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 21:31:23 source:Worldly Window 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
  • Messi in and Dybala out in Argentina squad for pre
  • Springtime blossoms add cheer to tourism
  • Zheng Qinwen stopped in U.S. Open quarterfinals, Wang Xinyu into doubles semis
  • Events kick off for Kanas culture and tourism week
  • Kristin Cavallari, 37, ignores critics of her age
  • Hapoel Tel Aviv, Hapoel Jerusalem reach Tel Aviv Winner Tournament final
  • Thrifty Asian Games puts spring in the step of rural students
  • Roof of the world inhabited since 50,000 years ago: archaeologists
Recommended content
  • Israeli army says it kills over 130 militants in E. Rafah
  • Italian thrill seekers head to China for extreme sports on world's highest bridge
  • Chinese judoka Guo collects bronze on opening day of Hangzhou Asiad
  • In pics: sailing race at 19th Asian Games
  • Children are evacuated from school 'during an exam' after threat made via email
  • China releases typical cases endangering national security