Sauté the onion: Heat the oil in a large pot over medium heat and add the diced onion. Cook until soft and translucent, about 5 minutes, stirring occasionally.
Add garlic and spices: Stir in the minced garlic, chili powder and cumin, and cook for about 1 minute until fragrant. This step builds the deep, smoky flavor of the broth.
Add broth and tomatoes: Pour in the chicken broth and fire-roasted tomatoes, scraping up any browned bits from the bottom of the pot. Bring the mixture to a gentle simmer.
Simmer the chicken: Add the raw chicken breasts directly into the simmering broth. Cook for about 20 minutes, or until the chicken is cooked through and shreds easily with a fork.
Shred the chicken: Remove the chicken breasts from the pot and shred them with two forks while still warm. This makes shredding faster and keeps the chicken tender.
Return chicken to pot: Add the shredded chicken back into the broth along with the black beans and corn. Simmer for another 5 minutes so the flavors combine.
Fry the tortilla strips: While the soup simmers, heat about 1/2 inch of oil in a skillet over medium heat and fry the tortilla strips in batches until golden and curled, about 2 minutes per side. Drain on paper towels.
Or bake the strips: For a lighter option, toss the tortilla strips with a little oil and bake at 400°F for about 10 minutes, flipping once, until crisp.
Season to taste: Taste the soup and add salt and black pepper as needed. Keep in mind the broth and tomatoes already carry some sodium.
Serve and top: Ladle the soup into bowls and top generously with the crispy tortilla strips, a squeeze of lime and chopped cilantro. Serve immediately while the strips are still crunchy.