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
- PARIS (AP) — The Syrian soldiers came first, at night, for the son, Patrick, a 20-year-old psycholog2024-05-22
Auckland protesters hold empty plates to highlight hunger in Gaza
Protestors at Auckland's Aotea Square on Sunday 31 March want the New Zealand government to call for2024-05-22What to watch: Tales from the Loop
Jan Thijs in a scene from Tales From The Loop. Photo: Amazon Prime2024-05-22Michigan school shooter's mother convicted of manslaughter
By Brad Brooks, ReutersPhoto: BILL PUGLIANO / Getty Images via AFP2024-05-22Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
PHOENIX (AP) — The nonpartisan Commission on Presidential Debates, which has planned presidential fa2024-05-22Fascinating 'heat maps' reveal where in the world Brits think famous landmarks are
The famous sights Britons find easiest, and most difficult, to place on a global map have been revea2024-05-22
atest comment