Trump Strengthens Tariffs on Steel, Aluminum, and Copper Imports
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.TARIFFS:At the end of last week, President Trump signed a proclamation to strengthen tariffs imposed on imported steel, aluminum, and copper in order to more effectively address the national-security threat posed by such imports. The proclamation "defines the way that tariffs are assessed, ensuring that they reflect the full value of imported steel, aluminum, and copper products-not an artificially low foreign price." The proclamation also establishes clear rules for calculating Section 232 metals tariffs. Articles made entirely or almost entirely of aluminum, steel, or copper will pay a flat 50% on their full value - for example, steel coils and aluminum sheet. Derivative articles substantially made of steel, aluminum, or copper will pay a flat 25% on their full value. Publicly traded companies in the steel space include ArcelorMittal, Cleveland-Cliffs, Nucor, Steel Dynamicsand U.S. Steel. Publicly traded companies in the aluminum space include Alcoa, Kaiser Aluminum, and Century Aluminum. Publicly traded companies in the copper space include Freeport McMoRan.PATENTED PHARMACEUTICAL PRODUCTS:Also late last week, President Donald Trump imposed tariffs on patented pharmaceuticals and their ingredients under Section 232 of the Trade Expansion Act of 1962 to "bolster American national security and public health," the White House. "President Trump imposed a 100% tariff on patented pharmaceutical products and ingredients. The tariffs will come into effect in 120 days for certain large companies, and 180 days for smaller companies. If a pharmaceutical product is from the European Union, Japan, Korea, or Switzerland and Liechtenstein, a 15% tariff will apply. If a pharmaceutical product is from the United Kingdom, a lower tariff will apply, subject to the recently concluded UK pharmaceutical agreement," the White House stated in a fact sheet. Publicly traded large-cap pharmaceutical companies include AstraZeneca, Bristol Myers, Eli Lilly, GSK, Johnson & Johnson, Merck, Novartis, Pfizer, Rocheand Sanofi.DRUG PLAN:A new analysis suggests President Donald Trump's proposal to expand Medicare coverage for weight-loss GLP-1 drugs could cost health insurers billions in the first year, Bloomberg's Rachel Cohrs Zhang. While the administration argues negotiated lower drug prices would offset the expense and avoid burdening taxpayers, the findings raise concerns about the near-term financial impact of broadening access, the report says. Publicly traded companies in the insurer space include CVS Health, Centene, Cigna, Elevance Health, Humana, Molina Healthcareand UnitedHealth, while public companies making GLP-1 drugs include Novo Nordiskand Eli Lilly.IRAN WAR:President Trumpon social media, "The biggest bridge in Iran comes tumbling down, never to be used again - Much more to follow! IT IS TIME FOR IRAN TO MAKE A DEAL BEFORE IT IS TOO LATE, AND THERE IS NOTHING LEFT OF WHAT STILLCOULD BECOME A GREAT COUNTRY!"
