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President Biden

unveils new tariffs on everything from EVs to solar panels from China.

Plus Game Stop and AMC shares soar as the meme stock rally makes a comeback.

The reason a stock price goes up is because investors think that those profits are going

to increase in the future.

With GameStop, it seemed like this was a company that wasn't going to have a lot of

profits in the future. That's the whole thing with Mem stocks. It cuts at the core of everything that investors

think they believe. And Open AI borrows from Hollywood's vision of AI as it launches its new voice assistant.

It's Tuesday, May 14th. I'm Luke Vargas for the Wall Street Journal and here is the AM edition of What's News?

The top headlines and business stories moving your world today. We begin in Washington where the White House has announced a raft of new tariffs on China.

Chinese EVs will soon face 100% tariffs

while the levy on semiconductor and solar cells will double to 50% by 2025 and tariff rates on lithium ion batteries will climb to 25%.

The moves are expected to deepen the rivalry between Washington and Beijing with a Chinese Foreign Ministry

spokesman last week denouncing the expected steps as adding to tensions.

However, White House National Economic Advisor Laelael Brainerd, said that failing to respond would have left American businesses vulnerable.

China's using the same playbook it has before to power its own growth at the expense of others by continuing to invest

...