Companies and investors race to mitigate Trump tariff risk. How one iconic firm is adjusting

When Donald Trump clinched a decisive victory in the 2024 presidential election last month, Stanley Black & Decker executives knew they had a problem on their hands. In fact, as soon as the results were known, the tool company began having conversations with key channel partners on what to do next, CFO Patrick Hallinan said at an industry conference last week. Wall Street was also alarmed. The day after the Nov. 5 election, Club stock Stanley Black & Decker declined nearly 2%.

Stanley Black & Decker power drills are displayed for sale at a Home Depot store in Colma, California.

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