Trump Trade: Trump administration moves to end pharma trade probe

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.

U.S. PHARMA TRADE PROBE: The Department of Commerce appears to have concluded its Section 232 investigation into pharmaceutical imports, according to a new document reviewed by Endpoints News, Anna Brown reports. 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).

FED PROBE: President Donald Trump has dismissed JPMorgan (JPM) CEO Jamie Dimon’s criticism over the Justice Department probe into the Federal Reserve, Fed, Catherine Lucey of Bloomberg reports. Trump said Dimon was “wrong” to suggest he was undermining the independence of the central bank. “I think it’s fine what I’m doing,” Trump said. “And we have a bad Fed person.”

CHIP EXPORT REVIEW: Under new licensing requirements, the exports of Nvidia’s (NVDA) H200 chips and AMD‘s (AMD) MI325X chips will be reviewed on a case-by-case basis, Bloomberg’s Maggie Eastland and Ian King report. The Commerce Department’s licensing requirements will include certifying no shortage of processors in the U.S., and companies seeking export approval must meet certain stipulations, including limiting chip shipments to China to no more than 50% of total products made for the U.S. market and employing “rigorous Know Your Customer” procedures, according to the report.

WIND FARM PROJECTS: Rasmus Errboe, CEO of Danish wind farm developer Orsted (DNNGY), said the company will move rapidly to finish a $6.2B wind farm off Rhode Island, a day after a judged denied President Trump’s push to stop the project, the Wall Street Journal’s Stanley Reed reports, citing Errboe. The company has seven turbines left to install on the ‘Revolution Wind’ project and expects the farm to start generating some electric power “within weeks”, according to the CEO.