Tariff policy is back in the spotlight after court rulings, refunds and fresh import charges have reshaped the cost of bringing goods into the US. For import heavy stocks, the mix of a US$100b refund pool, legal challenges and new tariffs on more than 80 countries creates both relief and fresh risk. Some companies may gain breathing room from extra liquidity, while others face higher input costs and policy uncertainty. This article looks at 3 stocks exposed to these trade developments and how this changing backdrop could affect their investment appeal.

Lear (LEA)

Overview: Lear is a global auto supplier that designs and produces car seats and electrical systems, supplying major vehicle manufacturers across North America, Europe, Asia, Africa and South America.

Operations: Lear generates most of its revenue from Seating at about US$17.7b, with a further US$6.3b from its E-Systems segment.

Market Cap: US$6.2b

Investors looking at tariff sensitive importers may find Lear interesting because it sits in the middle of global auto supply chains, with seating and E-Systems content tied directly to vehicle production and electrification. Recent US tariff refunds and new import credits are reshaping reported revenue, yet management reports no earnings impact and a strong record of recouping tariff costs from customers. At the same time, Lear faces headwinds from lower volumes on some key platforms, a large recent one off loss of US$222.4 million and E-Systems pressure. Set against this are rising earnings expectations, record first half 2026 revenue above US$12b, and a P/E that sits below many auto component peers. Together, these factors could make the current risk reward balance worth a closer look.

Tariff refunds, a lower P/E and record first half 2026 revenue make Lear look like an underappreciated import player, yet the recent US$222.4m loss and E-Systems pressure raise harder questions that the 4 key rewards and 3 important warning signs

BorgWarner (BWA)

Overview: BorgWarner is a global auto supplier that provides key components for combustion, hybrid and electric vehicles, including turbochargers, inverters, eMotors, battery systems and drivetrain parts used by major carmakers worldwide.

Operations: BorgWarner generates most of its revenue from Turbos & Thermal Technologies at about US$5.8b and Drivetrain & Morse Systems at about US$5.7b, with PowerDrive Systems adding roughly US$2.4b and Battery Energy Systems about US$0.5b.

Market Cap: US$13.0b

BorgWarner sits right in the flow of global auto trade. This means tariff refunds can feed directly into lower material costs and extra liquidity at the same time that new EV and hybrid awards are building its future revenue base. Recent contract wins for inverters, integrated drive modules and eTurbo programs, plus raised 2026 guidance, support the view that its shift toward electric propulsion is gaining traction even as combustion products remain important. However, the stock carries a relatively high P/E, there was a sizeable one off loss of US$746.0m over the last 12 months and insider selling has picked up, so execution on electrification and tariff risk management really matter. Investors who want the full picture on how this risk and reward mix stacks up against the current valuation may find the 2 key rewards and 2 important warning signs

BorgWarner’s pivot toward electric propulsion is gathering speed while combustion cash flows still matter, and the market may not be pricing that balance correctly. Get the full context through the 2 key rewards and 2 important warning signs

Adient (ADNT)

Overview: Adient is a global auto supplier that designs and manufactures complete seating systems and components, such as frames, foams and trim, for passenger cars, commercial vehicles and light trucks. It sells these products to major automakers across North America, South America, Europe, the Middle East, Africa and Asia.

Operations: Adient generates about US$7.1b of revenue in the Americas, US$4.9b in Europe, the Middle East and Africa and US$3.1b in Asia, partly offset by US$81m of corporate eliminations.

Market Cap: US$1.6b

Adient is one of the most exposed auto suppliers to US tariffs because its seating systems rely heavily on imported materials. Management reports that roughly 75% of its gross monthly tariff exposure is already resolved, and that most recent tariff costs are expected to be recovered in the second half of 2025. In addition, Adient is targeting 100% tariff resolution, pursuing cost savings and focusing on higher content seating for EVs and premium models. At the same time, the stock carries a high P/E, earnings have been volatile with one off losses and all liabilities are funded through external borrowing, which means the balance sheet and margin progress deserve close attention.

Adient’s tariff exposure and higher content seating push could be setting up a story that many investors have not fully priced in. Get the fuller risk and turnaround picture in the full narrative for Adient.

These three import heavy stocks are only a starting point, with the full US Import Heavy Companies screener surfacing 16 more companies in the US Import-Heavy Companies screener that carry similarly interesting tariff stories and financial profiles. Use Simply Wall St to identify, filter and analyze the specific catalysts and narratives that matter to you, so you can focus on the import exposed companies that best fit your highest conviction ideas.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.