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 CANADIAN GOODS:
The White House is imposing additional 50% tariffs on a number of Canadian goods in response to what the Trump administration calls trade discrimination against multiple U.S. products and industries. President Trump signed three proclamations targeting different sets of Canadian imports with big duties in response three separate areas, namely motor vehicles, alcohol, and dairy, where the U.S. claims it has been treated unfairly. The new tariffs, which have been laid out in multiple proclamations, are slated to take effect on August 19.
ALUMINUM SMELTER INCENTIVE:
The White House announced that President Donald Trump signed a proclamation using his authority under Section 232 of the Trade Expansion Act of 1962 to “address the national security threat posed by imports of aluminum into the United States and drive new investment into the U.S. aluminum industry.” The White House stated, “The Proclamation authorizes and directs the Secretary of Commerce to establish an incentive program for companies that will invest in building, expanding, or refurbishing aluminum smelters in the United States.” Publicly traded companies in the aluminum space include Alcoa (AA), Kaiser Aluminum (KALU), and Century Aluminum (CENX).
CHINESE AI:
Parts of the Trump administration are reigniting efforts to implement de facto bans on foreign open-source models, as Chinese AI models gain momentum, Maria Curi of Axios reports. The move could lock in dominance by OpenAI and Anthropic, Curi writes.
IRAN ATTACK:
Iran’s Islamic Revolutionary Guards have attacked Amazon’s (AMZN) data infrastructure in Bahrain, according to Fars, an IRGC-linked state media account, CNBC’s Kai Nicol-Schwarz and Lim Hui Jie report. The IRGC has “attacked the central data infrastructure of the American company Amazon in Bahrain with several cruise missiles and destroyed it,” Fars says, though CNBC says it was unable to independently verify the information. U.S. Central Command has carried out 10 consecutive nights of strikes on Iran since President Donald Trump declared the ceasefire “over.”
JAPAN’S INVESTMENT:
JPMorgan (JPM) and other U.S. banks may agree to provide some financing under Japan’s $550B U.S. investment pledge, which would help Tokyo deliver commitments it made to U.S. President Trump, Makiko Yamazaki and Tamiyuki Kihara of Reuters report, citing two people familiar with discussions.
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Originally Posted July 21, 2026 – Trump Trade: Trump imposes additional tariffs on some Canadian goods
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