Tenaris Stock And Argentina Export Names Gaining From U.S. Tariff Relief

Argentina’s exporters just received a rare tailwind, with crude oil, beef, aluminum, and precious metals all exempt from the latest round of U.S. tariffs. That policy, backed by the new Argentina U.S. Trade and Investment Agreement, gives select Argentine stocks a relative cost edge in one of their most important markets. For investors watching trade driven opportunities rather than short term headlines, this is a moment to pay attention. Below, you will find 3 stocks exposed to this news, along with a clear look at how U.S. tariff exemptions could shape their risk and reward profile.

Grupo Supervielle (BASE:SUPV)

Overview: Grupo Supervielle is an Argentine financial services group that offers everyday banking, loans, cards, insurance, investments, and brokerage services to individuals, small and medium businesses, and corporates through both physical branches and digital channels.

Operations: Grupo Supervielle generates most of its revenue from Personal and Business Banking (about ARS 305.9b), followed by Treasury (about ARS 173.6b), Corporate Banking (about ARS 120.0b), FCI Administration and other segments (about ARS 111.9b), and Insurance (about ARS 30.4b), with small unallocated adjustments.

Market Cap: ARS 1.35t

Grupo Supervielle sits at the crossroads of Argentina’s export story and its financial system, which is why this tariff relief backdrop matters. A large retail and SME franchise, growing digital channels like its online broker, and a forecast return to profitability with fast revenue growth put it on many investors’ watchlists. At the same time, a high level of bad loans, recent net losses, and a volatile share price underline that this is not a low risk bank. The key question is whether exposure to exporters, capital markets activity, and cross selling between banking and brokerage can outweigh credit quality and macro risks as Argentina’s trade with the U.S. deepens.

Grupo Supervielle’s turnaround story hinges on whether export exposed clients and capital markets activity can offset bad loans and recent losses, and the 1 key reward and 2 important warning signs (1 is major!) could reveal what is quietly tipping that balance.

Tenaris (BIT:TEN)

Overview: Tenaris is a global supplier of steel pipes and related services used across the energy industry, providing the tubing, casing, and line pipe that oil and gas producers need to drill wells and move hydrocarbons, along with products for high pressure industrial uses such as power plants, autos, and construction.

Operations: Tenaris generates the bulk of its revenue from its Tubes segment at about $11.6b, with the remaining $593m from Other activities.

Market Cap: €25.8b

Tenaris sits at the heart of Argentina’s export story through its steel pipe operations. Tariff relief into the U.S. could make its Argentine exports more cost competitive just as large offshore and pipeline projects, from Vaca Muerta to Suriname’s GranMorgu field, rely on its premium products and Rig Direct service model. The stock trades on a P/E below some peers and below Simply Wall St’s own cash flow estimate. Investors still have to weigh modest forecast revenue growth and an unstable dividend record against a history of buybacks, a strong margin profile, and customer exposure to regions with political and financing risk. The key consideration is how that trade off looks when tariff pressures and Argentina’s energy build out are factored in.

Tenaris’ tariff edge, offshore exposure, and P/E below some peers hint that the real story is how the risk reward stacks up once you see the full 2 key rewards and 1 important warning sign

Aluar Aluminio ArgentinoI.C (BASE:ALUA)

Overview: Aluar Aluminio ArgentinoI.C is Argentina’s main aluminum producer, supplying basic products like ingots and wire rods as well as higher value profiles, tubes, laminates, foils, and zincalum to customers at home and overseas, while also operating energy generation and engineering services.

Operations: Aluar Aluminio ArgentinoI.C generates most of its revenue from its Primary Division aluminum production at about ARS 1.83b, with additional contributions from Manufactured Products at about ARS 86.2m, Energy generation at about ARS 45.7m, and Engineering, Construction and Industrial Assembly at about ARS 10.2m.

Market Cap: ARS 2.75b

Investors looking at Aluar Aluminio ArgentinoI.C are gaining exposure to Argentina’s aluminum exports at a time when U.S. tariff exemptions keep its products competitive in a key market. Reported results show Q3 2026 net income at ARS 119,390.07m and basic EPS at ARS 42.61, and the stock is indicated as trading about 36% below Simply Wall St’s fair value estimate. At the same time, a P/E of 29.8x versus a Metals & Mining peer average of 13.5x raises questions about how much is already reflected in the share price, and governance factors such as a board with no independent directors add another layer of risk. The key consideration for investors is how these export conditions and reported earnings figures compare with the valuation metrics and governance profile when assessing the company in more detail.

Aluar Aluminio ArgentinoI.C sits at the intersection of tariff relief, export pricing power, and a 29.8x P/E that seems out of step with peers. Before assuming the premium is fully explained, review the analysis report for Aluar Aluminio ArgentinoI.C

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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.

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