U.S. to impose tariffs on Chinese EVs - report
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 10 May 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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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, May 10th. I'm Julie Morgan. |
| 0:12.0 | The U.S. is reportedly considering tariffs on Chinese |
| 0:15.6 | TVs. McDonald's is poised to focus on digital marketing and open AI is set to |
| 0:22.1 | unveil its alternative to Google. |
| 0:25.0 | According to news reports, the Biden administration is expected to announce new tariffs on Chinese electric vehicles and other strategic sectors, including batteries and solar equipment. |
| 0:37.0 | Bloomberg reported citing people familiar with the matter that the fresh levies are a result of the White House's multi-year review of the Trump era section 301 tariffs that began in 2022. |
| 0:49.6 | The news dragged Chinese EV stocks lower in early US premarket trading, including Neo down 1.9% and Lee |
| 0:58.2 | auto down 1.7%. Last month, Biden had proposed raising tariffs on Chinese steel and aluminum products to 25 percent, |
| 1:07.6 | more than triple the current levy of 7.5 percent. The new tariffs could push Beijing to retaliate at a time when China-US trade ties are already under pressure. |
| 1:18.0 | China has said the tariffs imposed by the US are counterproductive and inflict harm on the global economy. |
| 1:25.0 | Microsoft backed open AI is planning to unveil its artificial intelligence powered search |
| 1:30.8 | product as soon as Monday to rival Google and AI search startup |
| 1:35.4 | perplexity. Two sources familiar with the matter told Reuters that the product |
| 1:40.4 | which will be added to chat gp.PT will be able to search the web for |
| 1:44.7 | information and site sources in its results much like Google. Open AI's |
| 1:49.8 | announcement will likely happen a day before the annual Google I.O. conference kicks off on |
| 1:55.4 | Tuesday where the search giant is expected to unveil new AI-related products and updates on its |
| 2:02.0 | AI model Gemini. |
| 2:04.0 | And while we're on the topic of AI, |
| 2:07.0 | you can definitely expect to hear more about AI |
| 2:10.0 | at the first ever Seeking Alpha Investing Summit. |
... |
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