Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports !

Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports

Time:2024-05-21 21:50:28 source:Culture Circuit 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 information
  • Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
  • 8th China (Shanghai) International Technology Fair kicks off
  • Airlines see significant recovery in bookings
  • Innovative former livestreamer assembles striking pieces of electronics art
  • Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
  • Northerners head south for warmth
  • China State Shipbuilding Corp wins world's first ammonia
  • Luxury shopping over extended holiday heating up
Recommended content
  • Nina Dobrev hospitalized with a neck brace due to serious e
  • Temperature monitoring implemented to reduce loss of grain in N China's Tianjin
  • China's new
  • China prepares to launch Tianzhou
  • Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
  • Space contractors release China's annual launch plan