Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
Time:2024-05-21 21:37:54 Source:styleViews(143)
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.
You may also like
- BBC Countryfile star Adam Henson's wife wrote heartbreaking goodbye letters after cancer diagnosis
- Young Girls in Henan Dream of Soccer Glory
- Retired Principal Promotes 'Red Spirit' via Reading
- Boosting Rural Revitalization in Hometown
- Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
- China, New Zealand pledge efforts to further strengthen relations
- Miao Embroiderer Takes Ethnic Intangible Heritage to World Stage
- China launches new relay satellite for Earth
- 'Real life' Martha from Baby Reindeer's million