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.
I'm a cruise ship worker...these are the FIVE things smart passengers always do onboard
Sir Michael Caine, 91, claims London born artist
Hungary will vote against U.N. resolution commemorating the 1995 genocide in Bosnia, minister says
House signs off on FAA bill that addresses aircraft safety and the refund rights of passengers
Australia, New Zealand send planes to evacuate nationals from New Caledonia
An Islamist group used child soldiers in Mozambique attacks, says Human Rights Watch
Opening statements to kick off in Sen. Bob Menendez's criminal trial
Kroos criticizes match officials for offside call in Bayern
My fiancé died on the morning of our wedding day
Mariners activate Dominic Canzone off injured list. J.P. Crawford getting closer to return
Grant Shapps vows he WILL find more planes for mass parachute drop to mark 80th anniversary of D
The Fortune Hotel viewers spot contestant who has already been on another reality TV show