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.
Sophie Morgan suddenly quits ITV show Loose Women as she reveals plans for emigration
Shen Yueyue Calls for Women's Contributions to a Successful Beijing 2022
Shen Addresses via Video Link at Fourth SCO Women's Forum
ACWF Holds Meeting for Presidents of Provincial
China to Launch Law Popularization Campaign Aimed at Rural Women
CCTF, Sinopec Launch 'Spring Bud Gas Station' in Beijing
Huang Xiaowei Visits CWU Volunteers for Beijing 2022
Nadal returns to Roland Garros to practice amid doubts over fitness and form
Various Activities Held Across China During New Year Holiday
Tourism boosts China's social, economic development
Chinese State Councilor Meets Thai Princess Sirindhorn