讀後心得

After the announcement of a comprehensive new tariff by U.S. President Trump, global stock markets plummeted sharply, with the S&P 500 index recording its worst performance since 2020, plummeting 4.8% in a single day. Major brands such as Nike and Apple saw their stock prices drop by more than 9%. The tariffs are expected to impact the economic growth of the U.S. and other countries, raising concerns about inflation. Trump claimed that this move would enhance American manufacturing and increase federal revenue; however, experts warned it could lead to an economic recession and emphasized the short-term negative effects of high import tariffs. Various global markets reacted negatively, and countries began to consider retaliatory measures.

The day after the U.S. president announced a comprehensive new tariff, global stock markets plummeted, signaling that tariffs would raise prices and potentially slow economic growth in the U.S. and globally. The S&P 500 index, which tracks the 500 largest companies in the U.S., fell by 4.8%, marking the worst single-day performance since the pandemic began in 2020. Earlier that day, financial markets from Asia to Europe showed signs of decline. Major consumer brands like Nike, Apple, and Target saw their stock prices drop by over 9%. At a press conference at the White House, the president stated that the U.S. economy would "prosper" and insisted on the decision to impose additional tariffs of at least 10% on imported goods, believing this would increase federal revenue and revitalize American manufacturing.

The Republican president has imposed high tariffs on products from dozens of countries, including trade partners China and the European Union. China and the EU will face tariffs up to 54% and 20%, respectively, with both nations indicating a retaliatory response. The French president has called for European companies to suspend investment in the U.S. Tariffs are taxes imposed on imported goods, and the plan announced by Trump on Wednesday will elevate these taxes to one of the highest levels in a century.

The World Trade Organization expressed "deep concern," predicting that trade volume could shrink by 1% this year due to this. Traders worry that tariffs could spark inflation and hinder economic development. On Friday morning, Japan's Nikkei 225 index fell by 2.7%, Australia's ASX 200 index dropped by 1.6%, and South Korea's composite index remained stable or slightly declined. Markets in China, Hong Kong, and Taiwan were closed for the Qingming Festival holiday. On Thursday, the S&P 500 index fell sharply by 4.8% due to tariff news, with a market value evaporating by approximately $2 trillion. The Dow Jones Industrial Average and the NASDAQ index also dropped about 4% and 6%, respectively. Concerns over the trade war have created ongoing selling pressure in U.S. stocks since mid-February, and on Thursday the UK FTSE 100 index also fell 1.5%, in line with other markets.

Trump's new tariff policy aims to reverse the U.S.-led global trade liberalization order, yet market reactions have been quite severe. On Thursday, Trump signed an executive order at the White House, emphasizing the long-term benefits of this move for the U.S. economy, saying, "This is an important change," and predicting economic prosperity as a result. However, the White House's statements slightly contradicted Trump's, with the former stressing that the new tariffs are not a negotiation tactic, while Trump hinted at possible negotiations with trade partners.

The Canadian Prime Minister stated that Canada would impose a 25% retaliatory tariff on automobiles imported from the U.S. Trump had previously levied a 25% tariff on Canada and Mexico, and no new tariffs have been imposed on the two North American trade partners in recent announcements. With a 100% tariff imposed on Taiwanese chips, companies must consider whether to absorb costs in collaboration with consumers or pass the costs onto consumers. It is estimated that this will have a significant impact on consumer spending and the economy, especially as U.S. consumer spending accounts for 10% to 15% of the global economy.

Despite the market decline, gold prices, considered a safe-haven asset, briefly reached an all-time high, while other major currencies weakened against the dollar. Analysts predict that these tariffs could lower European economic growth by nearly one percent, and if the EU retaliates further, the effects could be more profound. Chief strategists warn that if the U.S. does not undertake other reforms, a recession could occur, and Trump's manufacturing revival plan will take years to realize.

With the implementation of the tariff policy, automaker Stellantis announced that its factories in Mexico and Canada would temporarily halt production, affecting approximately 900 workers. On the stock market, Nike's stock price plummeted by 14% due to the impact of this policy, and Apple's stock price also dropped by 9%. Other retailers like Target fell by about 10%, and motorcycle manufacturer Harley-Davidson faced a decline in stock prices due to the EU's retaliatory tariffs. The stock price of sportswear brand Adidas fell by more than 10%, showing the extensive economic repercussions of these policies.

Experts analyze that these tariffs, once effective, will profoundly affect retailers and the consumer market, and more unstable factors will emerge in the future.