讀後心得

After the implementation of Trump's tariff policy, high-tech companies, importers, and local restaurants have been severely impacted, with the stock market plummeting. Investors and consumers are suffering due to rising prices. The San Francisco Chronicle mentioned that the CEO of the home goods retailer "Fix-It Hardware," Friedman, exclaimed after the stock price drop, as the stock plummeted 40% on the 3rd. Since the COVID-19 pandemic, the U.S. stock market has faced the largest decline, with the Nasdaq index and Apple's stock price significantly dropping, leading to substantial evaporation of market value. The restaurant industry is also under pressure due to high costs; Cleary from the Golden Gate Restaurant Association pointed out that the new tariffs will further affect thin profit margins. Restaurant owner Rob Lam is keeping in touch with suppliers to address rising prices, while the owner of 606 Cafe, Li, is seeking to stabilize import prices. South Korean grocery stores are still evaluating the impact of the new tariffs.

As soon as Trump's tariff policy was announced, high-tech giants, importers, and even local restaurants were heavily impacted. Stockholders were affected, and non-investors also suffered from soaring prices, with some even cursing as a result. According to reports, the CEO of "Repair Hardware" exclaimed "Oh, shit!" after randomly checking his company's stock price following the market close on the afternoon of the 2nd. The following day, on the 3rd, the stock price plummeted by 40%, marking the worst day for the company since its public listing. This household goods retailer derives 72% of its product sales from Asian countries. The U.S. stock market experienced its largest drop since the outbreak of the COVID-19 pandemic on the 3rd, with the tech-heavy Nasdaq falling by 6%, and then dropping another 5.7% on the 4th. Apple's stock price fell by 9% and 7.4% over the two days, resulting in a market capitalization loss of $400 billion. Nvidia also saw declines of 7.8% and 7.3%, similarly losing $400 billion. Even smaller companies are expected to face significant cost increases.

The restaurant industry has already been coping with the challenges of high labor costs and rising food prices, and the new tariffs may further impact the already thin profit margins. A representative from the Golden Gate Restaurant Association mentioned, "Any move to increase costs again will undoubtedly create real financial pressure. Our profit margins are already getting lower, and we cannot afford further cost increases, which will bring tremendous economic stress to restaurants." The chef of a modern Vietnamese noodle shop located in Richmond stated that he is preparing to handle the impending shock. After the announcement of a 46% tariff on Vietnamese products on Wednesday, he immediately contacted suppliers to mitigate anticipated price increases. He emphasized, "I don’t want customers to feel that things are too expensive. As a business owner, we must deal with these challenges, but customers often do not see these difficulties."

The owner of 606 Cafe in San Francisco's Chinatown imports various ingredients from local grocery stores, which are already facing a 10% tariff and will now encounter a new 20% tariff. He regularly communicates with suppliers to manage rising prices, and the impact is currently not yet apparent. It remains unclear when consumers will start paying more at local grocery stores for their favorite Asian imported products. A spokesperson for a newly opened grocery store in South Korea stated that they are still studying the effects of a 25% tariff on South Korean imported goods and how to maintain price stability.