New global tariffs of 10% to 12.5% on nearly all U.S. imports are creating fresh questions for domestic manufacturing stocks. With 25 states, including New Jersey, challenging the policy in court and seeking refunds on tariffs already paid, the eventual outcome could reshape costs, supply chains, and pricing power for many U.S. producers. For investors, this is less about predicting the lawsuit and more about understanding which companies might be better positioned if import costs stay elevated or are rolled back. This article looks at 3 stocks exposed to this tariff story from our Domestic Manufacturing Stocks screener.

Ternium (TX)

Overview: Ternium is a Luxembourg based steel producer that makes a wide range of flat and long steel products, as well as iron ore, serving customers across Mexico, Brazil, the Southern Region and other international markets. It runs both steel and mining operations and also provides related services such as scrap processing, engineering and medical and social services.

Operations: Ternium generates about US$15.1b in revenue from its Steel segment and around US$1.1b from its Mining segment, with inter segment eliminations of roughly US$0.6b.

Market Cap: US$9.8b

Ternium stands out in this tariff focused story because it has meaningful North American steel production, a growing footprint in Mexico and Brazil and its own iron ore mining, which can help it manage input costs and benefit if import reliant rivals face higher expenses. Recent earnings show higher volumes and stronger margins, the Pesquería expansion aims to shift the product mix toward higher value steel, and analysts see room for earnings growth even after a strong share price run. The main watchpoints are heavy capital spending, exposure to Latin American currencies and a dividend that leans on cash generation. How those trade offs play out under the new U.S. tariff regime is what really matters for investors.

Ternium’s mix of higher value steel, its own iron ore and tariff exposed rivals could be masking a much bigger story for earnings resilience. Get the full picture in the 3 key rewards and 1 important warning sign

NPK International (NPKI)

Overview: NPK International is a U.S. based provider of temporary worksite access, manufacturing, selling and renting recyclable composite matting systems that let customers build access roads and stable platforms for projects like power transmission lines, pipelines, renewable energy installations and large construction sites.

Operations: NPK International generates about US$300.7m in Industrial Solutions revenue, with roughly US$272.1m coming from customers in the United States and US$28.6m from the United Kingdom.

Market Cap: US$1.1b

NPK International gives investors direct exposure to the build out of power grids, pipelines and energy projects at a time when many global rivals are wrestling with tariff and import uncertainty. Recent results show higher revenue and EBITDA, record rental income and a higher full year EBITDA outlook, supported by a larger rental fleet and a planned 50% capacity lift at its Louisiana plant. At the same time, the stock carries a relatively high P/E ratio, profit margins have slipped from 17.9% to 13%, and earnings declined over the past year, so execution on expansion and cost control is important. The balance between infrastructure demand, tariff insulation and these risks is what investors need to assess.

NPK International’s growth story in grid and energy projects is accelerating, yet the high P/E and margin pressure suggest investors are missing a key twist in the analysis report for NPK International

Metallus (MTUS)

Overview: Metallus is a long established U.S. based steel producer that makes alloy, carbon and micro alloy steel bars, tubes, billets and precision components used in everything from automotive drivetrains and heavy trucks to oil and gas drilling, wind turbines, rail, mining equipment and defense hardware.

Market Cap: US$897.5m

Metallus provides direct exposure to U.S. manufacturing at a time when tariffs and supply chain concerns are nudging customers toward domestic steel suppliers, especially for high specification products in aerospace, defense and clean energy. Sales were US$649.3m in the first half of 2026 with net income of US$14.3m. The company is repurchasing shares and has secured a long dated US$300m credit facility that can support growth projects. At the same time, earnings have been volatile, the P/E ratio is very high and the business relies on external borrowing, so results are sensitive to changes in demand, pricing and trade policy. For investors watching how the tariff dispute develops, Metallus is a stock where U.S. focused operations could turn legal uncertainty into a potential competitive edge.

Metallus looks like a U.S. manufacturing pure play with earnings volatility, a high P/E and fresh credit capacity that the market may not fully be pricing. The 3 key rewards and 1 important warning sign might show why that mix could surprise investors.

The three stocks covered here are just a sampling of the tariff exposed opportunities in U.S. manufacturing, and the full screener has identified 22 more companies with equally compelling stories inside the Domestic Manufacturing Stocks screener. Use Simply Wall St to identify and analyze the specific catalysts, tariffs, reshoring exposure and financial narratives that fit your highest conviction ideas.

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Seeking Alternatives Beyond Tariff Stories

Fresh stock ideas can start moving before most investors even notice. Use these curated lists while the information is still under the radar for now.

• Spot companies quietly building momentum before a broader rerating and scan the 52 high quality undervalued stocks that could be flying under most investors' radars.
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• Explore early breakout potential in sectors the crowd often overlooks and review the 18 high quality undiscovered gems before they become more widely followed in the market.

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.