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:
Related suggestion:
Mountain goat stuck under Kansas City bridge survives rocky rescueEnglish women's league showdown delayed by teams wearing matching socksWhat we know about Kate Middleton's cancer diagnosisUS measles cases are up in 2024. What's driving the increase?2 Laotian teens return home after release from Myanmar scam casino — Radio Free AsiaSmokescreen: Expert rubbishes govt claim of black market over smokefree legislationUS measles cases are up in 2024. What's driving the increase?Never mind the overcapacity, have some dim sum! — Radio Free AsiaPosts misrepresent White House Easter egg contest, Day of Transgender Visibility proclamationSmokescreen: Expert rubbishes govt claim of black market over smokefree legislation
2.8496s , 6498.375 kb
Copyright © 2024 Powered by Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports ,Stellar Saga news portal