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.
Pentagon vows to keep weapons moving to Ukraine as Kyiv faces a renewed assault by Russia
'Devil in the details' when considering biofuels
More productive land being used for urban development, study finds
Colorado reporter's expulsion from Republican gathering causes uproar
US overdose deaths dropped in 2023, the first time since 2018
Teenagers named as victims of Nelson off
Police Minister admits NZ cannot compete with Australian recruitment offer
Finnish police say bullying was motive for school shooting
Online reading or offline clubs? Young Chinese embrace both in digital era
Death toll rises in Taiwan's strongest earthquake in 25 years
Xander Schauffele gets validation and records with one memorable putt at PGA Championship
US, Japan and South Korea agree to expand security and economic ties at historic Camp David summit