Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
Release time：2024-05-21 20:15:15 Source：Earth Examination 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
- 'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
- In pics: World Aquatics Diving World Cup 2023 Super Final
- 5 Chinese nationals, 1 Pakistani killed in terrorist attack in NW Pakistan
- Basketball competition participated by local residents held in Hangzhou
- Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
- UN plans mission to Gaza's Al Shifa hospital after Israeli withdrawal
- Chinese mainland warns against Taiwan military's provocations
- 2024 Kearney FDI confidence index upgrades China's ranking from 7th to 3rd
- JoJo Siwa goes wild: Karma singer accused of getting drunk at Disney World after turning 21
- Final survivor of USS Arizona after Pearl Harbor attack dies at 102
- Ricky Stenhouse punching Kyle Busch could lead to suspension
- Chinese border region not affected by radiation source in Russian city: Authorities
- Russia says proof show link between Moscow attack terrorists, Ukraine
- China making efforts to boost employment: Minister
- US overdose deaths dropped in 2023, the first time since 2018
- Chinese premier chairs meeting to solicit opinions on economic work
- Police warn of traffic safety risks ahead of Qingming Festival
- Türkiye's opposition takes election lead in key cities
- Amal Clooney played key role in ICC bid to request arrest warrants for Israeli PM and Hamas leader
- Chile to recall ambassador from Venezuela for consultations
Random recommendation
- Copyright © 2024 Powered by Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports ,Earth Examination news portal sitemap