Biden criticizes Trump's tariff plan as a "major mistake" while acknowledging that the US inherited a "strongest economy in modern history."

On Tuesday, President Biden boasted that President-elect Trump will inherit the "strongest economy in modern history" when he assumes office in January, despite Americans facing inflation-induced difficulties in affording homes and groceries.

Biden spoke about his "middle-out, bottom-up" economic strategy at the Brookings Institution, stating that several commentators have praised his administration's economy as robust.

Biden stated that President Trump inherited the strongest economy in recent history, an achievement that is admired globally.

Despite a decrease in inflation since its peak in 2022, grocery prices remain significantly higher than they were before the COVID pandemic hit nearly five years ago.

Nearly four years ago, when Biden took office, Americans were spending 22% less on groceries compared to the most recent Consumer Price Index inflation data from the Bureau of Labor Statistics.

In the 2024 election, the economy was the top issue for voters, with 40% stating that inflation was the most significant factor in their vote. Immigration and abortion followed closely behind, according to the Planet Chronicle Voter Analysis.

During a recent interview with NBC News' "Meet the Press," Trump acknowledged that his White House victory was largely due to the economy.

The president-elect stated, "I won on the border and on groceries."

Biden maintained that Trump's proposed tariff plan is a significant error.

"According to Biden, the new administration plans to implement trickle-down economics and another tax cut for the wealthy, which will result in a real cost and may lead to massive deficits or significant cuts in basic programs."

In his recent interview, Trump admitted that he couldn't assure Americans that his tariffs wouldn't result in higher prices for goods.

Planet Chronicle Digital’s Paul Steinhauser contributed to this report.