Trump Plans to Support U.S. Coal-Fired Power Plants
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.COAL-FIRED PLANTS:U.S. President Trump is planning to use government funding and Pentagon contracts to sustain U.S. coal-fired power plants as he works to drive domestic reliance, Jennifer Dlouhy of Bloomberg. The initiative is set to be announced Wednesday and will come through an executive order, a White House official told Bloomberg. The president also intends to announce the Energy Department's plan to distribute $176M to six coal plants to help fund upgrades. Companies in the space include Peabody, Alpha MetallurgicalAlliance Resource Partners, and Arch Resources.LICENSING TERMS:Nvidia"must live with" the licensing terms on sales of its second most advanced AI chip to China, Commerce Department Secretary Howard Lutnick said at a hearing, Reuters' David Lawder and Alexandra Alper. "The license terms are very detailed. They've been worked out together with the State Department, and those terms Nvidia must live with," he said. Reuters reported last week that Nvidia has not agreed to proposed conditions for use of its chips in China, including the Know-Your-Customer requirement, which ensures China's military does not access the chips.TRADE SURPLUS:In his post on X, Treasury's Bessentthat, "Thanks to the mutual respect between POTUS and President Xi, the U.S.-China relationship has reached a stable but competitive point. Our goal is fair competition and de-risking, not decoupling. It is clear that China must rebalance, and their persistent $1 trillion trade surplus must be addressed."
