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07:49 EDT 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 Donald Trump and his administration with this weekly recap compiled by The Fly: 1. U.S./CHINA TARIFFS: The U.S. and China imposed new tariffs on each other's goods on Monday, after which China accused the U.S. of engaging in "trade bullyism" and said it was intimidating other countries to submit to its will, according to Reuters, citing the official Xinhua news agency. U.S. tariffs on $200B worth of Chinese goods and retaliatory tariffs by Beijing on $60B worth of U.S. products took effect at midday Asian time. For consumers in the U.S., the tariffs could mean higher prices for Chinese products like vacuum cleaners to technology gear, while U.S. goods targeted by Beijing include liquefied natural gas and certain types of aircraft. The Trump administration's latest tariffs of 10% on $200B of imports from China will also apply to graphics cards assembled in China, according to CNBC, citing two industry sources familiar with the matter. AMD (AMD) and Nvidia (NVDA) are the two major gaming graphics card suppliers and Shrout Research's Ryan Shrout told CNBC that the "vast majority" of graphics cards are currently made in China, the report noted. 2. CHINA ELECTION INTERFERENCE CLAIM: The Trump administration is said to be planning a push against China in "a few weeks," citing China's activity in cyberattacks, election interference and industrial warfare, according to Axios. The administration has marshaled tons of data to support its charges against China, the publication added. 3. NAFTA TALKS: U.S. Trade Representative Robert Lighthizer said on Tuesday that Canada is not making concessions needed to reach an agreement with the U.S. for a trilateral NAFTA and is running out of time before the White House moves forward with a Mexico-only deal, according to Reuters. A day later, The Washington Post reported that the President Trump had spurned the opportunity for a one-on-one meeting with Canadian prime minister Justin Trudeau over the tariff dispute. In an appearance at the U.N. General Assembly, Trump also threatened to slap tariffs on autos imported from Canada. Meanwhile, Trudeau has shrugged off U.S. Trump's criticisms that NAFTA negotiations between the two countries were moving too slowly and made it clear that talks must continue as long as there was a chance of success, Reuters reported. 4. INTEREST RATE HIKE: Trump said he was not happy with the Federal Reserve's decision on Wednesday to raise its benchmark interest rate, though he added that the hike was a result of a strong economy, according to Reuters. "We're doing great as a country. Unfortunately, they just raised interest rates because we are doing so well. I'm not happy about that," Trump said in a press conference. "I'd rather pay down debt or do other things, create more jobs. So, I'm worried about the fact that they seem to like raising interest rates." 5. BIOFUEL TRADING: The White House is weighing placing restrictions on the trading of biofuel credits in an effort to discourage speculation and cut costs for oil refiners to comply with U.S. biofuels policy, Reuters reported, citing three people familiar with the matter. The sources told the publication that an official announcement on the matter could occur in coming weeks. Publicly traded companies in the refining space include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
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