August 11, 20018 Week In Review: How Trump's Policies Moved Stocks

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 Trump and his administration with this weekly recap compiled by The Fly:

1. CHINA TARIFFS: The Trump administration finished plans to implement new tariffs on $16B of Chinese imports to punish Beijing for its trading practices, bringing the total value of products covered by the levies to $50B by the end of the month, the U.S. Trade Representative's office announced. The office made slight adjustments to an original list of products it was considering, removing five items and leaving 279 products, mainly chemicals and electronic parts still subject to the tax and China has already announced plans to retaliate with tariffs of an equivalent amount on U.S. goods.

2. APPLE COULD BE 'BARGAINING CHIP': Apple (AAPL), which has leveraged cheap labor and a good supply chain in China, could be used as a "bargaining chip" in the U.S.-China trade war, according to CNBC, citing an article in the state-backed People's Daily in China. Apple made $9.6B in China in this past quarter, but could be the mark of "nationalist sentiment" if the trade war hits Chinese companies hard.

3. IRAN SANCTIONS: On Thursday, President Trump tweeted, "The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level. Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less!" Amid renewed U.S. sanctions, Daimler (DDAIF) has discarded its plans to expand its Iran business, according to Reuters, citing a company statement. Daimler said its actions in Iran were already restricted before ceasing them in accordance to sanctions. In 2016, Daimler established a joint venture in Iran to make and sell Mercedes-Benz trucks and also had plans to open a representative office in Teheran.

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