Some businesses are panicked about the high prices that could result from President Trump’s steep tariffs on virtually all nations, but several U.S. industries welcome the levies.
Beer brewers, steel and aluminum companies, shrimpers, and construction and heavy machine manufacturers benefit. Each of these industries has been hurt by a flood of cheap imports and is eager for more tariffs to raise prices on overseas competitors.
Shrimp
Shrimpers and shrimp associations hailed the tariffs as a critical lifeline for an industry battered by foreign competition.
Roughly 96% of all shrimp consumed in America is imported from countries such as India, Indonesia and Ecuador. Raising shrimp in a pond overseas is considerably cheaper than outfitting a shrimp boat with paid workers, fuel and other necessities in the U.S.
Cheaper imports faced no tariffs, undercutting the U.S. shrimp industry. As a result, U.S. shrimpers have lost nearly 50% of the market value and forced many shrimping businesses to close, according to data from the Southern Shrimp Alliance.
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In 2000, Texas had more than 2,500 licensed commercial shrimpers along its Gulf Coast. It now has fewer than 1,000. In 1995, Alabama had 1,423 licensed commercial shrimp holders. That number was down to 407 last year.
Since 2021, several countries, including Ecuador, have doubled their shrimp exports to the United States. Under Mr. Trump’s tariff plan, Ecuador was hit with a 10% levy on its goods.
John Williams, executive director of the Southern Shrimp Alliance, said his organization is “grateful” for Mr. Trump’s tariffs. He said the move will “preserve American jobs, food security and our commitment to ethical production.”
“We’ve watched as multigenerational family businesses tie up their boats, unable to compete with foreign producers who play by a completely different set of rules,” Mr. Williams said.
Beer
American beer companies such as Anheuser-Busch could benefit from the tariffs imposed on beers imported from Mexico, Canada and Germany. If the prices of imported beers increase, more Americans may switch to less-expensive American brands.
Anheuser-Busch, which makes Budweiser and Michelob, has more than 100 brewing facilities across 24 states and buys more than $700 million in ingredients from American farmers each year, the company said.
Nearly all the beer the company sells in the U.S. is made in America, giving it a distinct advantage over foreign competitors such as Corona, which is made in Mexico, and Molson Coors, which is partly headquartered in Canada.
“Most of our beer is sourced, brewed and consumed locally, so any exposure to tariff is very limited,” Anheuser-Busch CEO Fernando Tennenbaum told Yahoo Finance in February.
Heavy machinery
Companies with strong U.S.-based production facilities, such as heavy machine manufacturers Caterpillar Inc. and John Deere, are expected to gain a competitive advantage as higher import costs make American-made goods more attractive.
During an earnings call, Caterpillar CEO Jim Umpleby told investors that his company is well-positioned to withstand the tariffs because most of its manufacturing is in the U.S.
“Our largest manufacturing presence is in the United States, and we are a net exporter outside of the U.S. That positions us pretty well against many of the companies out there,” he said.
The company is the largest U.S. equipment manufacturer in the U.S., with 60 primary manufacturing locations scattered across 25 states.
Meanwhile, John Deere said more than 75% of the equipment it sells is made in the U.S. and it exports more equipment from America than it imports.
Josh Beal, the company’s director for investor relations, said during an investor conference call that about 10% of the components for its machinery come from Mexico and 1% from Canada, positioning the company to withstand the hit of tariffs. He said higher tariffs on imports from China would be “immaterial” in terms of costs because less than 2% of its components are sourced from the country.
Aluminum and steel
America’s steel and aluminum companies have long argued that foreign rivals underprice them because of subsidies and other support from their governments. They say tariffs will raise prices, driving consumers to American products.
Steel and aluminum were not included in Mr. Trump’s reciprocal tariffs announced Wednesday because he levied a 25% tariff on them across the board last month.
Philip K. Bell, president of the Steel Manufacturers Association, said the industry has created more jobs and led to investments of roughly $20 billion in the domestic steel industry since the tariffs were imposed.
“President Trump is a champion of the domestic steel industry and his America First Trade Policy is designed to fight the unfair trade that has harmed American workers and weakened manufacturing in the United States,” Mr. Bell said in a statement.
Since the revised tariffs took effect, Hyundai Steel, a Japanese company, announced it would invest $5.8 billion in a steel mill in Louisiana.
• Jeff Mordock can be reached at jmordock@washingtontimes.com.
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