The trade war with China has become a key talking point in the 2024 election, with President Joe Biden expected to increase tariffs on Chinese electric vehicles and former President Trump suggesting a 60% tariff on goods from the country. Interactive Brokers Chief Strategist Steve Sosnick weighs in on what it could mean for investors. He also tells Yahoo Finance Executive EditorUh If you're loving opening bid, hit us with those likes and fire off your questions.
Um, you know, iii, I don't, I tend to look at, um, more what's moving than, than a specific, you know, does it matter too much if, let's say Microsoft is up a quarter of a percent before the open.So, I really want to see if there's anything that's, that's moving in a major way because that'll point me to where the news is.Let's um, first topic for, for us is really reportedly uh President Biden looking at more towers or targeted towers on China.
Um You know, that I was reading just this morning and last night, the economist had a whole series about how globalization is going in reverse and this is possibly another sign of it.We can, we can debate the politics here and then, you know, left and right. So have they, so are we re who's retaliating against whom, you know, at that point, you know, are we retaliating against sort of a state subsidized enterprise by, by reversing by, by putting tariffs on to reverse sort of the implicit subsidy?
But, you know, the risk of stocks is anything that throws sand in the gears of the economy or sand in the gears of the consumer is problematic. But oh yes, you still have multinational companies like a Starbucks, a Tesla inside this country doing business.I right now, I think they, they, I I don't know how they don't take ahead, but this is, but this is kind of the mystery of the stock market now.
Eps and then got whacked anyway because they missed, they said they were pulling back a number uh on their future earnings releases.I mean, we, we can go down a list of Star Starbucks, I think did this.Well, we don't have time for that, but I'll, I'll leave that one alone.So, you know, because in my mind, the question I think has become, have management's gotten better at managing their bottom lines or have they gotten better at managing their look at all the stock buybacks.
Well, something's gotta give and I think maybe it's the analyst getting tired of, of just constantly missing numbers.