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
Sweden beats France, Britain relegated after losing to Norway at hockey worlds
PRAGUE (AP) — Sweden beat France 3-1 to preserve a perfect record at the ice hockey world championsh2024-05-22My £142k home is unsellable after builders made a MAJOR blunder and then went bust... I'm trapped
A furious leaseholder has claimed he is unable to sell his home because his developer failed to remo2024-05-22Review planned for vaccine payouts as claims soar following the pandemic
A payment system to help those left disabled after having a vaccine and families of those who died i2024-05-22JAN MOIR: Is Basil goose stepping in front of Germans still funny? Of course it bloody is!
Just behind me in row K, a man is watching a football match on his mobile phone. 'Shocking free kick2024-05-22Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
Knowledge advantage can save lives, win wars and avert disaster. At the Central Intelligence Agency,2024-05-22Padres place Musgrove on injured list with elbow inflammation
PHOENIX (AP) — The San Diego Padres placed starting pitcher Joe Musgrove on the injured list with ri2024-05-22
atest comment