Trump Trade: U.S. agrees to extension to July 9 for 50% tariff on EU

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 ON EU: President Donald Trump stated in a post to Truth Social, “I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension – July 9, 2025 – It was my privilege to do so. The Commission President said that talks will begin rapidly. Thank you for your attention to this matter!”

Further, he also stated on Truth Social that, “I was extremely satisfied with the 50% Tariff allotment on the European Union, especially since they were ‘slow walking (to put it mildly!), our negotiations with them. Remember, I am empowered to ‘SET A DEAL’ for Trade into the United States if we are unable to make a deal, or are treated unfairly. I have just been informed that the E.U. has called to quickly establish meeting dates. This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America. They will BOTH be very happy, and successful, if they do!!!”

NUCLEAR ORDER SIGNING: President Donald Trump signed orders meant to accelerate the construction of nuclear power plants, including small, newer reactor types. “We’re signing tremendous executive orders today that really will make us the real power in this industry,” Trump said as he signed the directives in the Oval Office, adding that nuclear technology “has come a long way, both in safety and costs.” Trump was joined by Interior Secretary Doug Burgum, Defense Secretary Pete Hegseth and energy industry executives including Constellation Energy (CEG) CEO Joseph Dominguez and Jake DeWitte, the co-founder and CEO of Oklo (OKLO). Other publicly traded companies in the nuclear energy space include Nuscale Power (SMR), Nano Nuclear Energy (NNE), BWX Technologies (BWXT), Centrus Energy (LEU) and Cameco (CCJ).

FEDERAL FUNDING: President Donald J. Trump stated in a post to Truth Social, “California, under the leadership of Radical Left Democrat Gavin Newscum, continues to ILLEGALLY allow ‘MEN TO PLAY IN WOMEN’S SPORTS.’ This week a transitioned Male athlete, at a major event, won ‘everything,’ and is now qualified to compete in the ‘State Finals’ next weekend. As a Male, he was a less than average competitor. As a Female, this transitioned person is practically unbeatable. THIS IS NOT FAIR, AND TOTALLY DEMEANING TO WOMEN AND GIRLS. Please be hereby advised that large scale Federal Funding will be held back, maybe permanently, if the Executive Order on this subject matter is not adhered to. The Governor, himself, said it is ‘UNFAIR.’ I will speak to him today to find out which way he wants to go??? In the meantime I am ordering local authorities, if necessary, to not allow the transitioned person to compete in the State Finals. This is a totally ridiculous situation!!!”

NIPPON STEEL, U.S. STEEL DEAL: President Donald Trump has approved Nippon Steel’s (NPSCY) bid to acquire U.S. Steel (X). U.S. Steel said in a statement, “President Trump is a bold leader and businessman who knows how to get the best deal for America, American workers and American manufacturing. U. S. Steel will remain American, and we will grow bigger and stronger through a partnership with Nippon Steel that brings massive investment, new technologies and thousands of jobs over the next four years. U. S. Steel greatly appreciates President Trump’s leadership and personal attention to the futures of thousands of steelworkers and our iconic company.”

MINIMAL UPKEEP: The Trump administration is preparing to issue a narrowly tailored license to Chevron (CVX), allowing the company to conduct minimal maintenance of essential operations in Venezuela, Bloomberg reports, citing people familiar with the matter. The Treasury Department plans to grant the waiver allowing the company to carry out only critical upkeep and safety-related functions, the people added.