China hits back with 125% tariffs
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 11 April 2025
⏱️ 6 minutes
🧾️ Download transcript
Summary
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Friday, April 11th, the final day of a very busy trading week. I'm Julie Morgan. |
| 0:16.0 | China is not backing down. Lucid acquires some Nicola assets and Google is letting people go. |
| 0:24.3 | China has announced an increase in tariffs on U.S. goods to 125 percent, up from the previous |
| 0:31.2 | rate of 84 percent, effective April 12th, yes tomorrow, according to the finance ministry. In a statement, China's Ministry |
| 0:39.8 | of Finance warned that if the U.S. continues to substantially infringe upon China's interests, |
| 0:45.9 | we will resolutely take countermeasures and fight to the end. The announcement follows the U.S. |
| 0:51.5 | decision to raise tariffs on Chinese goods. The ministry added that China will disregard any additional U.S. decision to raise tariffs on Chinese goods. The ministry added that |
| 0:55.4 | China will disregard any additional U.S. tariffs imposed on Chinese products. China's finance |
| 1:02.2 | ministry said in a statement that the U.S. imposition of abnormally high tariffs on China seriously |
| 1:08.4 | violates international and economic trade rules, basic economic laws, |
| 1:13.6 | and common sense, and is completely unilateral bullying and coercion. |
| 1:19.7 | Electric Vehicle Maker Lucid Group has won a bid to acquire select facilities and assets in Arizona, |
| 1:26.3 | previously belonging to Nicola. According to the court |
| 1:29.3 | filing, Lucid committed around $30 million in cash and non-cash considerations in exchange for |
| 1:36.0 | Nicola's manufacturing facility in Coolidge, Arizona. Its Coolidge and Phoenix HQ leases and |
| 1:42.7 | certain machinery, equipment, and inventory. |
| 1:46.1 | These facilities collectively add more than 884,000 square feet to Lucid's Arizona footprint. |
| 1:52.9 | In addition, Lucid plans to offer employment to more than 300 former Nicola employees |
| 1:58.3 | in roles across its Arizona facilities. The transaction does not include the acquisition of Nicola employees enrols across its Arizona facilities. |
| 2:01.5 | The transaction does not include the acquisition of Nicola's business, customer base, or a |
| 2:07.2 | technology related to Nicola's hydrogen fuel cell electric trucks. |
... |
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