outgoing president did not stop there. He also criticized the tax cuts promised by Donald Trump for the wealthiest taxpayers. According to him, these measures would lead to massive budget deficits and would require cuts in vital sectors such as health, education, and assistance for veterans. “The tax cuts proposed by Trump will only exacerbate inequalities and force budget cuts in essential areas,” he stated. He calls on Americans to oppose the “Project 2025,” an ultra-conservative economic program supported by his opponent. These remarks reflect Joe Biden’s concern regarding the social and economic implications of Donald Trump’s return to power.

International reactions and global stakes

The criticisms voiced by Joe Biden go beyond the American political scene. They have also resonated with several international leaders, who expressed their concerns over the tariff increases envisioned by Donald Trump. Claudia Sheinbaum, the Mexican president, emphasized that these measures would have detrimental consequences on both sides of the border. She stated that “these measures will cause inflation and job losses on both sides of the border.” For his part, Justin Trudeau, the Canadian Prime Minister, insisted on the essential role of his country in supplying energy to the United States. Moreover, he warned about the disruptions these tariffs could cause. China, through its Ministry of Commerce, also reacted firmly and urged Washington to respect international trade rules. According to Chinese authorities, these policies risk compromising bilateral cooperation and also exacerbating global economic tensions.

These international reactions shed further light on the crucial stakes linked to Donald Trump’s economic approach. While his protectionist proposals officially aim to protect American jobs, they could lead to significant disruptions within global supply chains, to the detriment of the United States’ economic partners. Concurrently, the results achieved under the Biden administration, notably the significant decrease in inflation from 9.1 % in November 2022 to 2.3 % today, testify to an economic stabilization praised by many economists. This evolution highlights the importance of maintaining policies that promote both internal growth and international trade relations. Such developments pose a central question: what direction will the United States choose to preserve their economic competitiveness and minimize repercussions on their global partners?

The economic duel between Joe Biden and Donald Trump greatly exceeds the stakes of a simple political opposition. It is part of a broader struggle to determine the future of the United States in the face of growing economic and geopolitical challenges. While Biden defends policies aimed at stabilizing the economy and strengthening international cooperation, Trump proposes radical reforms that trigger both support and concern. The forthcoming choices, both from American voters and international partners, will have decisive repercussions on the place of the United States in the global economy and on the strategic relations with their trade allies.