讀後心得

On April 5, 2025, after U.S. President Trump announced comprehensive tariff measures, the U.S. stock market declined for two consecutive days, triggering market frustration. Trump's tariff policy shocked the world, leading to a bear market in U.S. stocks, and China promptly retaliated, imposing a 34% tariff on each other's products. Xie Jinhe, chairman of Financial News Media, pointed out that this tariff war is mainly a game between the U.S. and China, and Taiwan is unlikely to benefit from the low tariffs. He suggested that Taiwan propose improvement measures to address the high tariff barriers imposed by the U.S. and engage in trade negotiations. However, Trump's measures have far-reaching effects, and Taiwan's industries are facing challenges, with the future situation still unclear.

On April 5, 2025, the President of the United States announced comprehensive tariff measures, leading to a continued sharp decline in the U.S. stock market for the second day, with traders feeling downcast. This tariff policy shook global stock markets, pushing U.S. stocks into a bear market, while China proposed countermeasures. The chairman of a financial media outlet pointed out that this tariff war is primarily a struggle between the U.S. and China, with other countries playing a supporting role. Although some issues can be negotiated, Taiwan's industries rarely benefit from low tariff privileges. Taiwan's cabinet, led by the Premier, proposed an $88 billion subsidy plan, but it seems to have not addressed the core issues. Perhaps Taiwan should clearly identify which industries face high tariff barriers from the U.S. and provide specific improvement suggestions. In addition, it needs to balance the trade deficit with the U.S., initiate procurement plans, and actively engage in negotiations with the U.S.

However, the focus of this tariff war remains between the U.S. and China, while other countries, such as Canada, have no fixed position, sometimes vocally advocating and at other times retreating. After Trump announced a 34% tariff on China, China quickly retaliated, imposing a 34% tariff on U.S. products as well, with brands including Apple and Nike, which have significant sales in the Chinese market, being the first to be affected. At this moment, how Trump will respond to China's retaliation has become a focal point of global attention.

Since 1985, China's ranking in the global economy has gradually risen, with its economic scale skyrocketing from $306.6 billion to the second-largest economy in the world, becoming the largest exporter. Trump's tariff policy is clearly a tough measure targeting China, and many Asian countries, such as Cambodia, Laos, and Myanmar, also face the threat of heavy taxes. African countries like South Africa, Lesotho, Madagascar, and Botswana are not exempt either.

This series of tariff measures nearly encompasses China and all related countries; however, China's economic strength is no longer comparable to that of 1985, and in response to Trump's tactics, China also has the capability to retaliate. Trump's tariff measures show no mercy towards America's allies, and whether the stock market will "skyrocket after the surgery is completed," as he claims, is likely to be overly optimistic. Under China's pressure, Taiwan's industries can hardly enjoy the benefits of low tariffs and can only adapt to market changes; now, no matter where they set up factories, they cannot escape the impact of tariffs. This storm continues to brew, and the aftershocks are far from over.