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:
Planned Parenthood announces $10 million voter campaign in North Carolina for 2024 electionJon Bon Jovi, 62, admits 'EVERY day is a challenge' in his 35Feyenoord coach Arne Slot says his club in talks with Liverpool over a move to AnfieldOrpheus Pledger: Home and Away star is arrested after sparking a threeTrump downplays deadly Charlottesville rally with comparison to campus protestsExperts warn about Venezuela's broken HPV vaccine promisesExperts warn about Venezuela's broken HPV vaccine promises17 states challenge federal rules entitling workers to accommodations for abortionExperts warn about Venezuela's broken HPV vaccine promisesBody believed to be that of trucker who went missing in November found in Iowa farm field
2.6581s , 6499.703125 kb
Copyright © 2024 Powered by Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports ,World Wander news portal