讀後心得

On April 2, Trump announced that a 10% tariff would be imposed on all imported goods, along with reciprocal taxes on specific trade partners. This policy has triggered turmoil in financial markets and heightened concerns about a potential recession in the U.S. More than 50 affected countries have proactively requested negotiations with the United States. Additionally, the U.S. stock market and digital currency markets have also shown downward trends. Despite some Republican senators expressing concerns about the policy, the Trump administration emphasized that the tariffs are necessary and will be maintained. Countries are rushing to formulate countermeasures, with nations like China already taking retaliatory actions. Trump's tariff policy is seen as part of his campaign promises; however, it has also caused unease within Congress, where free trade ideals dominate.

The comprehensive import tax policy announced by Trump has led to severe fluctuations in financial markets, raising concerns about a recession in the U.S. economy and altering the global trade landscape.

On April 2nd, U.S. President Trump announced Eastern Time that a 10% baseline tariff would be imposed on all imported goods, along with higher reciprocal tax rates on specific trade partners. Senior U.S. government officials stated on April 6th that over 50 countries affected by Trump's tariff war have proactively contacted and requested negotiations.

According to reports, the 10% baseline tariff went into effect at 12:01 AM on April 5th, while differentiated reciprocal tariffs will take effect at 12:01 AM on April 9th. This policy marks the beginning of a new era of economic uncertainty, with little hope for a resolution in the short term.

U.S. Treasury Secretary Mnuchin emphasized that "unfair trade practices cannot be resolved in a short period," and stated that it is essential to assess whether the conditions proposed by other countries are credible. Following a weekend of market declines, Trump played golf in Florida and posted on social media saying, "We will win. Stay strong; this isn't easy."

Members of his cabinet and economic advisors publicly defended his tariff policy on April 6th, attempting to downplay the impact of the tariff war on the global economy. U.S. Secretary of Commerce Ross clearly stated that the upcoming tariffs will not be postponed, emphasizing that Trump needs to reshape the global trading order. Mnuchin also indicated that a recession is not inevitable, but market reactions still need close monitoring.

As the effects of the tariff policy continue, U.S. stock index futures saw declines on the evening of April 6th, with the Dow Jones Industrial Average and S&P 500 futures dropping nearly 4%, and Nasdaq futures falling nearly 5%. Even the relatively stable price of Bitcoin dropped nearly 6% on April 6th.

The tariff policy quickly announced by Trump on April 2nd was not approved by Congress and unilaterally rewrites global trade rules, fulfilling his core campaign promise. He has long accused foreign trade agreements of being unfair to the U.S. and gambled that voters would be willing to endure price increases on everyday goods to achieve his economic vision. Countries are urgently considering countermeasures, with nations like China taking retaliatory actions. White House chief economic advisor Kudlow acknowledged that other countries are "reacting angrily," while also revealing that "they have requested negotiations."

The new tariffs affect both U.S. allies and adversaries, including Israel, which will face a 17% tariff. Israeli Prime Minister Netanyahu plans to visit the White House on April 7th to hold a joint press conference with Trump, stating that the tariff issue will be discussed along with matters related to the Gaza War. Another ally, Vietnam, which is an important manufacturing hub, has engaged with the U.S. regarding tariff issues. Trump mentioned that Vietnamese leaders indicated they would be willing to reduce tariffs to zero if an agreement with the U.S. is reached.

Although Italian Prime Minister Meloni opposes the tariff policy, she stated that she is "ready to use necessary negotiation and economic measures to support potentially affected industries." In the Republican-controlled Congress, while there is support for the tariff policy, it has also raised significant concerns. Several Republican senators have advocated for a bipartisan bill requiring the president to justify the imposition of tariffs to Congress, which must approve within 60 days, otherwise the tariffs will automatically expire.

Republican Congressman Bacon from Nebraska stated he would introduce related legislation in the House, arguing to reclaim tariff authority to Congress, saying, "It was clearly a mistake to transfer some power to the executive branch." He candidly admitted that unless the financial market continues to react negatively and indicators such as inflation and unemployment worsen, the passage of the bill will face challenges.

Senate Republican leadership's number two, Wyoming Senator Barrasso, believes Trump is exercising legitimate authority but acknowledges that there is national concern and mentioned that people are closely monitoring market changes. Regarding the tariff issue, he stated the Senate will discuss it and will depend on the direction of the discussion results.

On the other hand, Trump's advisor Musk has remained silent on this policy, but he expressed hope for a "zero-tariff state" during his activities in Italy. The Tesla chief's comments sparked rebuke from White House trade advisor Navarro, who pointed out that Musk should focus on his business. "This is just instinctive behavior for entrepreneurs to protect their own interests."

The Democratic former Treasury Secretary criticized the contradictory signals from Trump's team, stating that on one hand, they claim to revitalize manufacturing while being open to trade negotiations on the other. He pointed out that simply reaching agreements on mutual tariff cancellations will not increase tax revenues or attract businesses back; if tariffs remain as a tax source and tool for industry repatriation, those tariffs will persist.