India, April 29 -- After weeks of whiplash - blanket "reciprocal" duties on April 2, a 90-day pause on April 9, China-specific rates raised to 145% on April 10 (though President Donald Trump indicated that he may reverse course), and a blanket exemption for most electronic goods on April 11 - tariff chatter has come down a bit from its peak, but AI developers, chipmakers, and the market are still waiting for more shoes to drop.

For the AI world, the looming worry is a planned tariff package on chips and the electronics that house them. In February, President Trump said semiconductor tariffs could start around 25%, and "go very substantially higher over a course of a year."

On April 14, the administration launched its initial investigati...