Week In Review: How Trump's Policies Moved Stocks - September 21, 2019

Trump to revoke California emissions waiver; has 'nice meeting' with Zuckerberg

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. CALIFORNIA EMISSIONS WAIVER: President Trump said on Wednesday via Twitter that his administration is revoking California's Federal Waiver on emissions "in order to produce far less expensive cars for the consumer, while at the same time making the cars substantially SAFER." The president claimed that the move would lead to more production because of a pricing and safety advantage as well as "the fact that older, highly polluting cars, will be replaced by new, extremely environmentally friendly cars. "There will be very little difference in emissions between the California Standard and the new U.S. Standard, but the cars will be far safer and much less expensive," Trump tweeted. "Many more cars will be produced under the new and uniform standard, meaning significantly more JOBS, JOBS, JOBS! Automakers should seize this opportunity because without this alternative to California, you will be out of business."

After the President's announcement, California Air Resources Board chairman Mary Nichols said that the board is prepared for a fight, Bloomberg's Ryan Beene, Ari Natter, and Jennifer Dlouhy reported. "This is the fight of a lifetime for us. We have to win this and I believe we will," Nichols said during a press conference. The state of California has filed more than 50 lawsuits and other protests over the president's moves, the authors note. Publicly traded automakers include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).

2. FACEBOOK CEO MEETING: Facebook (FB) CEO Mark Zuckerberg spoke with lawmakers on Thursday, marking his first time in Washington since he testified before Congress last year. President Trump said on Thursday night via Twitter he had a "nice meeting with Mark Zuckerberg of @facebook in the Oval Office today," while a Facebook spokesperson said that their meeting was "constructive."

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