Amazon’s Prime Day reportedly being impacted by tariffs and trade war
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 COPPER:
President Donald Trump indicated the U.S. would implement a higher-than-expected 50% tariff on copper imports, which has since spurred a spike in New York futures and a drop in the global benchmark, Katharine Gemmell and Martin Richie of Bloomberg report. The plan marks the latest move in a difficult period for industrial commodities, as the U.S. leader works to push for more mining and smelting at home. Publicly traded companies in the copper sector include Freeport McMoRan (FCX), Southern Copper (SCCO), Rio Tinto (RIO), BHP (BHP), and Glencore (GLNCY).
PRIME DAY:
Amazon’s (AMZN) Prime Day is being affected by President Donald Trump’s trade war, with some brands opting out of the sale and some shoppers planning to pull back due to tariffs, Bloomberg’s Spencer Soper reports. “Prime Day will provide an early indication on consumer appetite, especially in categories like apparel, electronics and TVs, where price drops are expected to be the deepest,” said Vivek Pandya, lead analyst at Adobe, which expects Amazon and other U.S. retailers to generate $23.8B in online sales during the four-day event.
VANTAGE 4.0 SCORE: S
hares of FICO (FICO) were under pressure on Tuesday after FHFA Director William Pulte said via X that, “Effective today, to increase competition to the Credit Score Ecosystem and consistent with President Trump’s landslide mandate to lower costs, Fannie (FNMA) and Freddie (FMCC) will ALLOW lenders to use Vantage 4.0 Score with no current requirement to build new infrastructure (stays Tri Merge).” VantageScore 4.0 is a credit-scoring alternative to FICO’s owned by the credit-reporting companies Equifax (EFX), Experian (EXPGY) and TransUnion (TRU) that launched in 2006.
DELAYED TARIFFS:
President Trump delayed reciprocal tariffs to August 1 after advisers lobbied for more time to cut trade deals with trading partners, The Wall Street Journal’s Brian Schwartz and Gavin Bade report. Trump was frustrated with the lack of progress with countries, blaming them for not offering deals good enough for the U.S., and Trump sent letters as a negotiating tactic to get last-minute concessions. More letters are expected, including one to the EU, according to the report. White House spokesman Kush Desai said the U.S. is receiving heavy interest to lower tariffs, but Trump “has been clear: the United States, the world’s biggest and best consumer market, holds the cards and leverage in negotiations to unilaterally set deals with appropriate tariff rates for our trading partners.”
FED CHAIR CONTENDERS:
Kevin Hassett, a close economic adviser to President Trump, is a serious contender for Federal Reserve chair, The Wall Street Journal’s Brian Schwartz and Nick Timiraos report. Meanwhile, Kevin Warsh, a former Fed governor, is also vying for the position, but he faces concerns from Trump’s allies. Trump is demanding rate cuts from the next Fed chair, and his team is blaming the Fed for high rates.
IRA VISIBILITY:
Jefferies upgraded Sunrun (RUN). With the One Big Beautiful Bill Act behind for now, the firm is upgrading Sunrun with a renewed sense of confidence driven by firmed up IRA providing visibility into outer years. Jefferies had downgraded the stock last month as pending IRA outcome looked tenuous at best, but now with the One Big Beautiful Bill Act signed and favorable to the company, the firm admits it “got it wrong (mea culpa!)” and reverses course. ITC runway through 2027 on solar and beyond 2030 on storage is favorable, adding +$6/share to DevCo valuation. Jefferies acknowledges questions persist as Sunrun pivots to storage and “Trump’s Executive Order earlier this week: Better than our worst cases feared.”
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Originally Posted July 9, 2025 – Trump Trade: U.S. President says will impose 50% tariff on copper
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