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 and his administration with this weekly recap compiled by The Fly:
1. 10% TARIFFS: On Monday night, the White House announced new 10% tariffs on over 5,000 products from China that will rise to 25% on Jan. 1 2019. The latest round of tariffs targets $200B worth of Chinese goods and the White House confirmed its prior threat for a third phase of duties targeting another $267B of goods should China retaliate.
2. APPLE: Bloomberg reported that The Trump administration would spare a number of technology products, including the Apple (AAPL) Watch and AirPods headphone, from its final list of $200B of Chinese products being hit with the new 10% tariff.
3. WALMART: Walmart (WMT) said that it may raise prices of products if the Trump administration goes forward with implementing tariffs on Chinese imports, Reuters reported, citing a letter the company wrote to U.S. Trade Representative Robert Lighthizer. The retailer, which urged the two countries to find solutions, said the tariffs would affect prices of everything from food products to beverages and personal care items.
4. AGRICULTURE: On Tuesday, President Trump tweeted, “China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me. What China does not understand is that these people are great patriots and fully understand that…China has been taking advantage of the United States on Trade for many years. They also know that I am the one that knows how to stop it. There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!” Farm-related companies include equipment makers Deere (DE) and AGCO (AGCO), processor Archer-Daniels-Midland (ADM) and fertilizer makers Mosaic Company (MOS) and CF Industries (CF).
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