Trump Trade: President says Intel CEO ‘must resign, immediately’

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:

CALLS FOR RESIGNATION: President Donald Trump stated in a Truth Social post, “The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem. Thank you for your attention to this problem!”

This comes after U.S. Republican Senator Tom Cotton sent a letter to Intel’s (INTC) board chair Frank Yeary, asking questions about CEO Lip-Bu Tan’s ties to Chinese firms and a criminal case involving his former company Cadence Designs, Max Cherney of Reuters reports. After receiving the letter, Intel spokesperson issued a statement, “Intel and Mr. Tan are deeply committed to the national security of the United States and the integrity of our role in the U.S. defense ecosystem.”

PUTIN MEETING: President Donald Trump disclosed in a call with European leaders that he intends to meet in person with President Vladimir Putin of Russia as soon as next week, and he plans to follow up shortly afterward with a meeting between himself, Putin and President Volodymyr Zelensky of Ukraine, two people familiar with the matter told The New York Times‘ Maggie Haberman and Steven Erlanger.

Meanwhile, President Donald Trump stated in a post to Truth Social, “My Special Envoy, Steve Witkoff, just had a highly productive meeting with Russian President Vladimir Putin. Great progress was made! Afterwards, I updated some of our European Allies. Everyone agrees this War must come to a close, and we will work towards that in the days and weeks to come. Thank you for your attention to this matter!”

ADDITIONAL DUTIES: In an executive order posted by the White House, President Donald Trump stated, “I have received additional information from various senior officials on, among other things, the actions of the Government of the Russian Federation with respect to the situation in Ukraine. After considering this additional information, among other things, I find that the national emergency described in Executive Order 14066 continues and that the actions and policies of the Government of the Russian Federation continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States. To deal with the national emergency described in Executive Order 14066, I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil. In my judgment, imposing tariffs, as described below, in addition to maintaining the other measures taken to address the national emergency described in Executive Order 14066, will more effectively deal with the national emergency described in Executive Order 14066.”

U.S. SEMI TARIFF: According to comments made by South Korean’s, SK, top trade envoy Yeo Han-koo, Samsung Electronics (SSNLF) and SK Hynix (HXSCL) will not be subject to 100% U.S. tariffs on chips, Reuters reports. On Wednesday, President Trump said the U.S. would impose a 100% tariff on semiconductors imported from countries not producing in the U.S. or planning to do so.

FED GOVERNOR: President Trump is being encouraged by advisers to nominate a temporary Federal Reserve governor to fill Adriana Kugler’s seat, who is stepping down on August 8, Annmarie Hordern, Saleha Mohsin and Joshua Green of Bloomberg report, citing people familiar with the discussions. Naming a governor to serve out the term for the seat, which is set to expire in January 2026, would give Trump additional time to interview candidates, sources told Bloomberg. A short-term governor could be somebody who has been previously confirmed by the Senate for a federal job, two people said.

FANNIE, FREDDIE PLANS: U.S. President Donald Trump met with the CEOs of Citigroup (C), Bank of America (BAC), and Goldman Sachs (GS) to discuss plans to take Freddie Mac (FMCC) and Fannie Mae (FNMA) private, Tatiana Bautzer, Saeed Azhar and Pete Schroeder of Reuters report, citing two sources familiar with the matter.