Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
Time:2024-05-21 22:19:37 Source:healthViews(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.
Previous:Here comes the char
Next:Candice Swanepoel wows in a shimmering black flared jumpsuit as she joins ab
You may also like
- Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
- Netflix fans go wild over 'must watch' new drama and say they 'need' a second season 'right now'
- German students experience traditional tea culture in China
- SpaceX launches 23 more Starlink internet satellites into space
- Rangers are undefeated at .500 to keep World Series champs from a losing record with Bochy
- China yields remarkable outcomes of sci
- Kentucky AD Barnhart: No comment on suit by former swimmers alleging sexual misconduct by ex
- Chinese chess competition held in Lebanon
- France is trying Syrian ex