CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

MNI BRIEF: Banxico Set To Consider Larger Rate Cuts - Minutes

MNI: Fed’s Collins Calls For Gradual Approach To Rate Cuts

MNI: FRANCE NOV INDUSTRIAL PRODUCTION +0.2% M/M, -1.1% Y/Y

MNI: FRANCE NOV CONSUMER SPENDING +0.3% M/M, +0.3% Y/Y

MNI: NORWAY DEC CPI -0.1% M/M, +2.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US: Biden Calls Trump's Tariff Plans "Counterproductive"

US
USHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America

US President Joe Biden has described President-elect Donald Trump's tariff proposals as 'counterproductive' in ad hoc remarks to the press in Nantucket, Massachusetts. 

  • When asked about Trump's proposed 25% tariff on imports from Canada and Mexico, Biden said: "I hope he rethinks it. I think it's a counterproductive thing to do,"
  • Biden added: "We're surrounded by the Pacific Ocean, the Atlantic Ocean, and two allies, Mexico and Canada. The last thing we need to do is begin to screw up those relationships."
  • Biden also noted, when asked about relations with China: "We have reached a relationship with a status quo regarding China ... we set up a hotline between [Chinese] President Xi [Jinping] and myself, as well as a military - a direct line. One thing I'm confident about Xi is he doesn't want to make a mistake. I mean it sincerely,"
  • Biden suggested that Trump's more hardline plans may be hindered by internal disagreement within the administration: "I want to make sure this transition goes smoothly. I want to make sure it goes smoothly. All the talk about what [Trump] may do or not do - I think there may be an internal reckoning on his part .. so it remains to be seen."
204 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

US President Joe Biden has described President-elect Donald Trump's tariff proposals as 'counterproductive' in ad hoc remarks to the press in Nantucket, Massachusetts. 

  • When asked about Trump's proposed 25% tariff on imports from Canada and Mexico, Biden said: "I hope he rethinks it. I think it's a counterproductive thing to do,"
  • Biden added: "We're surrounded by the Pacific Ocean, the Atlantic Ocean, and two allies, Mexico and Canada. The last thing we need to do is begin to screw up those relationships."
  • Biden also noted, when asked about relations with China: "We have reached a relationship with a status quo regarding China ... we set up a hotline between [Chinese] President Xi [Jinping] and myself, as well as a military - a direct line. One thing I'm confident about Xi is he doesn't want to make a mistake. I mean it sincerely,"
  • Biden suggested that Trump's more hardline plans may be hindered by internal disagreement within the administration: "I want to make sure this transition goes smoothly. I want to make sure it goes smoothly. All the talk about what [Trump] may do or not do - I think there may be an internal reckoning on his part .. so it remains to be seen."