讀後心得

After Trump announced new tariffs on imported goods, global stock markets plummeted in response, with the S&P 500 index experiencing its worst single-day performance since 2020, falling by 4.8%. Major brand stocks such as Nike, Apple, and Target saw prices drop by more than 9%. Countries expressed potential retaliation against the new U.S. tariff policy, with the French president calling on companies to suspend investments in the U.S. The market is concerned that the tariffs will trigger inflation and slow down economic growth, with global trade volume projected to shrink by 1%. Trump claims the new policy will revive the U.S. economy, but analysts warn it could lead to a recession in the short term.

The day after U.S. President Trump announced the imposition of comprehensive new tariffs, global stock markets plummeted sharply amid expectations that these tariffs would drive up prices and slow down economic growth in the U.S. and other countries. The S&P 500 index, which tracks the 500 largest companies in the U.S., dropped 4.8%, marking the worst single-day performance since the COVID-19 pandemic began in 2020. On that day, financial markets from Asia to Europe generally declined. Major consumer brands such as Nike, Apple, and Target saw their stock prices tumble by over 9%. Trump stated to reporters at the White House that the U.S. economy would "prosper," emphasizing that the decision to impose at least a 10% tariff on imported goods would increase federal revenue and revitalize American manufacturing.

Trump imposed higher tariffs on goods from various countries, including China and the European Union, with tariffs as high as 54% and 20% respectively. Both parties announced retaliation on Thursday. The President of France called for European businesses to suspend their investment plans in the U.S. It is reported that tariffs are taxes levied on imported goods from other countries, and that the new plan announced by Trump on Wednesday would raise this rate to one of the highest levels in a century.

The World Trade Organization expressed deep concern, predicting that global trade volume might decrease by 1%. Traders worried that tariffs would lead to inflation and hinder economic growth. On Friday morning, Japan's Nikkei 225 index fell by 2.7%, and Australia's ASX 200 index dropped by 1.6%. The South Korean Composite Index remained flat or slightly down. During the Qingming Festival, markets in China, Hong Kong, and Taiwan were closed. On Thursday, the S&P 500 index fell by 4.8%, with a total market value reduction of about $2 trillion, while the Dow Jones Industrial Average and the Nasdaq indices declined by approximately 4% and 6% respectively. Since mid-February, the U.S. stock market has been experiencing a sell-off due to the trade war. Earlier, the UK's FTSE 100 index fell by 1.5%, with other European markets also declining, in line with the downward trends in Japan and Hong Kong markets. On the day the news was announced (April 3), Hong Kong's Hang Seng Index opened down by 560 points and closed with a drop of 1.52%. China's Shanghai Composite Index fell nearly 1% at open, closing down by 0.24%, while the Shenzhen Composite Index dropped by 1.4%.

The executive order signed by Trump on Thursday at the White House further strengthened the challenge to the global trading order. He stated, "I think everything is going very smoothly, like performing surgery on a patient, this is a big deal. I anticipated this happening." He added, "Markets will prosper, the stock market will prosper, and the country will prosper." However, the White House's stance contradicted Trump's statements, with the former insisting that the new tariffs are not a negotiation strategy, while the latter hinted at a possible desire to reach some agreement through negotiations. On Thursday, the Prime Minister of Canada announced that Canada would impose a 25% retaliatory tariff on cars imported from the U.S. Trump had previously imposed a 25% tariff on Canada and Mexico but did not take new measures against these two North American trade partners. Trump threatened to impose a 100% tariff on "Taiwan chips."

Businesses currently face an important choice: whether to absorb the cost of tariffs and share the risk with partners or to pass the costs on to consumers, which could lead to a decline in sales. Estimates suggest that this could have a significant impact on the market, as U.S. consumer spending accounts for about 10% to 15% of the global economy. Despite the stock market decline, gold reached a historic high of $3,167.57 per ounce as a safe-haven asset but later retreated. The U.S. dollar also weakened against several currencies. Analysts warned that if Trump fails to implement other measures to address these challenges, the domestic economy could face recession. "If he can revitalize manufacturing, it may take years."

On Thursday, Stellantis, the company that produces Jeep, Fiat, and other automotive brands, announced that its factories in Mexico and Canada would temporarily halt production in response to Trump's request for a 25% tariff on auto imports, which will lead to temporary layoffs of 900 workers at U.S. factories supplying these locations. In the stock market, Nike was one of the most affected components of the S&P index, seeing its stock price plunge by 14% due to most of its athletic apparel being produced in Asia. Apple's stock also declined by 9% due to its heavy reliance on China and Taiwan. Other retailers similarly suffered losses, with Target falling by about 10%. Motorcycle manufacturer Harley-Davidson was also affected, with its stock price down by 10%. In Europe, Adidas's stock dropped by over 10%, and Puma fell by more than 9%. Among luxury brands, the jewelry manufacturer Pandora dropped by more than 10%, while LVMH fell by more than 3% after tariffs were imposed on the EU and Switzerland.

Experts predict that due to the tariff impact becoming more pronounced in the future, retailers will face a challenging situation.