Stocks that would be impacted by an increase in tariffs if Trump wins – Barclays

Barclays analysts screened for exposed stocks to the increase in tariffs proposed that could affect U.S.-China trade.

Former President Donald Trump has proposed tariffs that Barclays analysts argue could cause a 3.2% drag on the S&P 500 (SP500) EPS for 2025, according to a note.

The U.S. sectors affected, and seen as most at risk, include materials (XLB), consumer discretionary (XLY), industrials (XLI), technology (XLK), and healthcare (XLV).

The following list of stocks with exposure to the U.S.-China trade theme were selected “based on a bottom-up approach, using factual input on global supply chain exposure from Barclays industry analysts,” analysts said.

These are the stocks:

• The TJX Companies Inc. (TJX)
• NIKE Inc. (NKE)
• Ross Stores Inc. (ROST)
• Lululemon Athletica Inc. (LULU)
• Diversified Energy Company Plc (OTCQX:DEC)
• Tapestry Inc. (TPR)
• Ralph Lauren Corp. (RL)
• Hasbro Inc. (HAS)
• Tesla Inc. (TSLA)
• Aptiv Plc (APTV)
• General Electric Co. (GE)
• The Boeing Co. (BA)
• TransDigm Group Inc. (TDG)
• RTX Corp. (RTX)
• Textron Inc. (TXT)
• Emerson Electric Co. (EMR)
• Johnson Controls International Plc (JCI)
• HubSpot Inc. (HUBS)
• Stanley Black & Decker Inc. (SWK)
• Allegion Plc (ALLE)
• Xylem Inc. (XYL)
• Snap-on Inc. (SNA)
• Nordson Corp. (NDSN)
• A. O. Smith Corp. (AOS)
• Masco Corp. (MAS)
• Constellation Brands Inc. (STZ)
• Brown-Forman Corp. (BF.B)
• Newell Brands Inc. (NWL)
• DaVita Inc. (DVA)
• Thermo Fisher Scientific Inc. (TMO)
• Danaher Corp. (DHR)
• Aligent Technologies Inc. (A)
• Mettler-Toledo International Inc. (MTD)
• Waters Corp. (WAT)
• Revvity Inc. (RVTY)
• Johnson & Johnson (JNJ)
• Abbott Laboratories (ABT)
• Intuitive Surgical Inc. (ISRG)
• Stryker Corp. (SYK)
• Boston Scientific Corp. (BSX)
• Medtronic Plc (MDT)
• Becton, Dickinson and Co. (BDX)
• Edwards Lifesciences Corp. (EW)
• Zimmer Biomet Holdings Inc. (ZBH)
• Baxter International Inc. (BAX)
• GE HealthCare Technologies Inc. (GEHC)
• The Cooper Companies Inc. (COO)
• Jabil Inc. (JBL)
• Apple Inc. (AAPL)
• HP Inc. (HPQ)
• NetApp Inc. (NTAP)
• Hewlett Packard Enterprise Co. (HPE)
• Cisco Systems Inc. (CSCO)
• Arista Networks Inc. (ANET)
• Juniper Networks Inc. (JNPR)
• QUALCOMM Inc. (QCOM)
• Applied Materials Inc. (AMAT)
• Lam Research Corp. (LRCX)
• KLA Corp. (KLAC)
• Western Digital Corp. (WDC)
• Amphenol Corp. (APH)
• TE Connectivity Ltd. (TEL)
• International Paper Co. (IP)