travel

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

Font size+Author:Culture Curves news portalSource:sport2024-05-22 00:36:14I 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
  • Trump film shocks Cannes as former US President is depicted 'raping' his then

    Trump film shocks Cannes as former US President is depicted 'raping' his then

    2024-05-22 00:20

  • China Issues Dietary Handbook for Kids with Growth Failure

    China Issues Dietary Handbook for Kids with Growth Failure

    2024-05-21 23:44

  • China Focus: TCM Sees Rising Popularity Among Young People

    China Focus: TCM Sees Rising Popularity Among Young People

    2024-05-21 23:12

  • Various Folk Cultural Activities Held to Welcome Upcoming Lantern Festival in China

    Various Folk Cultural Activities Held to Welcome Upcoming Lantern Festival in China

    2024-05-21 22:42

Netizen comments