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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ADDITIONAL TARIFFS: In a post to Truth Social, President Donald Trump stated, “Yesterday, China issued Retaliatory Tariffs of 34%, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning that any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set. Therefore, if China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th. Additionally, all talks with China concerning their requested meetings with us will be terminated! Negotiations with other countries, which have also requested meetings, will begin taking place immediately. Thank you for your attention to this matter!”
EXPORTER TAX CREDIT: Trump administration officials are debating the merits of creating a new exporter tax credit, which would be geared toward boosting U.S. manufacturers and issued at the end of the year to offset the effects of retaliatory tariffs as American companies seek to sell their goods in foreign markets, sources familiar with the matter told Bloomberg’s Nancy Cook and Saleha Mohsin.
COUNTER-TARIFFS: The European Commission proposed counter-tariffs of 25% on a range of U.S. goods on Monday in response to President Donald Trump’s tariffs on steel and aluminum, a document seen by Reuters showed. The tariffs on some goods will come into effect May 16 and others on December 1, according to the document, which also showed that bourbon was removed from the original list the Commission was weighing in March.
GREAT CALL WITH SOUTH KOREA: President Trump said via Truth Social, “I just had a great call with the Acting President of South Korea. We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we provide to South Korea. They began these Military payments during my first term, Billions of Dollars, but Sleepy Joe Biden, for reasons unknown, terminated the deal. That was a shocker to all! In any event, we have the confines and probability of a great DEAL for both countries. Their top TEAM is on a plane heading to the U.S., and things are looking good. We are likewise dealing with many other countries, all of whom want to make a deal with the United States. Like with South Korea, we are bringing up other subjects that are not covered by Trade and Tariffs, and getting them negotiated also. ‘ONE STOP SHOPPING’ is a beautiful and efficient process!!! China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen!”
NEGOTIATIONS WITH JAPAN: Secretary of Treasury Scott Bessent stated in a post on X, “Following a very constructive phone discussion with the Government of Japan, @POTUS @realDonaldTrump has tasked me and @USTradeRep to open negotiations to implement the President’s vision for the new Golden Age of Global Trade with @JPN_PMO Shigeru Ishiba and his Cabinet.”
TARIFF ENDGAME: In a report out last night, Politico’s Megan Messerly and Sam Sutton write that Treasury Secretary Scott Bessent had traveled to Florida on Sunday to steer President Trump to focus his messaging on negotiating favorable trade deals or risk the stock market falling further. Citing two people familiar with discussions, Bessent suggested that stocks will remain under pressure unless there is greater emphasis on the endgame with tariffs, which is winning deals with other countries, the report states. The rollout of April 2nd was to create “maximum leverage” over foreign governments, Politico states.
COAL INDUSTRY: President Donald Trump will sign executive orders on Tuesday aimed at boosting the country’s coal industry, Reuters’ Jarrett Renshaw and Timothy Gardner report. Two sources familiar with the matter say Trump is scheduled to sign energy-related orders at the White House at 3 p.m. He plans to sign several executive orders directing the Interior and Energy Departments to take actions to support the industry, including saving coal plants at risk of retirement, according to a source briefed on the details of the event. Publicly traded companies in the space include Alliance Resource Partners (ARLP), Arch Resources (ARCH), Consol Energy (CEIX) and Peabody Energy (BTU).
MORE FROM INDIA: Apple (AAPL) plans to send more iPhones to the U.S. from India to offset the high cost of China tariffs, people familiar with the matter said, The Wall Street Journal’s Yang Jie and Rolfe Winkler report. The adjustments are a short-term stopgap while Apple attempts to win an exemption from President Trump’s tariffs — which Chief Executive Tim Cook obtained during the first Trump administration. The company sees the situation as too uncertain to upend long-term investments in its supply chain, the people said. Trump’s tariff package raises levies on Chinese goods to at least 54% while imposing a 26% rate on Indian goods, the authors note.
AMERICAN WHISKEY: Industries across the U.S. are bracing for higher prices for import ahead of tariffs as well as new restrictions on their exports as countries prepare to retaliate, Alan Rappeport of The New York Times reports. While Trump aims to protect domestic sectors such as steel and aluminum, his tariff strategy is putting the economic squeeze on other American industries. America’s whiskey industry has become a favorite target for retaliation, and the blowback is painful for dstillers and the companies that supply them. Publicly traded stocks include AB InBev (BUD), Constellation Brands (STZ), Brown Forman (BF.A), and Diageo (DEO).
HOLDING CARS: Volkswagen’s (VWAGY) Audi (AUDVF) is holding its cars which arrived after April 2, when U.S. President Donald Trump announced a 25% tariff on autos imports, in U.S. ports, Reuters reports. The Volkswagen brand has around 37,000 vehicles, sufficient for approximately two months of sales, in its U.S. inventory, a spokesperson says.
TARIFF PLAN SHOULD CHANGE: Life Time Group (LTH) CEO Bahram Akradi said President Trump’s tariff campaign could improve the country’s trade position, but the current number of levies would be economically disastrous if not amended, Dean Seal of The Wall Street Journal reports. Akradi said he is hopeful the U.S. can use the new tariffs to negotiate rapid deals across the world to unwind the total amount of levies in global trade. “The strategy of saying ‘we want to be treated correctly, fairly, and with respect’ makes sense,” Akradi said, according to the Journal. “The word tariff is not a beautiful word. I disagree with that-we are in a global economy.”
EXPAND IMMIGRANT DETENTION: Trump administration is seeking to spend tens of billions of dollars for new detention facilities to allow the government to expedite the contracting process and rapidly expand detention, reported The New York Times’ Allison McCann, Alexandra Berzon and Hamed Aleaziz. Public company stocks that could react to the news include Geo Group (GEO) and CoreCivic (CXW).
LAWSUIT: Paramount (PARA,PARAA) and President Trump are set to begin mediation in his $20B lawsuit against CBS News, with both sides choosing a mediator for the case in recent days, Lauren Hirsch and Benjamin Mullin of The New York Times report, citing people with knowledge of the decision. While a mediator will try to help the sides reach a settlement, there is no guarantee an agreement will be reached.
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