Protect American jobs by getting tough on China.
That’s the underlying idea behind President-elect Donald Trump’s threat of a 45% tariff against China as a ploy to bring jobs back to America.
Before pursuing that strategy, however, Trump might want to check out what happened when his predecessor tried that.
President Obama slapped a stiff 35% tariff on Chinese tires in 2009 after American companies complained about unfair competition. They said China was flooding America with tires at low prices making it tough for U.S. companies to compete. The tire tariff gradually waned, and finally ended in 2012.
The tariff saved 1,200 U.S. tire jobs, which had been in sharp decline. And U.S. tire production rose after a major decline.
“Over a thousand Americans are working today because we stopped a surge in Chinese tires,” Obama said in his 2012 State of the Union address.
But a study from the Peterson Institute of International Economics found that the tariffs cost Americans in many other ways.
Top 5 Low Price Stocks To Own Right Now: Goldfield Corporation (The)(GV)
- [By Jim Robertson]
Just before Thanksgiving, our Under the Radar Moversnewsletter suggested buying small cap electrical infrastructure stockGoldfield Corp (NYSEMKT:GV):
Top 5 Low Price Stocks To Own Right Now: Jacobs Engineering Group Inc.(JEC)
- [By Chris Lange]
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Tuesday was Jacobs Engineering Group Inc. (NYSE: JEC) which rose about 9% to $64.92. The stocks 52-week range is $49.31 to $65.29. Volume was1.8 million compared to its average volume of less than 1 million.
- [By Ben Levisohn]
Lee offers 22 stocks that could benefit from the correlation trade: Western Digital (WDC), Xerox (XRX), First Solar, Ford Motor, Best Buy (BBY), PulteGroup (PHM), AutoNation (AN), Textron (TXT), Jacobs Engineering Group (JEC), Mosaic, BB&T (BBT), Fifth Third Bancorp (FITB),Loews (L), Regions Financial (RF), KeyCorp (KEY), Comerica (CMA), Leucadia National (LUK), Zions Bancorp (ZION), Valero Energy (VLO), Marathon Oil, Cardinal Health (CAH), and Pepco Holdings (POM).
Top 5 Low Price Stocks To Own Right Now: KBR, Inc.(KBR)
- [By ]
KBR (NYSE: KBR)
Though an under-the-radar name, KBR was the construction arm of oilfield services giant Halliburton (NYSE: HAL) before being spun off. With a consolidated market cap of $2.6 billion, KBR describes itself, per its website, as a “global provider of differentiated professional services and technologies within the Government Services and Hydrocarbon sectors.”
- [By WWW.THESTREET.COM]
KBR (KBR) was upgraded to buy from neutral at Bank of America/Merrill Lynch. $20 price target. The company is leveraged to higher defense spending and is attractively valued, analysts said.
Top 5 Low Price Stocks To Own Right Now: Canon, Inc.(CAJ)
- [By Dan Carroll]
Nikon’s story is similar to what’s plaguing its Japanese rival, Canon (NYSE: CAJ ) . Canon’s stock has nosedived by 20% year to date, but the stock’s recovered nearly 3% over the past month. Don’t let appearances fool you: The company slashed its full-year sales and profit forecasts back in July, as the worldwide camera market has slumped, and as smartphones continue to take over this aging niche. Canon’s route back to respectability looks like a treacherous climb.
- [By Paul R. La Monica]
Miscellaneous shorts. Lamensdorf is also betting against Japanese printer and camera giant Canon (CAJ) since he believes the company still hasn’t figured out a way to compete with smartphones.
Top 5 Low Price Stocks To Own Right Now: Omega Protein Corporation(OME)
- [By Lisa Levin]
Omega Protein Corporation (NYSE: OME) was down, falling around 20 percent to $17.47 after the company reported weaker-than-expected results for its fourth quarter.
- [By Lisa Levin]
Omega Protein Corporation (NASDAQ: OME) shares dropped 21 percent to $20.65 after the company posted weak Q4 earnings.
Shares of Endeavour Silver Corp (NYSE: EXK) were down around 22 percent to $3.41. Endeavour Silver reported a Q4 loss of $5.2 million.