travel

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

Font size+Author:Planet Pulse news portalSource:entertainment2024-05-22 04:12:44I want to comment(0)

WASHINGTON (AP) — As president, Donald Trump imposed a 25% tariff on foreign steel, which hurt Clips

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
  • Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise

    Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise

    2024-05-22 03:53

  • Retrial of Harvey Weinstein unlikely to occur soon, if ever, experts say

    Retrial of Harvey Weinstein unlikely to occur soon, if ever, experts say

    2024-05-22 03:29

  • Temporary farmworkers get more protections against retaliation and other abuses under new rule

    Temporary farmworkers get more protections against retaliation and other abuses under new rule

    2024-05-22 03:13

  • China issues guidelines on region

    China issues guidelines on region

    2024-05-22 01:34

Netizen comments