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.
The government wants to buy their flood
Regulation Passed to Protect Great Wall's Oldest Section in East China
2022 China Int'l Travel Mart Kicks off in Kunming
Across China: More Young Chinese Sign up to Become Organ, Body Donors
40th Anniversary of China National Children's Center Celebrated in Beijing
World Robot Conference 2022 Held in Beijing
Autumn Harvest in Full Swing Across China
National Great Craftsman Forum Opens in Changsha, C China