Taylor Swift & Ice Spice Releasing Duet After Matty Healy Insulted the Rapper

Taylor Swift is teaming up with Ice Spice for an all-new collab ... but the new project just so happens to come on the heels of her boyfriend, Matty Healy's insults aimed at the rapper.

T-Swift made the announcement via Twitter, Wednesday ... saying, "Um. SO much to tell you. I’m a massive fan of this brilliant artist and after getting to know her I can confirm: she is THE ONE to watch."

"So delighted to say that 'Karma' Featuring the incredible @icespicee_ will be out TOMORROW night at MIDNIGHT ET as a part of the new Midnights (Til Dawn Edition) deluxe album that you can pre-order now" ... she also told fans about a few other projects she has up her sleeves.

However, the Ice Spice project couldn't be more awkwardly -- or, perhaps purposely -- timed ... considering her boo Matty recently came under fire for dissing the "Munch" rapper.

ICYMI, in Feb, The 1975 frontman went on the "The Adam Friedland Show," where Nick Mullen, Friedland and Matty made derogatory comments about the rapper while also mocking Chinese and Hawaiian accents. That clip recently resurfaced online ... along with a clip of Ice expressing her love for The 1975 band, in a separate interview.

Matty wound up apologizing, last month, for offending her but some fans felt the apology was lackluster. The episode was also scrubbed on several platforms.

As you know, Taylor and Matty have been inseparable ... after news got out she broke up with her longtime boyfriend Joe Alwyn.

We know Tay and Ice had at least one special moment together... with IS introducing her "Song of the Year" win for "Anti-Hero" at the iHeart Awards back in March and the two posing for photos together.