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. AUTO-TRADE DEAL: President Donald Trump said there will be "tremendous retribution" if his meeting with EU officials next week does not result in what he views as a fair auto-trade deal, the Wall Street Journal reported on Wednesday. European Commission President Jean-Claude Juncker plans to visit the White House next Wednesday to "discuss a wide range of priorities, including foreign and security policy, counterterrorism, energy security, and economic growth," the report noted. Meanwhile, the publication also said that the U.S. auto complex, including manufacturers, parts suppliers and dealers are aligned in a "push back" against the Trump administration's proposal to apply tariffs on vehicles and components imported into the U.S., contending the administration's trade policy "will backfire and lead to higher prices and lost jobs." On Thursday, Reuters reported that the EU is readying a list of counter-measures to potential U.S. tariffs on European vehicles. 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). 2. GOOGLE: President Trump tweeted on Thursday, "I told you so! The European Union just slapped a Five Billion Dollar fine on one of our great companies, Google [GOOG; GOOGL]. They truly have taken advantage of the U.S., but not for long!" 3. DRUG PRICES: President Donald Trump tweeted on Thursday, "Thank you to Novartis [NVS] for not increasing your prices on prescription drugs. Likewise to Pfizer [PFE]. We are making a big push to actually reduce the prices, maybe substantially, on prescription drugs." Later on Thursday, Merck (MRK) announced that it is committing to not increase the average net price across its portfolio of products by more than inflation annually and lowering its price on ZEPATIER by 60% and several other medicines by 10% to reduce out-of-pocket costs for U.S. patients. On Friday, Roche (RHHBY) told Dow Jones Newswires that it will not be taking any U.S. price increases for the remainder of the year. Sanofi (SNY) and Merck KGaA (MRK) also told Dow Jones they would either commit to their pricing strategies, or that they didn't have plans to raise prices in the U.S. 4. BOEING: On Wednesday, the White House Press Secretary issued a statement on the Air Force's award of a firm fixed price contract to Boeing (BA) to design, modify, test, certify, and deliver two Presidential, mission-ready aircraft by 2024. "The contract sets the total price for the two completed 'Air Force One' replacement aircraft at $3.9B, saving the taxpayers over $1.4B from the initially proposed $5.3B cost-plus contract. President Donald J. Trump has emphasized the need to minimize the cost of replacing the two existing Air Force One aircraft. Yesterday's action meets that objective and reflects the President's commitment to our military and to protecting taxpayer dollars," according to the White House's statement. 5. FOREIGN INVESTMENT: Congress is set to enact the first major changes in a decade to the U.S.'s process for vetting foreign investment, the Wall Street Journal reported on Thursday. Negotiators from the Senate and House reached an agreement on the final words of a provision to bolster both the Committee on Foreign Investment in the U.S. and the U.S. export control system to block Chinese and other foreign transactions that could negatively affect national security, the report says, citing Senate Majority Whip John Cornyn. "It's a done deal," Cornyn said in an interview. The measure, which has been attached to a defense spending bill, could be signed into law as soon as this month, the report noted. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
