讀後心得

Trump holds up the New York Post while flipping through articles about China, praising the announcement of its new policies. Starting from Saturday, the United States imposed a 10% tariff on all imported goods and urged the public to "never compromise" amid market fluctuations. Over a hundred countries are affected, especially China, which announced countermeasures by imposing a 34% tariff on American products. The U.S. stock market plummeted, and thousands protested against Trump's economic policies. Musk mentioned the possibility of a trade zone with "zero tariffs." Shi Jixian spoke with the French president, stating that the trade war is not in anyone's interest and expressed concern about the global economic impact. As Trump's tariff policy expands, the market reaction has been intense.

Trump was spotted holding a copy of Saturday's The New York Post, seemingly reading an article titled "China: Really? Try These Tariffs." The U.S. began imposing a 10% "baseline tariff" on all imported goods starting Saturday, and Trump urged the American public to "never compromise" during market turmoil. This measure affects over a hundred countries, including the UK and France, with leaders of both countries stating that no options are off the table. China, which is most affected by Trump's tariffs, announced a large-scale retaliatory measure.

The three major U.S. stock indices continued to decline on Friday, with losses exceeding 5%, and the S&P 500 index dropping nearly 6%, marking the worst week for U.S. stocks since 2020. In Washington, D.C., New York, and other cities, thousands took to the streets to protest a series of policies by the Trump administration, covering issues such as the economy and government spending cuts. Trump described the market turmoil as an "economic revolution" and stated that America "will prevail." He posted on social media, emphasizing "no compromise; it's not easy, but the end result will be historic." His policy reforms have had a significant impact on global supply chains.

In the UK, the FTSE 100 index fell nearly 5%, marking its largest drop in five years; Asian markets also declined, and stock markets in Germany and France faced tough downturns. Billionaires stated that the U.S. and Europe might move towards a "zero tariffs" scenario, potentially creating a "free trade zone between Europe and North America." He made these remarks on his way to meet with Italian government ministers. Days later, the Trump administration is expected to impose tariffs of up to 50% on countries deemed to have the "worst" trade imbalances with the U.S. The EU plans to impose tariffs of 20%.

During his first term, Trump expressed scorn for the Transatlantic Trade and Investment Partnership negotiations with the EU; in 2018, after Trump withdrew the threat of tariffs on European cars, an escalating trade war was temporarily eased. The UK Prime Minister immediately spoke with several world leaders after Trump announced the tariff policy on Wednesday. A statement from Downing Street following his call with the French President noted that both sides "believe that a trade war is not in anyone's interest, but no options should be excluded." They both expressed concerns about the impact on the global economy and security, particularly in Southeast Asia.

As the second-largest economy in the world, China is significantly affected by Trump's "reciprocal tariffs" targeting unfriendly countries. On Friday, Beijing announced a 34% retaliatory tariff on U.S. goods, matching the tariff rates imposed by Washington on Chinese products, while also filing a complaint with the World Trade Organization. The following day, the Chinese Ministry of Foreign Affairs issued a statement urging Washington to "stop weaponizing tariffs to suppress China’s trade and cease harming the legitimate development rights of the Chinese people."

On Saturday, approximately 1,200 protests are planned across Washington, D.C., and nationwide, marking the largest single-day protest against Trump and related policies since the White House announced changes to the way the U.S. government is led. The White House has not commented on this wave of protests, but a photographer not part of the official press corps captured Trump holding a copy of The New York Post, flipping through an article about China. The trade effects have already become apparent since the tariffs were implemented. In the UK, "Jaguar Land Rover" announced it would "pause" all shipments to the U.S. in response to the new trade terms.

Currently, both China and the U.S. are mutually restraining each other in the trade war, with no signs of either side backing down. Analysts suggest that the tariffs imposed by Trump may diverge from the original cornerstones of U.S. economic prosperity, likely leading to considerable chaos.