Trump Trade: China’s tariffs on U.S. could impact oil exports

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: China’s retaliatory tariffs on the U.S. may cause oil exports to decline in 2025, Arathy Somasekhar of Reuters reports. While China’s purchasing of oil has diminished in recent years, exports were 166,000 barrels per day in 2024, accounting for nearly 5% of all of U.S. crude exports. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).

TRUTH.FI: Trump Media and Technology (DJT) announced that the company has applied to register trademarks for brand names connected to the launch of its customized exchange-traded funds and customized separately managed accounts beginning this year. The trademarks comprise the following: Truth.Fi Made in America ETF; Truth.Fi Made in America SMA; Truth.Fi U.S. Energy Independence ETF; Truth.Fi U.S. Energy Independence SMA; Truth.Fi Bitcoin Plus ETF; Truth.Fi Bitcoin Plus SMA. The investment vehicles will be components of the new Truth.Fi brand covering financial services and financial technology. The launch of Truth.Fi is part of TMTG’s financial services and FinTech strategy that includes the investment of up to $250 million to be custodied by Charles Schwab, which will partner with TMTG to develop the SMAs. Additionally, the company has signed a services agreement and a licensing agreement with an affiliate of Yorkville Advisors. Subject to necessary approvals, Yorkville will act as the Registered Investment Advisor for the new financial vehicles, playing a lead role in constructing the products and shepherding them through the regulatory process.

LESS GOVERNMENT WORK: Maxim downgraded Tetra Tech (TTEK) to Hold from Buy without a price target based on its outlook for less U.S. federal government work for the company under the current administration. Maxim reduced estimates below consensus, noting the U.S. federal government accounted for 32.2% of Tetra Tech’s fiscal 2024 revenue, up from 30.7% in 2023. Tetra’s U.S. Agency of International Development, or USAID, revenue, including energy security and resilience work in Ukraine, accounted for 13% of revenue in fiscal 2024, up from 12.2% in 2023, the firm tells investors in a research note. Maxim cites a smaller opportunity set for U.S. federal government contracts for the downgrade.