The global trade policies enacted by President Trump have added an unconventional layer of ambiguity to stock market projections, complicating the task of pinpointing companies poised to successfully navigate the turbulent landscape. In the wake of the President’s ‘Liberation Day’ declaration nearly two months ago, he introduced a slew of novel tariff strategies aimed at recalibrating trade agreements with key partners such as China, Europe, and Canada. Since this declaration on April 2nd, key market indices like the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average have each succumbed to sizeable dips, only to make grand recoveries in recent weeks following the announcement of potential trade agreement revisions. Despite the bullish recovery, it seems unwise to consider the markets immune from further disruption, as tariff adjustments can occur abruptly and it remains unclear which firms may gain from these renewed trade accords.
In this article, I’ll provide a brief overview of how tariffs function and spotlight two corporations that may stand to benefit from the ongoing tariff altercation. Essentially, tariffs are a tax that are imposed on goods imported or exported. Typically, tariffs are leveraged as a tool to compel other nations into deliberating over and amending the terms of trade agreements. Furthermore, tariffs can also pressure companies towards increasing domestic production rather than offshoring labor. However, this may sound more idealistic than pragmatic, as economists express concern that domestic investment in manufacturing could escalate operational costs for businesses and potentially lead to increased prices for consumers which can incite inflation.
In periods of inflation or elevated interest rates, consumer behavior may tilt towards delaying investments in home renovations or refraining from real estate acquisitions. This prospect may understandably arouse suspicion amongst investors regarding the potential performance of Home Depot (NYSE: HD); however, the overall picture demands closer scrutiny. Homeowners can attest that some maintenance and renovation projects are simply ineludable. Given the almost duopolistic nature of the home improvement market in the U.S., with Home Depot and competitor Lowe’s commanding the sector, Home Depot still has the capability to accommodate much of the existing demand.
Historically, Home Depot has demonstrated its ability to steadily augment its revenue and operational margins, even amidst economic instability. There have undoubtedly been hiccup periods where Home Depot’s operations receded, yet the firm ultimately succeeded in circumnavigating these drawbacks. The current tariff environment is not expected to deviate from this trend. It’s worth noting that Home Depot obtains over half of its inventory from domestic suppliers, suggesting that it may not be as affected by increasing costs of imported goods as much as smaller rivals or specialist retailers may be.
This fact is made more relevant considering the majority of Home Depot’s merchandise is sourced domestically, thus making it unlikely that the company will need to enact significant price hikes which in turn can squeeze the purchasing power of customers. Moreover, Home Depot has taken strategic steps to bolster its supply chain, all the while prioritizing customer value and satisfaction. Therefore, I envision Home Depot’s business model displaying durability during this era of pronounced tariffs, ensuring that its outlets continue to serve as a vital hub within the generally volatile retail sector.
Another company that could potentially benefit from these global trade shifts is Nucor, a prominent steel producer. Despite uncertainty among investors, as of 2025, Nucor seems poised to capitalize on some favourable prospects. Increased costs for imported steel, particularly from nations like China, would likely translate into a beneficial scenario for Nucor. More so, since Trump’s inauguration in January, numerous companies from a variety of sectors have pledged to escalate domestic manufacturing activities.
One of such promising initiatives is Project Stargate, an ambitious blueprint designed to expand the domestic infrastructure for artificial intelligence. These elements form a potent catalyst for the steel industry, and Nucor appears well equipped to capture a significant chunk of this increased spend. For these reasons, it may be prudent to watch Nucor closely with a view of considering it as a potentially profitable opportunity.