In a speech in which he defended the account of his tenure in the field of the economy, outgoing US President Joe Biden criticized in a very sharp tone the economic policy that he intends to implement by his successor, Donald Trump, predicting that it will bring “disaster” .

The increase in customs duties announced by the tycoon was particularly targeted.

Mr. Trump has already announced that once he takes office on January 20, 2025, he will dramatically raise tariffs on all products imported into the US from Canada and Mexico, as well as products made in China.

These are the three largest trading partners of the USA.

“I think this approach is a huge mistake,” the outgoing Democratic president said during a speech at the Brookings Institution in Washington.

In the speech, punctuated by bouts of coughing — the president excused himself by saying he had a cold — Joe Biden defended his record on the economy, a month after Americans elected his arch-rival in part because they found the cost of living unaffordably high.

The outgoing head of state warned against the implementation of a program allegedly embraced by Mr. Trump. “I pray to God that the president-elect rejects ‘Project 2025.’ I think it would be an economic disaster for us and for the region,” he said, referring to the ultra-conservative text that is estimated to be something of a roadmap for the Republican’s second term.

“President-elect Trump inherits the strongest economy in modern history, the envy of the world,” said Mr. Biden in the speech, boasting about the greatness of his country and its economy.

At the same time, he blasted his successor’s intention for “a new tax cut for the richest”, which would have “real costs”, as it would lead on the one hand to “bigger huge deficits” and on the other hand “to big cuts in basic programs” in health, education and care for veterans.”

Outgoing Treasury Secretary Janet Yellen also expressed concern yesterday about the big tariff increase announced by Donald Trump.

It’s a tactic that “I fear would derail the progress we’ve made on inflation and have damaging consequences for growth,” the finance minister said during an event organized by the Wall Street Journal.

Inflation rose in October in the US, for the first time since March, to 2.6% on an annual basis, according to the CPI index. November data is expected to be released later today.

The finance minister also said that she discussed with her potential successor, Scott Bessed, who was chosen by Mr. Trump and will need to secure Senate approval.

“I spoke with him before Thanksgiving, congratulated him” on his possible appointment and “told him that I think he will find this job extremely interesting and stimulating and that the Treasury Department has a wide range of responsibilities,” Ms. Helen.

Mr. Biden has promised a smooth transition of power to Mr. Trump, who generally leaves his predecessor in the dark and announces his intention to make shock appointments via Truth Social, while also announcing tariff hikes in exactly the same way — alarming the US’s neighbors.