Trump Trade: Generics to be excluded from pharma tariff plan

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:

PHARMA TARIFF PLAN: The Trump administration isn’t planning to impose tariffs on generic drugs, narrowing the scope of pharmaceutical levies, The Wall Street Journal’s Gavin Bade reports. The decision reverses a campaign pledge and follows internal debate regarding potential price increases or drug shortages from tariffs. “The administration is not actively discussing imposing Section 232 tariffs against generic pharmaceuticals,” White House spokesman Kush Desai said in a statement. Publicly traded companies in the space include AstraZeneca (AZN), Bristol Myers (BMY), Eli Lilly (LLY), GSK (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).

RARE EARTH EXPORTS: China tightened its rare earth export controls on Thursday, saying it planned to limit exports to overseas defense firms and semiconductor users and adding five rare earth elements to its list, Reuters reports. The world’s largest rare earth producer also added dozens of pieces of refining technology to its control list and announced rules that will require compliance from foreign rare earth producers who use Chinese materials. The new curbs come weeks ahead of a scheduled face-to-face meeting between U.S. President Donald Trump and Chinese President Xi Jinping in South Korea, the publication adds.

PEACE PLAN: President Donald Trump stated in a Truth Social post: “I am very proud to announce that Israel and Hamas have both signed off on the first Phase of our Peace Plan. This means that ALL of the Hostages will be released very soon, and Israel will withdraw their Troops to an agreed upon line as the first steps toward a Strong, Durable, and Everlasting Peace. All Parties will be treated fairly! This is a GREAT Day for the Arab and Muslim World, Israel, all surrounding Nations, and the United States of America, and we thank the mediators from Qatar, Egypt, and Turkey, who worked with us to make this Historic and Unprecedented Event happen.”