Trump Trade: U.S. not pulling assets from Strait of Hormuz yet

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.

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STRAIT OF HORMUZ: CBS News Senior White House Correspondent Weijia Jiang posted on X, “I called President Trump for some clarity on this post. He says the U.S. is not pulling assets in and around the Strait of Hormuz yet: ‘At some point I will, not quite yet, but countries have to come in and take care of it. Iran has been decimated, but they’re going to have to come in and do their own work.'”

President Trump has expressed to his aides that he is prepared to complete the U.S. military campaign against Iran even if the Strait of Hormuz remains closed, The Wall Street Journal’s Alexander Ward and Meridith McGraw report. Trump and his advisors have concluded that efforts to open the chokepoint would extend the conflict beyond his timeline of four to six weeks, and the president has decided that the U.S. should achieve its main goals of crippling Iran’s navy and its missile stocks while pressuring Tehran diplomatically to resume the free flow of trade, the report states.

DELAYED DRUG LAUNCH: Drugmakers have delayed the launches of some medicines in Europe as the industry deals with U.S. pressure and pricing shifts from President Donald Trump, Maggie Fick, Bhanvi Satija and Dominique Patton of Reuters report, citing executives, pricing policy shifts, and data shared with the journal. The White House has been pushing for lower prescription drug costs, with Trump looking to tie the cost for Americans to what is paid elsewhere. This has led drugmakers to pause bringing some medicines to European markets to avoid pulling down prices in the U.S. market. 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).