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.
How Robert F. Kennedy Jr. could make the first debate stage
Macao SAR Legislative Assembly approves chief executive election law amendments
Senior CPC official stresses protection, inheritance of cultural heritage
Senior CPC official stresses Fengqiao model for governance
Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
Brentford beats Sheffield United to halt 9
Chinese premier stresses nurturing new drivers for high
Senior CPC official stresses protection, inheritance of cultural heritage
It's no wonder parents are taking their children on holiday during term time! Sky
Craze for Masters gnomes grows. The little golf
Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
Rule of law to consolidate high