Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:
CHINA RAISES TARIFFS: China raised its tariffs on U.S. goods to 125% from 84%. “If the U.S. continues to impose tariffs on Chinese goods exported to the U.S., China will ignore it,” the government said in a statement.
DELISTING CHINESE COMPANIES: The Trump administration is proceeding toward a possible delisting of Chinese public company shares on U.S. exchanges, Fox Business Network’s Charles Gasparino reports, citing sources. Incoming SEC chair Paul Atkins will likely oversee the delisting issue when he officially assumes office, the author says, noting that such a move would come amid a trade war with China but also amid a growing GOP congressional appetite to delist Chinese companies. Chinese companies that publicly trade in the U.S. include Alibaba (BABA), Yum China (YUMC), Tencent (TCEHY), NetEase (NTES), PDD (PDD), Nio (NIO), Baidu (BIDU), and JD.com (JD).
DEAL ON TARIFFS: President Trump says the first deal with another countries regarding tariffs is “close.” He would like to come to agreement on a tariff deal with China, but if “we can’t make a deal, then we go back to where we were,” Trump added. The “EU is very smart, but they really have taken advantage of the United States,” Trump also stated. President Trump was speaking with reporters following a cabinet meeting.
WATER OWED: President Donald Trump stated in a Truth Social post, “Mexico OWES Texas 1.3 million acre-feet of water under the 1944 Water Treaty, but Mexico is unfortunately violating their Treaty obligation. This is very unfair, and it is hurting South Texas Farmers very badly. Last year, the only Sugar Mill in Texas CLOSED, because Mexico has been stealing the water from Texas Farmers. Ted Cruz has been leading the fight to get South Texas the water it is owed, but Sleepy Joe refused to lift a finger to help the Farmers. THAT ENDS NOW! I will make sure Mexico doesn’t violate our Treaties, and doesn’t hurt our Texas Farmers. Just last month, I halted water shipments to Tijuana until Mexico complies with the 1944 Water Treaty. My Agriculture Secretary, Brooke Rollins, is standing up for Texas Farmers, and we will keep escalating consequences, including TARIFFS and, maybe even SANCTIONS, until Mexico honors the Treaty, and GIVES TEXAS THE WATER THEY ARE OWED!”
