Biden to Quadruple China EV Tariffs, Putin Reshuffle | Bloomberg The Pulse 05/13/24

US President Joe Biden will quadruple tariffs on Chinese electric vehicles and sharply increase levies for other key industries this week. Sources tell Bloomberg the total tariff on Chinese EVs will rise to 102.5% from 27.5%. In other geopolitical news, Russian President Vladimir Putin has replaced his long-serving defense minister with his former economy aide, and US Secretary of State Antony Blinken says Israel risks fueling a Hamas insurgency in post-war Gaza.
Today's guests: Trevor Greetham, Royal London Asset Management; Leslie Vinjamuri, Chatham House
Video Chapters
00:00 Intro
02:37 Biden to hike tariffs on China EVs, offer solar exclusions
07:10 Trevor Greetham, Royal London Asset Management
19:24 SoftBank scores another profit to fuel Arm-centered AI shift
22:19 Vladimir Putin names economist Andrey Belousov as Defense Min. in surprise reshuffle
25:13 Leslie Vinjamuri, Chatham House
34:23 Qatari economy in focus as QEF begins Tuesday
39:40 EMEA Earnings Week Ahead: Vodafone, Deutsche Telekom
41:10 Cooling core CPI will offer minimal relief to the Fed
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
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[@greentraveler4114]

When American dumping its overcapacity cars, planes, iphones, ipads, elevators, soy beans, pharmaceuticals all over the world, they apparently forgot how did they destroy local manufacturing in other countries. Now they can't compete with the Chinese, they forget free market competition.

[@Do-not-be-sheep]

Never happened because the USA does not allowing dumping and is a democracy with a free press and an opposition party.

[@Do-not-be-sheep]

American companies do NOT dump production. The USA does not subsidize these industries so American and European companies gear their production to demand. The USA and Europe are China's customers - without them China collapses and China is about to discover what happens when you lie to and cheat your customers. Noone can compete with a communist country (CHina) where the government uses bribes and subsidizes domestic manufacturers while blocking products from foreign companies.

[@tonyatgoogle6076]

Ban it. Its national security. Make sure car prices remain high so average Joe can be priced out.

[@air2theron862]

Let's go Brandon!!!

[@tedwong7037]

Tesla has also enjoyed Chinese subcidies in china as well, it even lowered the price to meet the subcidy requirement.

[@datianlongan5567]

Why not simply buy out the Chinese EV company that post the most threat to our national security? BYD at current market valuation of ~$85B USD would be a fraction of the cost required to protect our oil fields in the middle east.

[@MLJclassics]

In your dream 😂

[@alexleanh]

You can't buy something that is NOT for sale. What you're saying is the equivalent of the Chinese just buy Tesla.

[@joem0088]

No competitiveness.

[@wifi5044]

you know仙人。idont konw.more

[@Do-not-be-sheep]

Once again will Biden just talk about or will he actually do it before the next election.

[@Do-not-be-sheep]

Every country should bar ev imports from China until China demonstrates through action that it wants to be a member of the international community. Starting with a reduction of their carbon emissions. China is the largest carbon producer in the world producing more carbon than the USA europe japan Korea and canada combined

[@herrwolf5184]

Yes but they also have the production capacity more than USA Europe Japan Korea and Canada combined, so its only natural they have high carbon emission.

[@hitthedeck4115]

Because of the large population and the rate of industrialization. US, Canada, and Australia each has more than double China's CO2 emission per capita. Only Japan and some European countries have it slightly above China. The US especially, need to reduce their CO2/capita at least to Japan's or Germany's level since they have both fairly large population and CO2 emission/capita.

[@Do-not-be-sheep]

You left out Russia - I wonder why? It does NOT matter if some countries, which produce a very small fraction of China's total carbon produce more per capita. The global climate only responds to the TOTAL production of carbon. China has been overstating it's population by 200 million to make their per capita numbers look better while understating their total carbon. While China has been increasing its carbon exponentially Europe, USA, Canada and Australia have been reducing their carbon emissions. Using 2023/2024 numbers - China now produces more carbon than all other G20 countries combined and tops the G20 list for per capita emissions as well.

[@yeah2011bb]

Give us a break you unhinged Americans. We in the rest of the world will buy the best most affordable EVs … if they are Chinese so be it ….

[@Do-not-be-sheep]

@@herrwolf5184 that is a false statement check your facts. The industrial capacity of the USA and China are almost identical now add europe japan and Korea to the USA industrial output and it eclipses china