tariffs

Summary * Trump’s aggressive tariff agenda is creating strategic optionality for the U.S. — leverage for fair trade or a catalyst for reshoring. * Bessent’s capital shift from equities to bonds may pressure tech in the short term but could lower yields and boost valuations long term. * U.S. reindustrialization and deregulation are setting the stage for hardware-software convergence, with OT security and defense tech emerging as key themes. Repricing the Global Order: Tech in the Age of Tar