Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
WASHINGTON (AP) — As president, Donald Trump imposed a 25% tariff on foreign steel, which hurt Clips & Clamps Industries, a Michigan auto supplier — raising its materials prices, making it harder to compete with overseas rivals and costing it several contracts.
Jeff Aznavorian, the company president, thought he might enjoy some relief once Joe Biden entered the White House. Instead, Biden largely preserved Trump’s tariffs — on steel, aluminum and a mass of goods from China.
“It was a little surprising that an ideologically different administration would keep the policies so intact,’’ Aznavorian said, recalling how a previous Democratic president, Bill Clinton, had fought for freer trade. “That’s just so different from a 2024 Biden administration.’’
Trump and Biden agree on essentially nothing, from taxes and climate change to immigration and regulation. Yet on trade policy, the two presumptive presidential nominees have embraced surprisingly similar approaches. Which means that whether Biden or Trump wins the presidency, the United States seems poised to maintain a protectionist trade policy — a policy that experts say could feed inflation pressures.
Related articles
Macron is making a surprise trip to New Caledonia amid deadly unrest and indigenous frustration
PARIS (AP) — French President Emmanuel Macron is making a surprise trip to riot-hit New Caledonia, t2024-05-21Goalie error costs relegation battler Burnley a draw with Brighton in EPL
BURNLEY, England (AP) — A mistake by goalkeeper Aro Muric cost Burnley in a 1-1 draw with Brighton o2024-05-21Joe Lycett reveals he has a new girlfriend on Channel 4 show as comedian talks about his sexuality
Joe Lycett revealed he is in a new relationship as he opened up about his sexuality during a new ser2024-05-21- (Xinhua) 15:16, October 08, 2023BEIJING, Oct. 8 (Xinhua) -- In 1988, when Xi Jinping took office as2024-05-21
- Jennifer Garner dropped by the house her ex-husband, Ben Affleck, has been staying alone in amid rum2024-05-21
China regulates terrorist cases handling procedures in accordance with law: white paper
(Xinhua) 10:17, January 23, 2024BEIJING, Jan. 23 (Xinhua) -- China has regulated procedures for hand2024-05-21
atest comment