President Joe Biden spent Thanksgiving morning giving back to first responders and gave his thoughts on Donald Trump’s threats to impose tariffs on Mexico, Canada, and China.
Biden told reporters while on vacation in Nantucket that he hopes Trump “rethinks” his plans for tariffs, calling the move a “counterproductive thing to do.”
“We have an unusual situation in America. We’re surrounded by the Pacific Ocean, the Atlantic Ocean, and the two allies: Mexico and Canada. And the last thing we need to do is screw up those relationships. I think we’ve got them in a good place,” Biden said Thursday.
Earlier this week, Trump said he plans to implement a 25% tariff on all products coming into the United States from Canada and Mexico, starting on his first day in office.
Additionally, Trump also announced an additional 10% tariff on Chinese goods “above any additional Tariffs” until the flow of fentanyl is contained.
Tariffs are a tax on goods imported to the United States. Trump has repeatedly lied and said targeted foreign countries pay the tariffs, but they are actually paid by companies that purchase the imported goods — and the cost is usually passed onto American consumers — making the prices of those goods go up for the average buyer.
Trump’s announcement has already ignited fears of inflation and a trade war, which Trump had during his first term, where he imposed tariffs on foreign steel and aluminum — including from Canada and Mexico.
Trump’s tariffs would cost the average U.S. household about $2,600 per year, according to an estimate from the Peterson Institute for International Economics.
Biden also noted illegal crossings are down considerably from what they were back when Trump was in office.
“There’s a lot more to do, but, I hope they reconsider,” he said on Thursday.
Biden said he was thankful for his family and “for a peaceful transition,” adding that he’s “really thankful” to have secured a ceasefire deal between Israel and Hezbollah.
