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. |
Roger Corman, Hollywood mentor and 'King of the Bs,' dies at 98In progressive Argentina, the LGBTQ+ community says Milei has turned back the clockYokohama rallies past AlI was a stalking victim of the realXinhua Commentary: Strong spending highlights vitality of China's economyClevinger combines with 3 relievers on a 4Clement gets winning hit as Blue Jays rally to beat redYokohama rallies past AlMan found dead after Ohio movie theater shooting. Person considered suspect is arrestedSherpa guide Kami Rita scales Mount Everest for 29th time, extending his own record again