Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
Release time：2024-05-22 02:37:13 Source：Stellar Site news portal
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
- Patrick Reed withdraws from US Open qualifying and ends streak of playing the majors
- HKSAR LegCo unanimously passes national security bill
- Beijing airports enhance payment facilities for foreigners
- Back to countryside, new trend amid China's rural revitalization drive
- Scottie Scheffler's Louisville court date postponed after arrest during PGA Championship
- Village in Hainan explores new developing model to advance rural revitalization
- Firms listed on Shenzhen bourse see steady performance in 2023
- Wondrous Xinjiang: Project renovating old residences revitalizes ancient city
- 'Real life' Martha from Baby Reindeer's million
- Ice and snow tourism propels NE China into high
- David Ortiz is humbled by being honored in New York again; this time for post
- Activist and model Charli Howard reveals how her 'manipulative' ex
- WEF chair expresses confidence in Chinese economy
- Hayao Miyazaki's animated fantasy leads Chinese box office
- Sienna Miller's lookalike daughter Marlowe, 11, makes her first ever red carpet appearance
- 2 dead, 3 missing as ship hits bridge in south China
- Rod Stewart, 79, is joined by his son Aiden, 13, while cheering on his beloved Celtic during their 3
- Number of Nanjing Massacre survivors down to 36
- LeBron James UNFOLLOWS Diddy on Instagram after video of assault on ex
- Accelerating economic development helps solve 'hollowing out' of border areas
Random recommendation
- Copyright © 2024 Powered by Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports ,Stellar Site news portal sitemap