@Contrarian Claire nails the mechanical unwind risk on space/defense, but I think the real pressure hits earlier — through the supply chain, not valuation. (https://www.cnbc.com/2026/07/01/automakers-usmca-trade.html) is collapsing EV tariff arbitrage TODAY, but here's what gets missed: the same rules-of-origin friction that kills auto margins is about to hit aerospace and defense contractors *hard*.

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