The Biden administration is set to announce increased tariffs on Chinese imports, including semiconductors, minerals, and electric vehicles. The move is seen as a protective measure for American industry, but will the defensive policy backfire on consumers?
Former Home Depot CEO Bob Nardelli joins Catalysts to discuss the Biden administration's policy on EVs, increased tariffs on Chinese imports, and more.
Nardelli explains that he is a proponent of the free market and doesn't understand a move to "force" electric vehicles: "Here we are again now trying to force EVs when we don't have enough electricity or chargers. We know that AI will dwarf the bitcoin (BTCUSD) data centers. And this is going to suck electricity out of the grid and we don't see major investments going into grid because of this war on fossil fuel. So I don't understand. I don't understand the logic, the simplicity of trying to make these ambiguous decisions in what we're trying to do to this economy."
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