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 20:40:17 source:Global Gist 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
  • Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
  • Wang wraps up tour of New Zealand, Australia
  • China slams Eswatini PM for visiting Taiwan
  • Special envoy pushes for peace, stability in region
  • Julian Assange's five
  • FM envisions ties with Benin, League of Arab States
  • Xi extends condolences to Putin over deadly Moscow concert hall terror attack
  • China and U.S. hold military maritime meeting
Recommended content
  • How Robert F. Kennedy Jr. could make the first debate stage
  • China strongly opposes Blinken's criticism of Article 23
  • '143 people still missing' after Moscow attack
  • Xi meets U.S. guests
  • Jennifer Garner visits ex
  • Wang wraps up tour of New Zealand, Australia