Trump Trade: U.S. to impose tariffs on semis from companies ‘not coming in’

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 SEMIS: President Donal Trump’s administration will impose tariffs on semiconductor imports from companies that have not shifted production to the U.S., Jeff Mason and Kanishka Singh of Reuters report. “Yeah, I have discussed it with the people here. Chips and semiconductors – we will be putting tariffs on companies that aren’t coming in. We will be putting a tariff very shortly,” Trump told reporters. “We will be putting a very substantial tariff, not that high, but fairly substantial tariff with the understanding that if they come into the country, if they are coming in, building, planning to come in, there will not be a tariff.” Publicly traded companies in the space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN).

SELF-DRIVING CARS: The Trump administration is planning to make it easier for automakers to deploy self-driving cars by removing requirements designed for human drivers, Keith Laing of Bloomberg reports. The U.S. Department of Transportation is planning to propose three new rules in spring 2026 “to modernize Federal Motor Vehicle Safety Standards for vehicles with automated driving systems.” These rules intend to relax mandates for vehicles without manual controls and don’t use gear shift sticks, defrosting buttons, or certain lighting equipment. Companies in the space include Tesla (TSLA), Google (GOOGL), Amazon (AMZN), Uber (UBER), and General Motors (GM).

HIV PREVENTION DRUG: The Trump administration will work with Gilead Sciences (GILD) and The Global Fund to Fight AIDS, Tuberculosis and Malaria to provide an HIV prevention drug to up to 2 million people in low- and middle-income countries, STAT’s Ed Silverman and Jason Mast report. While the effort was first announced in 2024, the administration began to drastically cut foreign aid.

WHITE HOUSE DINNER: President Trump met with tech CEOs in a version of his cabinet meetings, in which each participant praised his efforts to promote investments in chip manufacturing and AI, Katherine Blunt, Meridith McGraw, and Meghan Bobrowsky of The Wall Street Journal report. Tech leaders including Apple (AAPL) CEO Tim Cook and Microsoft-backed (MSFT) OpenAI CEO Sam Altman thanked the president. Google (GOOGL) CEO Sundar Pichai and IBM (IBM) CEO Arvind Krishan were at the White House earlier in the day. Also, companies such as Microsoft, Nvidia (NVDA), IBM, Amazon (AMZN), Google, and OpenAI announced education commitments.