on $18 billion worth of Chinese goods. These include a 100% tariff on electric vehicle imports, 50% on solar cells, and 25% on certain steel and aluminum imports. Yahoo Finance Executive Editor"It's unclear precisely how China will react," Sozzi explains, saying that China may go tit-for-tat or decide to take their action even further."This might just be the opening start here for President Biden.
Yahoo Finance's Brian Zazi spoke exclusively to President Biden yesterday and asked about any actions China might take, take a listen and then we'll talk to the man that you see on screen right now.I don't think it'll lead to any international conflict or anything like that, but I think they'll probably try to figure out how they can raise tariffs maybe on products that are unrelated.
He ramped up that rhetoric recently saying I think it was last week and earlier this week, 200% tariffs on China EVs which is basically is a ban.Uh But nonetheless, I asked President Biden a little bit more about China.Take a listen China is fundamentally underwriting their entire industries.They make sure to put everybody else out of business and take over.
Um But that production is pretty much went overseas to have four smelters in this country making aluminum which impacts tinfoil.Yes, I'm curious of the conversations because you talk to a number of the other, other officials within the Biden administration.But what did you learn just about their sense of what they are seeing from the consumer, the sense of how strong and resilient the economy has been and how they are navigating this uncertain time here with their business.