Week In Review: How Trump's Policies Moved Stocks - May 12, 2019

U.S.-China trade talks enter new phase following tariff increase

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 TRADE TALKS: On Sunday, President Trump said in a series of tweets that, "For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars […] of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%."

On Wednesday, Trump tweeted: "The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to 'negotiate' with Joe Biden or one of the very weak Democrats, and thereby continue to ripoff the United States (($500 Billion a year)) for years to come....Guess what, that's not going to happen! China has just informed us that they (Vice-Premier) are now coming to the U.S. to make a deal. We'll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers...great for U.S., not good for China!"

Negotiators from China and the U.S. met into the evening on Thursday, but failed to reach an agreement to avert an increase in U.S. tariffs and the promised hike took effect at 12:01 a.m. Friday morning. President Trump subsequently tweeted that "talks with China continue in a very congenial manner - there is absolutely no need to rush." The President added that the process has begun to place additional tariffs, at a 25% rate, on the remaining $325B worth of Chinese imports that so far have not seen duties placed on them. After trade talks with China wrapped up for Friday, Treasury Secretary Steven Mnuchin told reporters, "They were constructive discussions between both parties, that's all we are gonna say."

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