Week In Review: How Trump's Policies Moved Stocks - Sunday, Feb. 9

China to reduce tariffs on $75B worth of American-made goods

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. CHINA TO REDUCE TARIFFS: On Thursday, China said it would reduce tariffs on $75B worth of American-made goods, CNBC's Weizhen Tan and Evelyn Cheng reported. Retaliatory duties on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China's Ministry of Finance. The adjustments will take effect from 1:01 p.m on February 14, it said. The statement said the move was made in order to "advance the healthy and stable development of China-U.S. trade."

2. TRUMP 'APOPLECTIC' WITH UK'S JOHNSON OVER HUAWEI: President Trump vented "apoplectic" fury at Boris Johnson in a tense phone call over Britain's decision to allow Huawei a role in its 5G mobile phone networks, Financial Times' Sebastian Payne and Katrina Manson wrote, citing officials in London and Washington. The British Prime Minister spoke to the U.S. President after announcing his decision to allow the Chinese manufacturer to participate in the U.K.'s next-generation cellular network, the report notes.

Late last month, Huawei said it was still open to using Google (GOOG; GOOGL) services after being barred from including such services on devices last year, the Verge's Chris Welch reported. The statement comes in contrast to comments from Huawei's Fred Wangfei, who told Der Standard that the company does not currently have plans to return to using Google's mobile services even if the U.S. government opts to lift the trade ban that forced the company to come up with its own alternatives, Welch noted. "Our first choice is the open Android ecosystem, including GMS (Google Mobile Services) - that was what helped us become number two in the world for smartphone shipments," a Huawei spokesperson told The Verge by email.

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