Biden lays into ‘counterproductive’ Trump tariff threats: ‘I hope he rethinks it’

Trump has threatened to unilaterally impose a massive consumption tax on Americans who purchase imported goods from three of the country’s top trading partners

Joe Biden has panned Donald Trump’s plan to hit Americans with massive import taxes on goods from Mexico and Canada, hoping his successor will walk back the proposal.

The president was asked about Trump’s plan to hike the cost of Mexican and Canadian products by 25 percent via executive order if both countries did not take steps to curb what he described as unacceptable flows of drugs and migrants into the U.S. across their respective borders.

Biden, who is in Nantucket for his family’s annual Thanksgiving vacation, told reporters: “I hope he rethinks it. I think it’s a counterproductive thing to do.”

President Joe Biden talks to the media during a visit to Nantucket fire department on Thanksgiving day in Nantucket Mass. (AP)

“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,” he added during the press call at a firehouse on the Massachusetts island where he is staying.

Trump threatened to impose a massive consumption tax on Americans who import goods from both of the United States’s North American neighbors in a series of social media posts on Monday.

“On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders,” he wrote before adding a separate post threatening to raise existing tariffs on Chinese goods by an additional 10 percent.

Biden briefly spoke with reporters from the White House pool (AFP via Getty Images)

The president-elect’s social media post indicated that he believes — incorrectly — foreign governments pay tariffs for the privilege of engaging in cross-border trade with the U.S. But tariffs are actually import taxes that are paid by American companies that import foreign goods.

Those companies pass the costs on to American consumers in the form of higher prices.

But Biden stressed, despite his criticism of the tariffs plan, he wants to make sure the transition to Trump 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,” he said.

The president also weighed in on US-China relations. He said Washington and Beijing had “reached a relationship with a status quo” following a series of meetings between him and Chinese leader Xi Jinping in San Francisco last year and in Peru this year.

“We set up a hotline between President Xi and myself, as well as a military — a direct line,” he said. “One thing I’m confident about Xi is he doesn’t want to make a mistake. I mean it sincerely.”

Biden was also asked at the top of the Q&A what he is thankful for - he responded “my family, the peaceful transition of the presidency, and I’m thankful by the grace of God we were able to make more progress in the Middle East, I’m really thankful for being able to get the first peace done in Lebanon.”

He added that he was “thankful to Americans.”

“There is nothing beyond our capacity,” he said.