U.S. and China sign "Phase 1" trade deal after Trump said to threaten European vehicle tariffs

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. PHASE 1 DEAL SIGNED: Earlier this week the U.S. and China signed an initial trade agreement that will roll back certain tariffs and increase Chinese purchases of U.S. goods and services. The two sides have portrayed their "Phase 1" pact as a momentous step after months of discussions punctuated by tit-for-tat tariffs, Reuters said. "Together we are righting the wrongs of the past and delivering a future of economic justice and security for American workers, farmers and families," President Trump said in announcing the deal.

At the signing event related to the deal, President Trump said that he has no doubt David Calhoun, Boeing's (BA) new CEO, will be able to turn the company around as it deals with the fallout from the two fatal crashes of its 737 MAX plane. Trump added that Boeing must move quickly to address the safety concerns over the grounded aircraft.

Meanwhile, Boeing's Calhoun said in a statement following the trade deal announcement: "Boeing has a long-standing partnership with China that spans nearly 50 years. We're proud that Boeing airplanes will continue to be a part of this valued relationship, one that has fueled aerospace innovation and sustained manufacturing jobs. Boeing applauds Presidents Trump and Xi as well as Vice Premier Liu, Secretary Mnuchin and Ambassador Lighthizer for their leadership in building a fair and mutually-beneficial trading relationship between the United States and China."

2. TARIFFS ON EUROPEAN VEHICLES: The Trump administration secretly threatened to impose a 25% tariff on European vehicles if Germany, France and Britain refused to call out Iran and begin a dispute mechanism over the country's nuclear deal, The Washington Post's John Hudson and Souad Mekhennet reported, citing European officials familiar with the conversations. The threat came a week before the countries would formally accuse Iran of violating the deal which led to a recourse provision that could reimplement UN sanctions on Iran. Publicly traded European automakers include Daimler AG (DDAIF), Fiat Chrysler (FCAU) and Volkswagen (VWAGY).

3. FIRST SOLAR PROJECT APPROVED: The Bureau of Land Management on Wednesday gave approval for a large-scale solar plant in California. The 450-megawatt project is being developed by First Solar (FSLR) subsidiary Desert Quartzite in eastern Riverside County and is expected to be in operation by 2022.

4. APPLE SHOULD "STEP UP": On Tuesday, President Trump tweeted that, "We are helping Apple [AAPL] all of the time on TRADE and so many other issues, and yet they refuse to unlock phones used by killers, drug dealers and other violent criminal elements. They will have to step up to the plate and help our great Country, NOW! MAKE AMERICA GREAT AGAIN." The tweet follows a request by Attorney General William Barr to unlock two iPhones used by the gunman responsible for a deadly shooting last month at a naval air station in Pensacola, Florida, according to the New York Times. The Times noted that Apple has given investigators materials from the gunman's iCloud account, but has refused to help the FBI open the phones.

5. POLY PURCHASING NEGATIVE FOR DAQO: In a research note to investors on Wednesday, Roth Capital analyst Philip Shen noted that with the "Phase 1" U.S.-China trade deal, U.S. negotiators have secured Chinese commitment to purchase polysilicon produced by U.S. manufacturers. Since 2014, the U.S. has been blocked from shipping polysilicon into China. The analyst believes this is an incremental negative to poly pricing. Consequently, Daqo New Energy (DQ), with its recent run-up, could see some near-term weakness, he contended. Shen maintained his Buy and $55 price target on Daqo New Energy's shares given the company's industry leading cost structure and high quality.