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.
China vows to actively promote restoration of int'l flights
A family of forest rangers makes a difference
Industry sees OpenAI's Sora as a game changer
China's first new energy vehicle battery base in Northeast was established in Changchun
Pope trip to Luxembourg, Belgium confirmed for September, 2 weeks after challenging Asia visit
Beijing slams Washington for spreading false info
Peace still elusive for Ukraine crisis
Explainer: How Is China's Vision of Building a Community with a Shared Future for Mankind Viewed?
Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
Xi Story: Fostering and Mentoring Young Officials
Yu Darvish extends scoreless innings streak to 25 in Padres' 9
China secures Paris women's epee berth with World Cup silver