30 businesses that are booming under the Trump administration
Daniel Coughlin
02 August 2018
Businesses profiting big-time from the current administration's policies
Whatever you think about the leader of the free world, there's no denying President Trump's policies have helped power up the US economy. From corporate tax cuts and America First tariffs to decreased regulation and increased infrastructure spending, POTUS' policies are benefiting many companies, though some firms like Harley-Davidson and Campbell's Soup are set to suffer. Here are 30 enterprises that are positively thriving.
US Steel
After President Trump announced a 25% tariff on imported steel in March, US Steel upgraded its full year earnings outlook by a massive $200 million to reflect increasing domestic demand, and the company share price is up 55% since this time last year.
Nucor
Likewise, America's number one steel producer Nucor is expected to profit considerably from the Trump administration tariffs, which the North Carolina firm believes are “restoring a level playing field”.
Apple
In December, President Trump lowered the corporate tax rate from 35% to 21%. As a consequence, Apple reported much stronger than expected results for the first quarter of 2018, and has increased its share buyback programme by $100 billion and dividend payments by a hefty 16%.
President Trump's preferred mode of communication is on fire right now. No doubt aided in part by the former Apprentice star, Twitter reported record profits for the first quarter of 2018 and its stock has skyrocketed by 82% since the start of the year.
Alcoa
As is the case with other American aluminium producers, Pennsylvania-based Alcoa is cleaning up thanks to an increase in demand due to the punishing Trump tariffs. Alcoa shares rose significantly in April and earnings for the first quarter of 2018 surpassed expectations.
Berkshire Hathaway
In February, Berkshire Hathaway CEO Warren Buffett revealed that $29 billion-worth of profits made by the company in 2017 were as a direct result of the Trump administration corporate tax cut in December.
Walmart
In January, Walmart raised wages, treated staff to a bonus and expanded maternity and paternity leave with cash freed up by the Trump administration corporate tax cut, which the retailer credits with making it more competitive in the US and overseas.
Vulcan Materials
In February, President Trump announced a whopping $1.5 trillion investment to update the nation's infrastructure, much to the delight of America's construction companies, including Alabama aggregate producer Vulcan Materials.
Fiat Chrysler
Though President Trump's threatened tariffs on imported cars would hammer Fiat Chrysler, the auto behemoth has enjoyed a boost from the Republican administration tax cut, enabling it to move production of its Ram vehicles to the US, and reward staff with large bonuses.
J. P. Morgan Chase
America's leading banks are reporting record profits thanks to the Trump administration corporate tax cut. J. P. Morgan Chase, the biggest bank in America, posted best-ever profits of $8.7 billion for the first quarter of 2018, up 35% from the previous year.
AT&T
AT&T CEO Randall Stephenson has welcomed the Trump administration corporate tax cut, which the telecoms boss believes has strengthened the business. “This tax reform will ensure lasting economic growth, investment and job creation,” he commented last December.
Steel Dynamics
Indiana-based Steel Dynamics is flourishing on the back of President Trump's new America First tariffs. The metal manufacturer is reporting record incomes and its share price has risen by 43% since November.
Comcast
President Trump's corporate tax reduction, not to mention the Federal Communications Commission's repeal of net neutrality, have been a boon for Comcast. The telecoms giant has lavished its employees with big bonuses, and plans to invest $50 billion in American infrastructure over the next five years.
Bank of America
Like many other US financial institutions, Bank of America is prospering under President Trump. Back in April, the bank reported record quarterly profits of $6.9 billion, an increase of 30% from 2017.
The New York Times Company
Since President Trump has been in power, The New York Times newspaper has increased its audience spectacularly and reported a record number of new subscriptions. The liberal publication is a prominent critic of the president and his administration.
Goldman Sachs
President Trump's generous corporate tax break has translated to a bumper $2.3 billion jump in Goldman Sachs' profits for the first quarter of 2018, an increase of 30% from the previous year.
Martin Marietta
This major supplier of aggregates and other building materials is one of the companies that is poised to benefit from the Trump administration's colossal $1.5 trillion infrastructure investment.
GEO Group
The Trump administration's controversial border detention policy is expected to enrich private prison operators with federal contracts, according to a report by investment bank SunTrust Robinson Humphrey. One such beneficiary is GEO Group, which ironically was founded by a Greek migrant.
Mar-a-Lago
Last October, GEO Group held its annual conference at President Trump's Mar-a-Lago resort in Florida, which has done very well indeed since the inauguration. Membership fees have been hiked and business is excellent. last year, profits were up almost 30% compared to 2016.
CoreCivic
Another private prison operator that stands to cash in on President Trump's zero tolerance border policy is CoreCivic. Headquartered in Nashville, it has seen its share price surge during the past couple of months. This image shows protestors outside a CoreCivic facility in San Diego.
Correct Care Solutions
Correct Care Solutions, which is also based in Nashville, provides healthcare services at migrant detention centres. As you can probably guess, business is brisk due to the Trump administration's uncompromising border policy.
Nash Holdings
Like The New York Times, The Washington Post, which is owned by Jeff Bezos' Nash Holdings, has increased in popularity since President Trump entered the White House. Last year, the number of paid digital subscribers passed the million mark and sales of the print edition have been buoyant.
Turista Libre Mexico
President Trump's border wall is yet to be built, but the prototypes have fuelled something of a mini tourism boom. Tijuana company Turista Libre Mexico, for instance, charges $56 per person for a tour of the dummy walls. To date, more than 10,000 people have taken the trip.
Southwest Key Programs
Making money from the Trump administration's tough immigration policy, this Austin-based company has secured at least $458 million in federal funding this year. The funds are spent on care for more than 1,600 migrant children at its facilities in Arizona, California and Texas.
Condé Nast
Vanity Fair, which is published by Condé Nast, enjoyed a huge increase in subscribers after the magazine featured a scathing review back in December 2016 of the Trump Grill in New York. It described the steakhouse as potentially “the worst restaurant in America”.
United Rentals
America's largest construction equipment hire company reported a 25% increase in revenues for the first quarter of 2018. It is expected to make a killing as a result of the Trump administration's mega infrastructure overhaul.
Citigroup
Yet another financial institution that is benefiting hugely from President Trump's corporate tax bonanza, Citigroup announced impressive profits of $4.6 billion for the first quarter, the highest in nearly three years.
Home Depot
One of the few retailers that is booming right now, Home Depot has been on a roll since President Trump assumed office. The chain's stock has risen 47% since early 2017 and profits, which have been helped along by the government's corporate tax cut, are super-healthy.
Foxconn
As well as American firms, a number of foreign companies are reaping rewards courtesy of President Trump. Taiwanese tech company Foxconn, which makes iPhones for Apple, has bagged a $3 billion incentive package in exchange for building a major plant in Wisconsin.
Uralasbest
Russian asbestos producer Uralasbest is stamping pallets of the cancer-causing substance with an image of President Trump. This follows the US Environmental Protection Agency's recent decision not to impose a blanket ban. Uralasbest is set to profit considerably from the decision.
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