Global trade is becoming more fragmented, with higher tariffs, protectionist policies and fresh risks to cross border digital commerce. That mix can create headwinds for companies built on long supply chains, while potentially giving an edge to businesses that earn most of their revenue closer to home. This article looks at how the latest World Trade Organization developments and geopolitical tensions might affect a group of stocks exposed to these shifts in trade, and highlights 3 domestically focused companies from our Onshoring and Regionalization screener as potential opportunities.

Cross Country Healthcare (CCRN)

Overview: Cross Country Healthcare provides healthcare talent management in the United States, supplying hospitals, clinics, schools and other providers with nurses, allied health professionals and physicians on temporary and permanent placements, as well as running technology and outsourcing solutions to manage entire workforces.

Operations: Cross Country Healthcare generates about US$822 million from Nurse and Allied Staffing, including search services, and about US$180 million from Physician Staffing, with all of its US$1.0b revenue coming from the United States.

Market Cap: US$408.4 million

Investors looking for companies less exposed to global trade tensions may find Cross Country Healthcare interesting, as it is a US focused healthcare staffing specialist with revenue concentrated in domestic hospitals and care providers rather than cross border supply chains. The stock trades on a low P/S multiple and has a pending all cash buyout agreement at a premium to the Simply Wall St fair value estimate. However, the business is still working through losses, revenue pressure in travel nursing and funding risk tied to external borrowing. At the same time, management is pushing ahead with AI enabled workforce tools like Intellify and new leadership hires, which could reset margins and growth if execution improves.

Cross Country Healthcare’s low P/S and all cash buyout interest hint at a story the market may not fully be pricing; yet funding pressure and AI workforce tools could change the script, so readers may want to see the analysis report for Cross Country Healthcare

AMN Healthcare Services (AMN)

Overview: AMN Healthcare Services is a US based provider of healthcare staffing and workforce solutions, supplying hospitals, clinics, schools and other facilities with nurses, allied health professionals, physicians, interim leaders and language services supported by technology platforms.

Operations: AMN Healthcare Services generates about US$2.36b from Nurse and Allied Solutions, roughly US$686 million from Physician and Leadership Solutions and around US$372 million from Technology and Workforce Solutions, with its US$3.42b revenue coming entirely from the United States.

Market Cap: US$1.2b

AMN Healthcare Services sits at the intersection of domestic healthcare demand and growing interest in flexible staffing, with recent moves into AI enabled language services and workforce tools aimed at improving efficiency, while global trade frictions leave its US focused revenue base largely untouched. At the same time, investors need to weigh a recent period of losses, revenue pressure in some segments, elevated funding risk from reliance on external borrowing and questions around rising executive pay, all while the company pursues acquisitions and adds senior leaders to capture share in a fragmented industry. For investors, the key consideration is whether AMN’s mix of technology, scale and consolidation appetite is sufficient to offset these pressures as hospitals remain cost conscious.

AMN Healthcare Services could be an efficiency story hiding inside a period of pressure, with AI tools and acquisitions potentially masking the real earnings power. Get the full picture in the analysis report for AMN Healthcare Services

Deliveroo (LSE:ROO)

Overview: Deliveroo runs an online platform that connects consumers with local restaurants, grocers and riders to deliver food and non food items on demand across the UK, Ireland and several international markets, operating as part of DoorDash since 2025.

Operations: Deliveroo generates about £2.1b from operating its on demand food delivery platform, with roughly £1.3b from the UK and Ireland and about £843.1m from international markets.

Market Cap: £2.7b

Deliveroo stands out in a world of trade friction because its model is rooted in local delivery networks, so it is less exposed to cross border disruption while still giving you exposure to online consumer spending. Analysts expect earnings and revenue growth, with forecasts pointing to a move toward profitability and a fair value estimate that currently sits above the share price. Yet the company is still loss making, has higher funding risk from reliance on external borrowing and operates with a relatively high P/S within UK hospitality. For investors, the real question is whether Deliveroo’s push to improve unit economics, trim costs and focus on core markets can turn that local scale into sustainable returns before competition or funding costs bite too hard.

Deliveroo’s push to tighten unit economics and focus on core markets could be masking the real earnings story, and the analyst forecasts for Deliveroo may reveal whether that local scale is quietly reshaping expectations.

The three stocks covered here are only a starting point, with the full Domestic-Focused Companies (Onshoring and Regionalization) screener surfacing 6 more companies that pair domestic or regional focus with equally compelling onshoring narratives. Use Simply Wall St to identify the specific catalysts, funding profiles and business stories that matter to you so you can analyze and prioritize the highest conviction opportunities in this theme.

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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.