Silver Rises Over 120% YTD 
President Trump clarified that smartphones and electronics are not exempt from tariffs on Chinese imports, but merely moved to a different “tariff bucket.”
He plans to launch a national security investigation into semiconductors and the electronics supply chain.
Despite a temporary 90-day exemption announced Friday, Commerce Secretary Lutnick confirmed that critical technology products will face new duties within two months.
The trade tensions have caused significant market volatility, with the S&P 500 down over 10% since Trump took office.
