Lawmakers Ask Biden Administration To Hike Tariffs On Chinese Drones
Portfolio Pulse from Benzinga Newsdesk
Lawmakers have requested the Biden Administration to increase tariffs on Chinese drones, according to Reuters. This move could potentially impact several US-listed companies and ETFs involved in drone technology or with significant exposure to Chinese markets.
March 20, 2024 | 1:13 pm
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POSITIVE IMPACT
AeroVironment, a US-based drone manufacturer, might see a positive impact as higher tariffs could reduce competition from Chinese drones.
AeroVironment, being a domestic manufacturer, could gain a competitive edge if tariffs on Chinese drones increase, potentially reducing competition and possibly increasing market share in the US.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AgEagle Aerial Systems, a company involved in drone manufacturing, could benefit from increased tariffs on Chinese drones by potentially gaining market share.
Increased tariffs on Chinese drones could reduce competition in the US market, potentially benefiting AgEagle Aerial Systems by increasing its market share and demand for its drones.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Vislink Technologies, which provides video transmission and communication technology that can be used in drones, might see a neutral to slightly positive impact as the market adjusts to tariff changes.
While not a direct manufacturer of drones, Vislink Technologies could benefit from increased demand for its video transmission technology in drones if competitors face higher tariffs.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust (SPY) may see minimal direct impact, but could experience volatility due to broader market reactions to trade policy changes.
While SPY, which tracks the S&P 500, may not be directly impacted, broader market reactions to changes in trade policies and relations with China could introduce volatility.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
iShares China Large-Cap ETF (FXI) might experience negative short-term impact due to potential retaliatory measures or negative sentiment towards Chinese companies.
FXI, which tracks large-cap Chinese companies, could be negatively impacted by retaliatory measures from China or a general negative sentiment towards Chinese companies in the wake of increased tariffs.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70