The Biden administration's decision to impose tariffs on $18 billion worth of imports from China could help a handful of stocks break out, according to Morgan Stanley. The tariffs announced Tuesday cover all manner of goods imported from China, from electric vehicles to solar cells to certain types of steel and aluminum. The move follows weeks of warnings from White House officials that called for China to change trade practices that the U.S. said hindered global supply chains.
mountain First Solar stock. Shares have ticked up nearly 9% in 2024 versus a 10% gain for the S & P 500. Morgan Stanley maintains an overweight rating on First Solar stock. "As a result, we would expect bookings momentum to accelerate and pricing to improve," if the Anti-Dumping and Countervailing Duties petition is accepted by the Department of Commerce and International Trade Commission, the analysts wrote.
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