Trump Trade: Trump ‘couldn’t care less’ if carmakers raise prices

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:

AUTO PRICE RAISES: In an interview with NBC News on Saturday, President Donald Trump said he “couldn’t care less” if automakers raised prices on their vehicles after announcing he would implement 25% tariffs on all foreign-made cars, NBC’s Kristen Welker and Alexandra Marquez report. When asked if he had warned auto industry CEOs against raising prices, he said, “No, I never said that. I couldn’t care less if they raise prices, because people are going to start buying American-made cars. I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty.” Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY). 

SNAP BENEFITS: U.S. Health and Human Services Secretary Robert F. Kennedy Jr. said that the White House will start letting stats block recipients of federal food assistance from using SNAP, or Supplemental Nutrition Assistance Program, funds to purchase soft drinks, the New York Times’ Sheryl Gay Stolberg reports. Kennedy announced the update in Martinsburg, West Virginia, where he appeared with Governor Patrick Morrisey, who recently signed a bill making the state the first to ban foods containing most artificial food dyes and two preservatives, the author notes. The Trump appointee is speaking with 15 other governors about similar actions, the author says. Publicly traded companies in the soft drink space include Coca-Cola (KO), PepsiCo (PEP), Keurig Dr Pepper (KDP), Monster Beverage (MNST), Celsius (CELH), and National Beverage (FIZZ). 

TRUMP MEDIA TO JOIN NYSE TEXAS: The New York Stock Exchange, part of Intercontinental Exchange (ICE), announced that NYSE Texas is officially open for business, becoming the first securities exchange to operate in Texas, with Trump Media & Technology Group as the first new company to join the NYSE community through a listing on NYSE Texas. Trump Media and Technology Group will continue its existing primary listing and be dually listed on NYSE Texas under the symbol (DJT).

FULL PARDON: Nikola (NKLA) founder Trevor Milton announced via Instagram that President Trump issued him a full and unconditional pardon. Milton faced charges of securities fraud.