U.S. tariffs on a wide range of Brazilian imports are reshaping where American companies source key products, and that shift could matter for your portfolio. As costs rise for imported machinery, apparel, footwear, electrical equipment, paper, and some chemicals, U.S. based suppliers may see new demand from buyers looking closer to home. This article looks at three stocks exposed to that trade story, all drawn from a U.S. Import Substitution Stocks screener built around the latest tariff news. The goal is simple: help you decide whether these potential beneficiaries deserve a closer look or a spot on your watchlist.

Crocs (CROX)

Overview: Crocs is a U.S. footwear company that designs, makes, and sells casual shoes and accessories for men, women, and kids under the Crocs and HEYDUDE brands, offering everything from clogs and sandals to sneakers and boots through retail stores, wholesalers, outlets, and online channels worldwide.

Operations: Crocs generates about US$3.3b in revenue from its Crocs brand and about US$693m from HEYDUDE, with additional reporting across international markets.

Market Cap: US$6.5b

Investors looking at Crocs today are weighing a U.S. footwear leader that could gain from higher tariffs on Brazilian shoes, which may make domestic options more attractive, against real questions about growth quality and cost pressures. The company is pushing direct to consumer, digital initiatives like TikTok Shop, and international expansion. It is also managing tariff related headwinds that management quantify in the tens of millions of dollars annually and working through HEYDUDE brand issues. With analysts forecasting a return to strong profitability and Crocs raising its 2026 earnings guidance, the mix of potential tariff tailwinds, brand power, high debt and insider selling makes this a stock where the upside case is compelling, but the risks deserve close attention.

Tariff pressure on Brazilian footwear, Crocs pushing direct to consumer, and a higher 2026 earnings guide all point to a story investors may be underestimating. The analyst forecasts for Crocs could reveal what the market has not fully priced in yet

United States Antimony (UAMY)

Overview: United States Antimony is a U.S. based producer of antimony, zeolite, and precious metals that feeds into flame retardants, batteries, filtration, environmental cleanup, and other industrial uses across North America.

Operations: The company generates about US$35.8m from its Antimony segment and US$3.3m from Zeolite, with nearly all revenue coming from U.S. customers and a small portion from Canada.

Market Cap: US$951.3m

United States Antimony sits at the intersection of critical minerals policy, new capacity ramp ups, and the U.S. push to source more materials at home, which becomes more relevant as tariffs raise the cost of Brazilian chemicals and industrial inputs. The company is already shipping under a US$245m Defense Logistics Agency contract, commissioning new processing assets like the Radersburg mill, and pursuing federal support for further refining projects, while also bringing AI into mine planning to improve decision making. At the same time, investors need to weigh funding risk from a short cash runway, ongoing losses, and dilution. This is why the fuller story of contract visibility, pricing power, and execution risk really matters before deciding how UAMY fits in a portfolio.

Tariff driven demand, a US$245m government contract, and new refining projects put United States Antimony in a rare spot for critical minerals, but the real twist sits inside the 3 key rewards and 3 important warning signs

Swarmer (SWMR)

Overview: Swarmer is a U.S. defense technology company that builds software and AI to coordinate large swarms of unmanned drones and other robotic systems across air, ground, and maritime domains. Its platforms allow military and government operators to plan missions, control fleets, and process real time data through its STYX, MINAS, and TRIDENT platforms.

Operations: Swarmer currently generates about US$0.2m in revenue from Software & Programming, with all reported sales coming from Eastern Europe.

Market Cap: US$449.2m

Swarmer operates at the intersection of AI, unmanned systems, and defense spending. This positioning places it in focus as U.S. tariffs on Brazilian machinery and industrial inputs encourage more sourcing from domestic technology suppliers. Analysts have published expectations of very large forecast growth in both revenue and earnings for Swarmer, supported by reported contracts such as Meta Bureau and Progress TRW license deals, index inclusions, and new partnerships from Japan to environmental monitoring projects that indicate its software is not solely tied to defense applications. At the same time, the company is currently loss making, carries a high P/B multiple, has a relatively inexperienced leadership team, and funds all liabilities through external borrowing. Understanding how these risks compare with the potential opportunities may be important when considering how Swarmer could fit into a portfolio.

Swarmer’s accelerating AI and defense story, tiny current revenue base, and high P/B ratio hint at a much bigger swing than most investors are pricing in right now. The analyst forecasts for Swarmer could be where the real tension between potential and risk starts to show

The three stocks covered here are just a starting sample, and the full U.S. Import Substitution Stocks screen has surfaced 45 more companies with equally compelling stories tied to tariffs, reshoring, and domestic supply chains through the U.S. Import Substitution Stocks screener. Use Simply Wall St to identify, filter, and analyze the catalysts that matter most to you, from tariff exposure and balance sheet strength to earnings quality, so you can focus on 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.