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. |
Xi says he enjoys Yugoslav films, songs when youngBank of America trader, 25, dies suddenly 'of a cardiac arrest' during work eventFraming growing cultural connectionsExperts strategize to elevate Chinese sciTrump sees massive surge in the polls with surprise demographic: 'Truly historic'Prince William is set to be an usher at the Duke of Westminster's 'society wedding of the year'2 shot dead on outskirts of ParisColumbia University encampment holds on as negotiation in progressAI, digital technologies inject new impetus to cultural tourism boomSuzhou Symphony Orchestra embarks on Algeria tour