President Donald Trump has said that he’s open to tariff negotiations , and there are some stocks that could benefit if deals were to be made between the U.S. and other countries, according to Jefferies. Stocks extended their sell-off into a fourth trading day Tuesday, with the S & P 500 falling about 1.6%, ahead of Trump’s “reciprocal” tariffs deadline at midnight. The Nasdaq Composite and Dow Jones Industrial Average also slid, posting losses of more than 2% and more than 300 points, or 0.8%, respectively. Amid the tariff worries, Aniket Shah – Jefferies’ head of sustainability, transition and Washington strategy – sought to determine which countries could act most quickly to negotiate tariff deals with the Trump administration, ranking the list of major countries that had received new duties based on: The relationship of the respective government or head of state with the Trump administration The relative magnitude of U.S. goods imports The contribution of U.S. exports to gross domestic product (GDP) The tariff rate differential The current strength of the economy According to that criteria, Shah believes that the U.K., Japan, Vietnam, India and Cambodia are positioned as the top five countries that are “most likely to come to terms quickly.” Trump announced new levies on those countries of 10%, 24%, 46%, 26% and 49%, respectively. The stocks of several companies could also see a lift if the administration successfully reaches an accord with these nations, too. Below are some of the stocks that came up. Sneaker and apparel maker Nike – which has potential leverage to both Vietnam and Cambodia – has taken a sizable hit since Trump’s “liberation day” tariffs announcement. The stock has fallen nearly 18% over the past week. Notably, Nike manufactured around 50% of its footwear and about 28% of its apparel in Vietnam in 2024, according to a filing with the Securities and Exchange Commission. Additionally, 15% of the company’s apparel manufacturing was done in Cambodia last year. Analyst Randal Konik, who has a buy rating on the stock and whose $115 price target implies nearly 116% upside from Tuesday’s close, joins many on Wall Street in his bullish stance. Nike is buy-rated, with 20 out of the 40 analysts covering it having a strong buy or buy rating, per LSEG. Boeing , meanwhile, could benefit from possible tariff deals with the U.K., Japan and India, as a portion of its deliveries have been international. In fact, more than two-thirds of its airplane orders in the past decade have been to customers outside of the U.S. While shares ended Tuesday marginally higher on the heels of the company seeing a jump in its deliveries in March compared to last year, they’ve fallen more than 17% in the past week and more than 21% in 2025. BA YTD mountain BA, year-to-date “Magnificent Seven” name Amazon would benefit from deals with the U.K. and Japan, Jefferies noted. Shares shed more than 2% Tuesday. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
