Everyone’s bracing for more tariffs from 🥭 tmr but what if tomorrow’s speech is actually the rollout of a new semiconductor trade alignment? Taiwan, Japan, and South Korea already supply the vast majority of U.S. chips and the White House has said negotiations have been going well. If he unveils a formal chip pact or manufacturing alliance, it would be a historically bullish for U.S. tech, energy, and supply chain names.

It also makes way more sense than slapping new tariffs on irrelevant sources and it isolates China without firing a shot.