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
Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
NEW YORK (AP) — Saudi Arabia’s move into tennis will now include a multiyear deal to sponsor the WTA2024-05-22Embassy welcomes 'home' overseas Chinese
The Chinese embassy in the United States welcomed home overseas Chinese in a celebration of the upco2024-05-22Softer economic data call for quick, decisive action
CAI MENG/CHINA DAILYMay data show the Chinese economy is softening year-on-year, from industrial out2024-05-22Romance of Spring: Cherry Blossoms Meet Beauty of Traditional Chinese Costume
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-22Nina Dobrev hospitalized with a neck brace due to serious e
The Vampire Diaries actress Nina Dobrev has been hospitalized after a serious accident on her e-bike2024-05-22TikTok affirms commitment to upholding online safety
NAIROBI, April 10 (Xinhua) -- TikTok, a short-form video hosting platform, on Wednesday highlighted2024-05-22
atest comment