Trump Plans to Reduce Beef Import Tariffs
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 with this daily recap compiled by The Fly.BEEF IMPORTS:The Trump administration is planning to temporarily reduce tariffs on beef imports as soon as Monday, opening the way to import more beef from overseas as part of a broader effort to address record-high beef prices, people familiar with the matter told's Patrick Thomas and Gavin Bade. Publicly traded meat producers include Hormel Foods, JBS, Pilgrim's Prideand Tyson Foods.FDA CHIEF:President Trump has approved a plan to fire Food and Drug Administration Commissioner Marty Makary, Kristin Brown and Ed O'Keefe of CBS News, citing two sources. The timing of his potential termination remains unknown, CBS adds. Similar reports of Makary's firing emerged on Friday. Biotech stocks that could be impacted by the news include Moderna, Sarepta, Xencor, PTC Therapeutics, Biohaven, Edgewise Therapeutics, Design Therapeutics, Ultragenyx, Dyne Therapeutics, Wave Life Sciences, MeiraGTx, uniQure, Regenxbio, Novavaxand Lexeo Therapeutics.FERTILITY BENEFITS:The U.S. departments of Labor, Health and Human Services, and Treasury last night announced a proposed rule that would create a new category of limited excepted benefits to further expand the ability of employers to offer fertility benefits. The agencies stated, "This proposal addresses employers' sparse coverage of fertility-related treatments for the American worker and increases benefit options by easing statutory and regulatory burdens to make IVF and other fertility treatments more affordable. Though most workers of reproductive age receive healthcare coverage through their jobs, the majority do not have robust fertility coverage." The proposed rule would establish a new category of limited excepted benefits. Excepted benefits are generally exempt from the market reforms under the Affordable Care Act and certain other federal health care coverage laws. Stocks with exposure to the fertility space include Progynyand INVO Fertility.VACCINE INQUIRY:Health Secretary Robert F. Kennedy Jr. has said little publicly about vaccines in recent months, at the behest of a White House worried that his unpopular stance will hurt Republicans in November's midterm elections. But he has not abandoned his quest for evidence that they are unsafe, The New York Times' Christina Jewett and Sheryl Gay Stolberg. Working behind the scenes, Kennedy is spearheading an intense push, across health agencies under his purview, for government scientists and federal data contractors to examine his long-held theory that vaccines are helping to fuel an epidemic of chronic disease, according to multiple people familiar with the effort. Publicly traded companies that make vaccines and drugs include Moderna, Pfizer, BioNTech, Novavax, AstraZeneca, Bristol Myers, Eli Lilly, GSK, Johnson & Johnson, Merck, Novartis, Roche, and Sanofi.NEW YORK TIMES:In a post on Truth Social, President Donald Trump, "The Failing New York Times, which is one of the worst newspapers anywhere in the World, and is losing subscribers on an hourly basis, is now at it again. Just like they covered my Landslide 2024 Presidential Election Victory inaccurately, and without shame, constantly making major mistakes and incorrect predictions at every path along the way, they are now trying to justify Obama and Biden's expensively botched attempt at fixing the long broken, unsightly, and unsanitary Reflecting Pool that NOW sits majestically between the Washington Monument and the Lincoln Memorial. They squandered at least 55 Million Dollars haplessly trying, with no chance of success, to get the Reflecting Pool to work. Instead, they made it worse, keeping it closed for years, and ending up with a leaking, smelling, ode to both of their failed Administrations. It was an embarrassment to Washington, D.C., and to our Country, itself. Despite the vast sums of money spent, they never got the pool to work, and cosmetically it was a total mess for all to see. Now, along comes "TRUMP," who is asked by many patriots if I can fix it. The answer is a resounding, YES, and for a "tiny" fraction of the cost! I worked with our now strong Department of the Interior and explained to them that we should view this as a highly sophisticated swimming pool, not the leaking, dilapidated facade, joints and all, of a building. Instead of taking 4 years to build, at a cost, granite pavers and all, of 400 Million Dollars, we could construct a far superior Reflecting Pool for 5 or 6 Million Dollars, and could complete the project in 2 weeks rather than 4 years. What a difference in time and money, and for a far superior end result! This is not just a paint job, like lowlife "reporter," David Fahrenthold, of theso inaccurately and maliciously stated, it is a deeply complicated work of smart and beautiful construction. It won't leak, it will shine, and be the pride of Washington D.C. for decades to come. I saved more than 390 Million Dollars, and 4 years of no "mess," and was, of course, given no credit by the biased New York Times. Also, I didn't give out the contract, "Interior" did, to a contractor I did not know, and have never used before. Thank you for your attention to this matter!"
