Trump Trade: Trump Administration pursuing deals in range of industries

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:

DEALS: Pharmaceutical executives are getting almost daily calls from White House Staff and senior figures at agencies such as the Commerce Department, Dawn Kopecki, Jarrett Renshaw, Ernest Scheyder and Sabrina Valle of Reuters report, citing two sources familiar with the matter. During these calls, the White House asked Eli Lilly (LLY) to produce more insulin, Pfizer (PFE) to sell more of its cancer drug Ibrance and cholesterol drug Lipitor, and AstraZeneca (AZN) to consider a new headquarters in the U.S., the two sources added. Additionally, the Trump administration is pursuing deals in up to 30 industries, with the fast-paced dealmaking meant to deliver political wins for the president before the 2026 midterm elections, the sources added.

INTELLIGENCE: The Trump administration will provide Ukraine the intelligence to help its longer-range weapons strike energy infrastructure inside Russia, The Wall Street Journal reported. The White House has recently approved allowing intelligence agencies and the Pentagon to support Kyiv with the strikes, the report states. This also marks the first time that the Trump administration will aid Ukrainian strikes with long-range missile, WSJ reports.

NEW TARIFFS: William Blair downgraded RH (RH) to Market Perform from Outperform. President Trump announced new tariffs on imported kitchen cabinets, bathroom vanities, and upholstered furniture under Section 232, starting at 25% on October 14 and rising to as much as 50% on January 1 for countries without trade deals, though the U.K., EU, and Japan are excluded, the firm tells investors in a research note. The near-term financial impact is expected to be modest in 2025 as companies build inventory, but the higher rates could create greater challenges by 2026, especially for made-to-order furniture.

FED GOVERNOR: The Supreme Court will allow Lisa Cook to remain in her job as a Fed Governor for now, as the Trump administration’s application for a stay has been “deferred pending oral argument in January 2026.”