Tariff war already started and now in furious state. Trump said would levy 25% on steel of EU, but it is only the first step.
Mind the Congress Hearing of Powell and CPI.
Stocks are rebounding, no need to chase high. There will be a lot of items on tariff, but the core is on semiconductor. So better wait for the action on chips, of Taiwan, Japan and South Korea, it will be much more important than steel. See how the tariff would affect TSM, NVDA. These two are most important.
Nowadays not only high tech products need chips, even household products like refrigerator, washing machine and rice-cooker also need chips, increase in the cost would not affect TSM and NVDA so directly, but ultimately it would affect the general public and lead to inflation.