Biden says Trump inheriting 'strongest economy in modern history,' slams tariff plan as 'major mistake'

Biden delivered remarks about his "middle-out, bottom-up" economic approach at the Brookings Institution, a public policy think tank in Washington, D.C., claiming there are "a number of quotes" from commentators describing his administration's economy as strong.

"President Trump has received the strongest economy in modern history, which is the envy of the world," Biden said.

According to the most recent Consumer Price Index inflation data from the Bureau of Labor Statistics, Americans are spending 22% more on groceries in comparison to when Biden took office nearly four years ago.

Meanwhile, Biden held to his belief that Trump's potential tariff plan is "a major mistake."

"By all accounts, the incoming administration is determined to return the country to another round of trickle-down economics and another tax cut for the very wealthy," Biden said. "That will not be paid for, or if paid for, is going to have a real cost, once again causing massive deficits or significant cuts in basic programs." 

When asked in his latest interview if he could guarantee that his tariffs wouldn't force Americans to pay more for items, Trump answered, "I can't guarantee anything."

Fox News Digital's Paul Steinhauser contributed to this report.