The Supreme Court may rule Wednesday on President Donald Trump’s tariffs, a decision that could be a boon for stocks hurt most by the levies, according to Wells Fargo. The firm has a “Tariff Relief Basket,” or a swath of mostly consumer and industrial stocks that are likely to get a boost if the International Emergency Economic Powers Act tariffs are repealed. Stocks in the basket are already rallying in the lead up to the Supreme Court’s upcoming hearing. Since the court’s Nov. 5 hearing, the group of stocks is up 15.8% — while the S & P 500 rose just 3%. “If overruled, we expect the administration to focus on quickly reinstating tariffs on China and strategic sectors but could let the tariffs on non-strategic sectors go,” Wells Fargo strategist Ohsung Kwon said Tuesday in a note to clients. Although the Supreme Court could punt again on Trump’s tariffs, much like it did last week, investors will be keeping a close eye on what happens this Wednesday. These are some of the names that could benefit from trade war relief. Nike The athleticwear company is likely to benefit from any potential measure that lifts the U.S. tariffs against its foreign trading partners. Last year, Nike hiked the costs of its apparel and footwear online, according to a CNBC analysis . The increases coincided with rising tariffs on goods made in Asia. Those tariff pressures came as Nike CEO Elliott Hill continued to push ahead with plans to turn around the retailer’s slumping sales, including by eradicating its heavy discounting strategies. Shares have fallen nearly 3% in the past three months. Caterpillar Caterpillar is another likely beneficiary of a potential repeal of Trump’s tariffs. Last August, the company reported that its quarterly profits suffered compared to the same period last year, largely due to the Trump administration’s levies increasing its manufacturing costs. In fact, its construction business’ profit fell 29% compared with the same period a year prior due to those difficulties, according to Caterpillar CEO Joseph Creed. “The incremental tariffs announced in 2025 and expected to be in place by August 7 will be a headwind to profitability during the remainder of the year,” Creed said in an earnings call with investors. Around that time, Morgan Stanley also downgraded the firm to underweight from equal weight, citing tariff pressures on the construction and engineering equipment maker. Despite the headwinds, shares are up 27% over the past three months.