China

The Supreme Court’s ruling narrowed presidential tariff authority but left Section 301 on China fully intact and, if anything, more politically durable. For the display industry, that resolves the uncertainty in the worst possible direction for anyone still hoping for a near-term unwind. Tariffs on China-origin display hardware are now a structural, model-worthy input. The routing questions, the sourcing questions, the capex questions, they all have to be answered in that light.