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Trump Announces Canada Auto Tariffs to Increase to 50%

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 with this daily recap compiled by The Fly.TARIFFS:President Donald Trumpin a post to Truth Social, "Canada has been ripping off the United States of America for years. Their ridiculously high tariffs on our Farmers and farm products has made life impossible for these great American Patriots, and has long created a 60 Billion Dollar Deficit between our two Countries. Not sustainable, and NOT ANYMORE! On January First, 2027, Tariffs on all Cars, Trucks, both large and small, Automotive Parts, and Steel, will be increased to 50%. Build in the U.S. and there are ZERO TARIFFS. Canada will be treated like a State no longer! On Trade, and in other ways, also, they are among the worst Nations in the World to deal with. They feel entitled, and yet, WE DON'T NEED CANADA, THEY NEED US! They do 95% of their business with the U.S., with us, the exact opposite! Thank you for your attention to this matter!" Publicly traded automakers include Ford, General Motors, Honda, Lucid Group, Mercedes-Benz, Nissan, Rivian, Stellantis, Tesla, Toyotaand Volkswagen.SETTLEMENT:When the Justice Department was preparing a legal battle more than a decade in the making against Live Nation, President Trump called and told a senior official to settle the matter, Rebecca Ballhaus, Joe Palazzolo, Dana Mattioli, Josh Dawsey, and Dave Michaels of The Wall Street Journal. The antitrust trial against Live Nation was two days away when Trump made the call, and DOJ officials and Live Nation had spent months exchanging settlement proposals but had little to show for it. White House involvement in law-enforcement matters is a regular event during Trump's second term, but many regard this political interference to be extreme.LOW-COST INTERCEPTORS:Powerusis expanding UAE production of its low-cost Guardian drone interceptor as the Iran war highlights the cost and logistical strain of using expensive U.S. air defenses against mass drone attacks, with production targeted to reach 15,000 units monthly by mid-2027, The New York Times' Farah Stockman and Ismaeel Naar. Powerus is seeking to manufacture its systems closer to the countries that need them rather than relying entirely on production inside the U.S., according to the report.KEYSTONE XL:President Donald Trump has suggested reviving the Keystone XL oil pipeline may happen when he said the U.S. was close to reaching a trade deal with Canada to avoid tariffs, Ryan Dezember of The Wall Street Journal. Pipeline developers, however, have already pieced together an alternative to the Keystone expansion. This alternative would serve the same function as the Keystone XL pipeline, but without the name. The alternative pipeline even intends to use portions of the stalled Keystone project and may face similar opposition. Companies in the space include TC Energyand ConocoPhillips.

Trump Lowers Auto Tariffs to 15%

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 with this daily recap compiled by The Fly.CAR TARIFFS:The White House is slated to cut tariffs on automobiles imported from Canada to 15% from 25% as part of a larger agreement that would see Canada drop retaliatory trade measures, Bloomberg's Josh Wingrove, David Welch, and Gabrielle Coppola report, citing people familiar with the matter. Last year, the Trump administration slapped a 25% tariff on foreign-made cars and trucks, with the tax on vehicles made in Canada and Mexico only applicable to a vehicle's non-U.S. content, the authors note. Publicly traded companies in the space include Ford, General Motors, Honda, Lucid Group, Mercedes-Benz, Nissan, Rivian, Stellantis, Tesla, Toyotaand Volkswagen.CLARITY ACT:President Donald Trump asked Congress to pass the Clarity Act, arguing the legislation is a top priority for the industry and is critical to keeping the U.S.'s edge in emerging technologies, Courtney Subramanian and Tyler Kendall of Bloomberg. "We need Congress to take the next step by passing the Clarity Act, a fair version of the Clarity Act," Trump said. "It's a very, very powerful structured legislation which will keep us ahead of China, keep us ahead of everyone else." Companies with executives at the event include Coinbase, Gemini Space Station, Payward, and Robinhood.HYPERLIQUID:U.S. President Donald Trump hinted at the possibility of regulating Hyperliquid, the decentralized exchange owned by Hyperliquid Strategiesthat has gained popularity among traders as a hub for so-called "perpetual futures" trading, or swap-like derivatives with high leverage and no expiration, CNBC's Oliver Renick. "I understand that is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump said in a press conference. Shares of Hyperliquid jumped over 30% before the close following the president's comments, while shares of other exchanges include Cboe Global Markets, Miami International, and CME Groupslid. Meanwhile, cryptocurrencies Litecoin, Bitcoin, and Ethereumall gained during the session after the news.HORMUZ SHIPPING CORRIDOR:The U.S. military has established a shipping corridor in and out of the Strait of Hormuz to transport about 10 million barrels of oil a day, two U.S. officials told Axios,Barak Ravid. The operation has been underway for the last several weeks and has brought 15 to 20 tankers in and out of the strait through a southern channel along the coast of Oman, Ravid notes. Publicly traded companies in the oil space include BP, Chevron, ConocoPhillips, Exxon Mobil, Shelland TotalEnergies.