Taiwan Semiconductor Stock And 2 Export Giants Facing The New Tariff Reality

US tariff policy is becoming more entrenched, with new 10% to 12.5% levies on imports from 60 economies and the prospect of further Section 301 and 232 actions. That pushes global trade toward a more fragmented model, where exporters often tailor separate supply chains and product lines for US and non US markets. For investors, that shift can create both pressure and opportunity across large non US multinationals. This article focuses on three stocks from a Non US Multinational Exporters screener that appear closely exposed to these trade shifts and may warrant a closer look, whether you are considering investing or staying on the sidelines.

Taiwan Semiconductor Manufacturing (TWSE:2330)

Overview: Taiwan Semiconductor Manufacturing is a pure play contract chipmaker that manufactures advanced integrated circuits for customers worldwide, powering high performance computing, smartphones, cars, connected devices and consumer electronics from its foundries and packaging operations.

Operations: Taiwan Semiconductor Manufacturing generates essentially all of its NT$4,440,492.3m revenue from its Foundry segment, producing wafers on a contract basis for global chip designers.

Market Cap: NT$61,459.7b

Investors considering trade fragmentation may want to pay close attention to Taiwan Semiconductor Manufacturing. The company sits at the heart of AI and high performance computing, has a global customer base, and is working on US facilities and packaging partnerships that can help it adjust supply chains as tariffs evolve. At the same time, management openly highlights tariff related cost pressures and inflation risk, and there has been meaningful insider selling alongside high executive pay. Strong profitability, large scale and entrenched customer relationships give Taiwan Semiconductor Manufacturing tools to manage these risks. The key question for investors is how its export driven model fits into a world of separate US and non US tech systems.

TSMC’s scale and US build out could be masking a more complicated story around tariffs, costs and customer mix. See how the 5 key rewards and 2 important warning signs (1 is major!) might reshape how you think about its next chapter.

Foxconn Industrial Internet (SHSE:601138)

Overview: Foxconn Industrial Internet is a Shenzhen based subsidiary of Foxconn that builds the hardware and software behind data centers, 5G networks and factory automation, supplying high performance servers, networking gear, industrial robots and smart manufacturing services to global customers.

Market Cap: CN¥1.1t

Foxconn Industrial Internet sits in the middle of several themes that matter for tariff driven supply chain shifts. The company already serves clients across Mexico, Vietnam, Singapore, Mainland China and beyond, which can help it lean into non US demand as global trade splits into separate systems. Analysts currently describe strong growth potential, with revenue and earnings forecasts ahead of broad China market expectations, while the stock trades on a P/E that is lower than many local electronics peers and below some fair value estimates. At the same time, relatively thin profit margins, a dividend that is not well covered by free cash flow and a reliance on external funding mean investors may wish to watch cash generation closely.

Foxconn Industrial Internet’s cross border footprint and lower P/E could be masking a sharper story about future orders and margins. Get the full picture in the analyst forecasts for Foxconn Industrial Internet and see what might be missing.

Airbus (ENXTPA:AIR)

Overview: Airbus is a European aerospace group that designs and builds commercial jets, helicopters, and military aircraft, along with satellites and related services, for airlines, governments, and other customers worldwide.

Operations: Airbus generates most of its revenue from its Airbus segment at €55.6b, with additional contributions from Airbus Defence and Space at €13.9b and Airbus Helicopters at €9.0b, partly offset by €1.5b of eliminations.

Market Cap: €164.6b

Airbus stands out in this Non US Multinational Exporters group because it is a European aircraft leader with a broad global order book and relatively limited reliance on US sales, which can matter as tariffs harden and supply chains split. Earnings have grown 6.1% per year over 5 years and are forecast to rise 14.72% annually, supported by a large commercial backlog, recent H1 2026 revenue growth of 12% and Q2 adjusted EBIT of €2.43b. At the same time, Airbus relies heavily on external borrowing and faces ongoing supply chain and engine issues that could affect delivery timing. With a P/E below peer averages and strong recent earnings momentum, the key consideration is how much of this tariff resilience and potential mispricing investors are already factoring in.

Airbus looks like a classic case of rising orders and earnings momentum meeting a P/E that suggests investors may be underpricing the story. The analyst forecasts for Airbus reveals one twist that could change how you see that gap.

The three stocks covered here are only a starting point, and the full Non-US Multinational Exporters screener surfaces 24 more large non US exporters with equally compelling stories around tariffs, supply chains and financial strength. Use Simply Wall St to identify and analyze the catalysts, trade exposures and narrative threads that matter most so you can focus on the highest conviction opportunities in this theme.

Take Control of Your Investment Journey

If Airbus or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Seeking Fresh Alternatives Before Others Do

New ideas often move first when tariffs shift and capital chases the next breakout. Do not get caught watching while momentum is flying past under the radar for now. Consider taking action based on your own research and risk tolerance.

• Spot early breakouts with strong balance sheets by scanning the curated list of solid balance sheet and fundamentals (414 results) and consider whether to act before those fundamentals are fully reflected in prices.
• Explore potential momentum in companies tied to digital assets as interest returns to the theme and investors re-evaluate curated 21 cryptocurrency and blockchain stocks that could still be under the radar.
• Tilt toward resilient cash flows while yields remain elevated by reviewing the hand picked 440 dividend fortresses and decide which high payers may merit a deeper look.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com