Tom Yeung here with today’s Smart Money.

Do you remember what happened on March 1, 2018?

James Hackett probably does.

On that day, the then-CEO of Ford Motor Co. (F) saw President Donald Trump announce a sweeping round of tariffs targeting steel (25% duties) and aluminum (10%) – two of the most essential raw materials for automakers.

Over the following year, Hackett saw his company lose a fifth of its stock value – driven by a $750 million loss from tariffs and another $1.1 billion from broadly higher commodity prices. Many other importers saw even steeper declines.

But to most investors, March 1, 2018, was relatively unremarkable. The broader S&P 500 would rise 5% over the next 12 months, and high-quality tech stocks like Salesforce Inc. (CRM) and Intuit Inc. (INTU) and Advanced Micro Devices (AMD) would rise 20% … 50%… even 100%.

That’s because top companies can perform well despite interference from the top.

These innovative firms make products that are so essential that no amount of trade wars or late-night presidential tweets can seem to derail them.

Fast forward to today, and we’re watching history rhyme.

Trump has returned to the White House, and tariffs are back on the table – this time in even bigger and broader forms. On Tuesday, tariffs on Chinese goods rose another 10%, while certain non-exempt goods from Canada and Mexico saw a 25% hike. (Yes, things have shifted since then, and they probably will again tomorrow.)

Predictably, the headlines are full of doom and gloom. But for investors, there’s little reason to lose sleep over tariffs – just like in 2018.

That’s because the most successful stock market stories of the next decade will have very little to do with Chinese imports, steel prices, or even the cost of eggs.

Instead, they’ll be about companies that are reimagining the very foundations of our economy, and the ones that have discovered products so desirable that customers will put aside their economic fears to savor those products.

So, in today’s Smart Money, I’ll share more about the industries and companies driving the next decade of wealth creation.

And, most importantly, where you can find them.

Desirable Industries and Desirable Products

Consider artificial intelligence. It’s no secret that this industry has already changed the market landscape… and will continue to change that of our economy.

Over the next five years, global spending on AI will surge to $800 billion, growing at 30% annually.

Companies pioneering the infrastructure of AI – from Nvidia Corp. (NVDA) with its specialized GPUs to OpenAI and DeepSeek with their groundbreaking language models – will drive productivity gains that dwarf the cost increases that tariffs cause.

That’s not just a theoretical argument. It’s already happening.

Over the past year, U.S. companies added over 160,000 AI-related job postings, even as they slashed positions in older sectors like retail and legacy manufacturing. It’s becoming harder to get through the day without encountering AI. At this point, it’s safe to say that most of us have encountered an AI-powered customer service chatbot.

And the story goes beyond AI.

In 2018, Salesforce, Intuit, and AMD thrived not because they were immune to tariffs, but because their core products – software solutions, financial technology, and advanced semiconductors – were too valuable for businesses and consumers to ignore.

That pattern will only accelerate in 2025 and beyond. Many companies around the world will panic over the next four years as they worry about what Donald Trump will do next.

But firms that make irresistibly desirable products will steam right ahead.

One of our favorite picks in this category is Dutch Bros Inc. (BROS), a drive-through coffee shop chain with a cultlike fanbase. Customers often drive for miles to get to a Dutch Bros location… and some rabid fans have even tattooed the company’s name and logo on themselves.

That’s dedication.

In fact, this Oregon-based company has proved so popular that it’s having no trouble spreading across America. In 2024, the firm opened 151 new stores in 18 states, helping drive a 35% surge in revenues. And they’re planning to open another 160 stores this year.

Eric added the company to the Fry’s Investment Report portfolio last August, and since then shares of this firm have risen 90%.

Incredibly, one-third of that growth has happened within the past two months… after President Trump first floated tariffs.

At Fry’s Investment Report, Eric remains focused on the megatrends that will outlive the tariff noise, and the companies set to prosper within them.

Here’s why this approach is so important…

Ignore the Noise, Focus on the Megatrends

If history teaches us anything, it’s that politics makes headlines – but great products make fortunes.

Investors who panicked over the 2018 tariffs and pulled money out of the market missed out on a golden era for tech stocks. Those who instead focused on transformative trends – cloud computing, mobile software, e-commerce – saw their portfolios surge.

The same principle applies today.

The 2025 Trump tariffs will make noise, but they won’t change the fundamental trajectory of industries driving the next decade of wealth creation.

Semiconductors, AI,  next-generation energy, and advanced healthcare – those sectors will generate trillions in new economic value, completely independent of tariff rates. In addition, some select firms in traditional sectors are also going to succeed, even as rivals stumble.

Of course, there will be pain ahead for those on the wrong side of the trade war. To refer back to Ford, shares of the automaker are down 6% since Trump took office in January, and more losses could be on the horizon.

But let’s not forget the big picture: Many innovative firms are still doing incredibly well, and that’s always what matters in the end.

To learn more about the companies that will continue to weather the tariff storm, click here to become a member of Fry’s Investment Report today.

Getting Prepped for Nvidia’s “Q Day”

My colleague, the Wall Street legend Louis Navellier, certainly isn’t letting the tariff headwinds distract him from the AI boom.

As the AI megatrend quickly evolves, Louis will tell anyone who’ll listen, Nvidia has maintained its king status. And now he is telling us that on March 20, during the company’s first ever “Q Day,” Nvidia may announce a new breakthrough technology that is poised to ignite the next phase of the AI supercycle… and affect nearly every aspect of our lives.

But according to Louis, the media is missing out on the most important part of the story: One tiny small-cap company is positioned to be crucial to Nvidia’s AI reveal, thanks to its technology protected 102 patents.

So, on Thursday, March 13, at 1 p.m. Eastern, he’s holding a special time-sensitive briefing to get you ahead of the news (reserve your spot for this free broadcast by going here). Instead of buying Nvidia now, Louis will reveal six alternative stocks set to benefit from this AI breakthrough – including the one small-cap company that could deliver 10X to 50X gains.

Click here to sign up for the free event.

Regards,

Tom Yeung

Markets Analyst, InvestorPlace