Global trade proves stronger than Trump's tariff war
Published . Updated .
Key takeaways
- In the nearly two years since he returned to the White House, US President Donald Trump has picked up where he left off in his first term, shredding the open multilateral trading system that has served the world so well since the end of World War II.
- Exposed: ITA, XAR, XLI, CAT, DE
- Market reaction: price tracking starts with the next trading session.
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In the nearly two years since he returned to the White House, US President Donald Trump has picked up where he left off in his first term, shredding the open multilateral trading system that has served the world so well since the end of World War II.
Directly affected
- No company is named in this report.
Indirectly affected
- ITA iShares U.S. Aerospace & Defense ETF+1.1% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- XAR SPDR S&P Aerospace & Defense ETF-4.4% 30d
SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- XLI Industrial Select Sector SPDR-0.3% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- CAT Caterpillar-23.2% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- DE Deere-2.9% 30d
Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- WMT Walmart+12.9% 30d
Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- NKE Nike+6.7% 30d
Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| ITA | +0.77% | +0.89% | base | after close | after close | after close | after close |
| XAR | +4.35% | +2.37% | base | after close | after close | after close | after close |
| XLI | +0.40% | +0.18% | base | after close | after close | after close | after close |
| CAT | +9.45% | +3.80% | base | after close | after close | after close | after close |
| DE | -2.37% | -1.28% | base | after close | after close | after close | after close |
| WMT | -6.18% | -1.18% | base | after close | after close | after close | after close |
| NKE | -5.11% | -3.36% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Global trade proves stronger than Trump's tariff war Bangkok Post
Source: Bangkok Post
IShares U.S. Aerospace & Defense ETF (ITA) since this story, compared with the market
| Company | When | Move | Status |
|---|---|---|---|
| Caterpillar (CAT) | three days earlier | +3.80% | final price |
| Caterpillar (CAT) | five days earlier | +9.45% | final price |
| Deere (DE) | three days earlier | -1.28% | final price |
| Deere (DE) | five days earlier | -2.37% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | three days earlier | +0.89% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | five days earlier | +0.77% | final price |
| Nike (NKE) | three days earlier | -3.36% | final price |
| Nike (NKE) | five days earlier | -5.11% | final price |
| Walmart (WMT) | three days earlier | -1.18% | final price |
| Walmart (WMT) | five days earlier | -6.18% | final price |
| Spdr Series Trust (XAR) | three days earlier | +2.37% | final price |
| Spdr Series Trust (XAR) | five days earlier | +4.35% | final price |
| Select Sector Spdr Tr (XLI) | three days earlier | +0.18% | final price |
| Select Sector Spdr Tr (XLI) | five days earlier | +0.40% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 37 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Jonathan Jackson sold Walmart (WMT) (jointly held), worth $50,001 - $100,000 on 28 Sep 2026. That is 37 days before publication. Filed 19 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 40 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Nike (NKE), worth $15,001 - $50,000 on 28 Aug 2026. That is 68 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Gilbert Cisneros sold Nike (NKE), worth $15,001 - $50,000 on 27 Aug 2026. That is 69 days before publication. Filed 10 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, sold Nike (NKE), worth $100,001 - $250,000 on 21 Aug 2026. That is 75 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who collects and who pays in defense
Companies tied to this story
- ITA IShares U.S. Aerospace & Defense ETF
IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Global trade proves stronger than Trump's tariff war.” Reason on file: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
- XAR Spdr Series Trust
For “Global trade proves stronger than Trump's tariff war,” Spdr Series Trust (XAR) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
- XLI Select Sector Spdr Tr
In “Global trade proves stronger than Trump's tariff war,” Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence. Reason on file: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- CAT Caterpillar
For “Global trade proves stronger than Trump's tariff war,” Caterpillar (CAT) is linked, with no stored direction, medium confidence. Reason on file: Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- DE Deere
Deere (DE) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Global trade proves stronger than Trump's tariff war.” Reason on file: Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- WMT Walmart
In “Global trade proves stronger than Trump's tariff war,” Walmart (WMT) is linked, with no stored direction, medium confidence. Reason on file: Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- NKE Nike
In “Global trade proves stronger than Trump's tariff war,” Nike (NKE) is linked, with no stored direction, medium confidence. Reason on file: Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
IShares U.S. Aerospace & Defense ETF (ITA) and the defense link
The 4 Nov 2026 story “Global trade proves stronger than Trump's tariff war” names IShares U.S. Aerospace & Defense ETF (ITA) because of Defense.
The link for IShares U.S. Aerospace & Defense ETF (ITA) is this: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
Spdr Series Trust (XAR) is here too. Its reason reads: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
Dates in the story, and the IShares U.S. Aerospace & Defense ETF (ITA) price range
ITA traded between 197.59 and 218.73 across 20 sessions. The latest close on file is 216.38. XAR traded between 210.89 and 237.55 across 20 sessions. The latest close on file is 231.04. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 169.73.
The defense score for IShares U.S. Aerospace & Defense ETF (ITA)
46 out of 100
“Global trade proves stronger than Trump's tariff war” scores 46 out of 100. The score uses 1 sources, and 7 linked companies.