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. HARLEY-DAVIDSON: Appearing to reverse course on Harley-Davidson (HOG) on Tuesday, President Trump pledged to retaliate against EU tariffs hurting the company. In a tweet, the President said that, "Harley Davidson has struggled with Tariffs with the EU, currently paying 31%. They've had to move production overseas to try and offset some of that Tariff that they've been hit with which will rise to 66% in June of 2021." @MariaBartiromo So unfair to U.S. We will Reciprocate!" Last year, Trump had called for a boycott against Harley-Davidson amid a spat over steel, when the motorcycle company announced plans to move production to overseas facilities from the U.S. to avoid EU tariffs imposed in retaliation against Trump’s duties on aluminum and steel imports.
2. EUROPEAN STEEL, ALUMINUM TARIFFS: Almost a year after the White House imposed tariffs on European steel and aluminum, the actual damage to European exports has been surprisingly mild, The New York Times’ Jack Ewing reports, citing a study by the European Central Bank released on Wednesday. That is because the White House imposed a broader array of tariffs on Chinese products, making competing European goods less expensive by comparison and allowing them to gain market share, the report notes.
3. U.S.-CHINA TRADE TALKS: President Trump said ongoing trade talks between the U.S. and China were going well, according to a report by Reuters on Wednesday. The next round of talks is slated to begin on April 30 in Beijing, followed by additional discussions starting May 8 in Washington.
4. TWITTER: In a meeting with Twitter's (TWTR) CEO Jack Dorsey, President Trump complained that the microblogging platform had removed some of his followers, according to a report by The Washington Post's Tony Romm. The executive stressed that even he lost followers from new Twitter policies, the publication noted. Prior to the reports on the face-to-face between Dorsey and Trump, the president had tweeted that Twitter does not "treat him well," claiming that the service is "Very discriminatory, hard for people to sign on. Constantly taking people off list. Big complaints from many people."
"Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
Harley-Davidson
+0.6 (+1.64%)
+0.19 (+0.49%)
SPDR S&P 500 ETF Trust
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