Week in review: How Trump's policies moved stocks - InvestingChannel

Week in review: How Trump’s policies moved stocks

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 Trump and his administration with this weekly recap compiled by The Fly: 1. TARIFF EXEMPTIONS: U.S. President Donald Trump is planning to give the EU, Canada and Mexico a “final” 30-day extension to June 1 of their exemption from the 25% steel and 10% aluminum tariffs, the Financial Times reported earlier this week, citing two sources familiar with White House deliberations. The move comes as the Trump Administration is reportedly close to a deal with Canada and Mexico over the North American Free Trade Agreement and has also been in talks with the EU. Publicly traded metal producers include U.S. Steel (X), Century Aluminum (CENX), Alcoa (AA), and AK Steel (AKS). 2. FOREIGN INVESTMENT: U.S. Treasury officials met with roughly 10 industry groups to go over the latest draft of legislation that would tighten rules over foreign investment in an effort to limit Chinese attempts to acquire sophisticated U.S. technology, Reuters reported on Monday, citing four sources familiar with the meeting. A senior Treasury official said that the meeting was “uniformly positive,” the report said. “We didn’t negotiate text at the meeting so much as get everyone in the room to tell them where we are and the direction the bill would take,” the senior official told Reuters. “We had made a number of changes to provide clarity in the bill for industry, but at the same time, hold the line on national security.” 3. AUTOMAKERS: President Donald Trump is planning to meet with top automakers in the coming days amid concerns over his trade policies and an emerging schism with California over environmental regulations, according to Bloomberg, citing two White House officials. The meeting comes as the Environmental Protection Agency and National Highway Traffic Safety Administration are finalizing a proposal to recommend freezing efficiency standards from model year 2020 through 2026 at 37 miles per gallon, which California Attorney General Xavier Becerra is challenging with a lawsuit. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). “Week in Review” is The Fly’s weekly recap of its recurring series of “Trump Effect” exclusive stories.