In This Article:
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:
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TARIFF PLAN: President Donald Trump’s team is finalizing plans for reciprocal tariffs to be unveiled on Wednesday, with multiple proposals under consideration, including a tiered tariff system and a customized reciprocal plan, Bloomberg’s Josh Wingrove and Jennifer A. Dlouhy report. The tariffs are expected to take immediate effect, with countries able to negotiate to bring rates down, and could apply widely, even to countries with which the U.S. doesn’t have a trade imbalance.
TIKTOK: President Donald Trump will consider a proposal for divesting TikTok’s U.S. operations from ByteDance, just days ahead of a deadline for a sale of the app, Stephanie Lai and Josh Wingrove of Bloomberg report, citing people familiar with the matter. The administration is considering a deal that would include Oracle (ORCL) and Blackstone (BX) and potentially other investors in a joint venture, Bloomberg’s sources added. Companies in the social media space that compete with TikTok include Meta (META), Alphabet’s YouTube (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
OCEAN SHIPPING INDUSTRY: President Donald Trump’s tariff plan has the ocean shipping industry on edge as he fuels the fire to a trade war set to restrict transport demand and force companies to manage the fallout, Lisa Baertlein, Victoria Waldersee and Renee Maltezou of Reuters report. Major global container shipping firms handle about 80% of global trade and are reliant on companies now being impacted by Trump’s escalating tariffs. Companies in the space include ZIM Integrated (ZIM), Global Ship Lease (GSL), Matson (MATX), Knot Offshore Partners (KNOP), and StealthGas (GASS).
PRICE CUTS: Walmart (WMT) is pushing Chinese suppliers to cut prices to offset President Trump’s tariffs, Bloomberg News reports, citing people familiar with the matter. The company has not backed down from its requests to suppliers to cut prices by as much as 10% for each round of tariffs, a source told Bloomberg.
INVESTING IN THE U.S.: China’s top economic planning agency, the National Development and Reform Commission – NDRC – has taken measures to restrict local companies from investing in the U.S., Bloomberg reports, citing people familiar with the matter. Several branches of the agency have been ordered to hold off on approval for firms looking to invest in the U.S., and the move may provide Beijing with greater leverage for potential trade negotiations as the Trump administration is preparing to unveil its tariff plans later today, the report states.