At a White House event, US President Joe Biden is shedding light on his plans to increase tariffs on $18 billion worth of Chinese exports. Among the products seeing increases: tariffs on certain steel and aluminum products will rise from 0–7.5% to 25%, semiconductor tariffs will increase from 25% to 50% by 2025, and tariffs on electric vehicles will rise from 25% to 100%.

President Biden also sits down with Yahoo Finance's Brian Sozzi in an exclusive interview to discuss what he hopes to achieve through these tariffs.