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. HARLEY-DAVIDSON: Shares of Harley-Davidson (HOG) were under pressure on Monday after President Donald Trump renewed his criticism of the company over the weekend, applauding a potential boycott of the company amid its production shift overseas. In a tweet, the President said: "Many @harleydavidson owners plan to boycott the company if manufacturing moves overseas. Great! Most other companies are coming in our direction, including Harley competitors. A really bad move! U.S. will soon have a level playing field, or better." 2. U.S.-CHINA TALKS: A Chinese delegation will meet U.S. representatives led by Under Secretary of Treasury for International Affairs David Malpass in a new series of trade talks to be held later in August, Reuters reported on Thursday. Then, on Friday, The Wall Street Journal said that Chinese and U.S. negotiators are preparing a road map for discussions to end their trade dispute culminating with meetings between President Trump and Chinese leader Xi Jinping at multilateral summits in November. To clear the path for the meetings later this year, both sides have scheduled midlevel discussions in Washington next week, the report said, citing officials in both nations. 3. SOLAR TARIFFS: Meanwhile, China's Commerce Ministry has filed a complaint with the World Trade Organization to determine the legality of the U.S. decision to subsidize its renewable energy industry and charge a tariff on imported products, according to Reuters. Publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunEdison (SUNEQ), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). 4. TURKEY DOUBLES TARIFFS: Turkey has doubled tariffs on some U.S. imports, such as cars, alcohol and tobacco, in what its vice president said was a response to deliberate U.S. attacks on the Turkish economy, Reuters reported. A decree signed by President Tayyip Erdogan, doubled Turkish tariffs on passenger cars to 120%, on alcoholic drinks to 140% and on leaf tobacco to 60%, Tariffs were also doubled on goods such as cosmetics, rice and coal in retaliation for U.S. moves. Last Friday, U.S. President Donald Trump said he had authorized higher tariffs on aluminum and steel imports from Turkey. 5. BUY AMERICAN: The Trump administration is preparing a new executive order expanding rules favor U.S.-made products in government projects, CNBC reported earlier this week, citing four administration officials and two other people familiar with the matter. The order, which appears to be close to completion, would apply current "Buy American" provisions to programs that are not presently covered, the report noted. 6. SEC REPORTING: In a Friday morning tweet, President Trump said he asked "some of the world's top business leaders" what could make business even better in the U.S., to which one replied, according to him: "Stop quarterly reporting & go to a six month system." Trump added: "That would allow greater flexibility & save money. I have asked the SEC to study!" He later attributed the suggestion to PepsiCo's (PEP) Indra Nooyi, who stated to Reuters that her comments to President Trump included a suggestion to explore the "harmonization" of the European and U.S. financial reporting systems, adding that "companies have to balance short-term and long-term performance." "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
