To fuel American-made products and services, President Donald Trump has proposed tariffs on various countries including Canada, China, and Mexico.
A tariff is a tax imposed by one country on the goods and services imported from another country. But the president’s proposals have come under intense scrutiny because some critics argue these are inflationary practices that would result in countries passing on taxes to American consumers in the form of higher prices for foreign-made goods.
Nonetheless, there may be a silver lining for investors. Trump’s tariffs could give a competitive edge to U.S.-based production facilities as foreign-made goods theoretically become less attractive with their higher prices. So let’s take a look at some of the industries that may benefit from Trump’s tariffs.
Agriculture and Food
U.S.-based food producers and farming complexes could get a shot of invigoration in light of more expensive food products coming in from overseas.But the industry today stands as one of America’s most important. The agriculture, food, and related industries contributed about $1.54 trillion, or 5.5 percent, of gross domestic product (GDP) in 2023, according to the latest analysis by the U.S. Department of Agriculture.
Moreover, the agriculture and food sectors account for more than 22.1 million full- and part-time jobs, or 10.4 percent of total U.S. employment. Meanwhile, direct on-farm employment represents about 2.6 million of these jobs, or 1.2 percent of U.S. employment.
These are some of the top agriculture and food companies today:
Corveta: This is a major U.S. agricultural chemical and seed company. It provides farmers with a full portfolio of products spanning from various insecticides to seeds. It has a market cap of about $42.55 billion and is the world’s 490th most valuable company by market capitalization, according to research from Global Rankings.
AGCO: Based in Duluth, Georgia, this is an American agricultural machinery manufacturer that produces products such as tractors, combines, seeding equipment, and smart farming technologies. It has a market capitalization of $7.07 billion.
PepsiCo.: Based in Purchase, New York, PepsiCo. owns many popular American food brands including Pepsi, Quaker Oats, and Gatorade. It has a current market capitalization of about $200.85 billion and has boasted more than 50 consecutive annual dividend increases.
Energy
Trump has long been a proponent of domestic energy. In fact, he has announced a 25 percent tariff on nations purchasing oil and gas from Venezuela.So, domestic energy companies could stand to gain a powerful charge if foreign energy becomes more expensive. These are some of the largest energy companies based in the United States:
Exxon Mobil Corp.: Headquartered in Spring, Texas, Exxon is one of America’s biggest oil and gas companies. It also provides decarbonized power for data centers, among other clean-energy initiatives. It has a market capitalization of around $502.5 billion.
Chevron Corp.: Houston-based Chevron specializes in oil and gas exploration, production, and refining. It has a market capitalization of about $290.53 billion and is the second-largest integrated energy company headquartered in the United States. In addition, Chevron has increased its year-over-year revenue by 10.7 percent, to $52.23 billion.
ConocoPhillips: This is a Houston-based independent exploration and production company. It recently reported fourth-quarter 2024 earnings of $2.3 billion. It has a market capitalization of about $130.02 billion.
Defense Sector
In his March speech to Congress, Trump vowed to revitalize the naval ship-manufacturing sector and said he would work to “bring this industry home.” And with ongoing geopolitical tension, including renewed conflict in Gaza, many investors are turning to defense stocks.These stocks are generally considered safe because defense spending in the United States tends to stay in line even during times of economic uncertainty. In addition, many of the biggest defense companies have large contracts with the U.S. Department of Defense, ensuring a steady stream of revenue.
So let’s take a look at the biggest defense companies based in the United States by revenue, according to an analysis by fund manager U.S. Global Investors.
Lockheed Martin: Based in Bethesda, Maryland, Lockheed Martin is a leading U.S. defense and aerospace manufacturer specializing in research, design, and development of advanced military defense systems and equipment. It has a market capitalization of about $102.39 billion.
RTX: Formerly known as Raytheon Technologies, RTX’s specialties include hypersonic weapons and advanced air defense systems. It pulled in $40.6 billion in defense revenue in 2024, and it recently secured a $333 million payment from the Department of the Navy to produce Standard Missile-6 (SM-6) Block IA missiles.
Northrop Grumman: Based in West Falls Church, Virginia, this company boasts a portfolio of products designed for air, sea, land, space, and cyberspace. And it has secured $35.2 billion in defense revenue.
The Bottom Line
Despite fears of tariffs sparking trade wars, Trump’s policies could provide certain opportunities for investors. Ultimately, the president’s goal is to spur American business. So companies that are based in the United States and are heavily involved in domestic production could stand to benefit from a competitive edge. These include companies in the agriculture and food, domestic energy, and military defense sectors.The Epoch Times copyright © 2025. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
