讀後心得

Recently, Trump was seen flipping through reports about China in the New York Post and announced on Saturday that he would impose a 10% tariff on all imported goods. He called on the American people to "never compromise" during economic fluctuations. This policy affects over a hundred countries, and China responded with retaliatory tariffs, leading to a sharp decline in global stock markets, particularly with US stocks dropping over 5%. As protests unfolded in various parts of the United States, Trump referred to this as an "economic revolution" and predicted that they would ultimately prevail. However, his tariff policy has also triggered significant impacts on global supply chains.

Trump was photographed holding a copy of the Saturday edition of the New York Post, seemingly reading an article titled "China: Really? Try These Tariffs." Starting Saturday, the United States imposed a 10% "baseline tariff" on all imported goods, with Trump urging the American public to "never back down" amidst market turmoil. Over a hundred countries are affected by this measure, including the United Kingdom and France, whose leaders have stated that no options for action are off the table. China, severely impacted by the tariffs, announced large-scale retaliatory measures.

The three major U.S. stock indices continued to plummet on Friday, each falling more than 5%, with the S&P 500 index down nearly 6%, marking the worst week for U.S. stocks since 2020. In Washington D.C., New York, and other cities, thousands of people took to the streets to protest a range of Trump administration policies, from economic issues to government spending cuts. Trump described the market turmoil as an "economic revolution" and emphasized that the U.S. "will prevail." He posted on social media: "No compromise, it's not easy, but the end result will be historic." His policy reforms have significantly impacted global supply chains.

In the UK, the FTSE 100 index dropped nearly 5%, marking the largest drop in five years; Asian markets also declined, and stock exchanges in Germany and France faced similar challenges. Billionaire Musk, a close ally of Trump and currently in charge of the U.S. "Department of Government Efficiency," stated that the U.S. and Europe might move towards a "zero-tariff" situation, thereby creating a "free trade area between Europe and North America." Musk made these comments en route to meet with Italian government ministers. A few days later, the Trump administration is expected to impose tariffs of up to 50% on countries with the "worst" trade imbalances with the U.S., while the EU plans to levy 20% tariffs.

During his first presidential term, Trump disparaged the negotiations for the Transatlantic Trade and Investment Partnership (TTIP) with the EU; in 2018, after Trump withdrew the threat of tariffs on European cars, the escalating trade war temporarily cooled. UK Prime Minister Rishi Sunak spoke with several world leaders immediately after Trump announced tariffs on Wednesday. Downing Street released a statement following Sunak's call with the French president, stating that both sides "agreed that a trade war is not in anyone’s interest, but no options should be ruled out." Sunak and the French president expressed concerns about the impact on the global economy and security, especially in Southeast Asia.

As the world's second-largest economy, China is hit hardest by Trump's implementation of "reciprocal tariffs" on countries deemed unfriendly. On Friday, Beijing announced a 34% retaliatory tariff on U.S. goods, matching the tariffs imposed by Washington on Chinese products, and simultaneously filed a complaint with the World Trade Organization. The next day, China's Ministry of Foreign Affairs issued a statement urging Washington to "stop weaponizing tariffs to suppress China’s economic and trade development, and stop harming the legitimate development rights of the Chinese people."

On Saturday, approximately 1,200 protests are expected to take place across Washington, D.C. and nationwide, marking the largest wave of single-day protests against Trump and Musk since the White House announced changes to how the U.S. government would be led. The White House has yet to comment on this wave of protests, but a photographer not in the official press corps captured Trump holding a New York Post, flipping through an article about China. Since the implementation of tariffs, the impact on trade has been evident, with the UK's "Jaguar Land Rover" announcing it will "pause" all shipments to the U.S. to "adapt to new trade terms." The U.S.-China trade war appears irreconcilable, with analysts suggesting that Trump's tariff policies might diverge from the pillars of U.S. economic prosperity, with potentially chaotic consequences. Whether Trump’s high tariffs on several Asian countries are establishing a "defensive perimeter" against China remains to be seen.

U.S. "Liberation Day": Trump announced a historic new tariff plan, with total tariffs on Chinese goods reaching as high as 54%. Trump hit the nuclear button on the tariff war, imposing a 10% tax on all imported goods, with even higher rates on countries like China that are deemed "seriously violating." Trump's tariff policies could severely impact Hong Kong and Taiwan, with hopes that "necessary evils" could lead to a rebirth of American industry.