讀後心得

Trump, holding the New York Post, read an article about China, announcing a 10% baseline tariff on all imported goods and calling for no compromise. Under this measure, over a hundred countries around the world are affected, with China being the hardest hit, announcing retaliatory tariffs. U.S. stocks continue to plummet, and the public has taken to the streets to protest Trump's policies. Musk predicts a potential scenario of zero tariffs, while Trump plans to impose tariffs as high as 50% on countries with trade imbalances. Protests are expected to spread across the United States, highlighting the economic impact of the tariff policy.

Trump was photographed holding a Saturday copy of the New York Post, seemingly reading an article about China titled: "China: Really? Try These Tariffs." The U.S. has imposed a 10% "baseline tariff" on all imported goods starting Saturday, and Trump has urged Americans not to "compromise" during this period of market volatility. More than a hundred countries, including the UK and France, are affected by this policy, with leaders from both countries stating that no response measures are off the table. China, being the most severely affected country, has since announced large-scale retaliatory measures.

The three major U.S. stock indices continued to decline on Friday, each dropping more than 5%, with the S&P 500 index falling 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 Trump's government policies, which involve economic measures and government spending cuts. Trump described the market turmoil as an "economic revolution" and stated that the U.S. "will prevail." He posted on social media: "No compromise, it’s not easy, but the end result will be historic." These policy reforms have caused significant impacts on global supply chains.

The FTSE 100 index in the UK fell nearly 5%, marking its largest decline in five years, while Asian markets and stock markets in Germany and France also experienced similar drops. Musk, as a close ally of Trump, predicted that the U.S. and Europe could achieve a "zero tariff" situation and establish a "free trade area between Europe and North America." He made these remarks while en route to Italy to meet with government ministers.

The Trump administration is expected to impose tariffs as high as 50% on the countries with the most severe trade imbalances with the U.S. by April 9, with the EU also facing a 20% tariff threat. During Trump's first term, he showed disdain for the Transatlantic Trade and Investment Partnership (TTIP) negotiations with the EU. In 2018, when he withdrew the threat of tariffs on European cars, the escalating trade war temporarily cooled down.

After Trump announced the tariff policy, the UK Prime Minister promptly spoke with multiple world leaders and issued a statement indicating that both sides "agree that a trade war is not in anyone's interest, but no options should be off the table." Prime Minister Boris Johnson and French President Macron expressed concerns about the impact on the global economy and security, especially in Southeast Asia.

As the world's second-largest economy, China suffered the most when Trump implemented "reciprocal tariffs" against countries he deemed unfriendly. On Friday, Beijing announced a 34% retaliatory tariff on U.S. goods, matching the tariff rate imposed by Washington on Chinese products, and filed a complaint with the World Trade Organization. Following this, the Chinese foreign ministry urged Washington to "stop wielding tariffs as a weapon to suppress China’s economic and trade activities and halt harming the legitimate development rights of the Chinese people."

On Saturday, approximately 1,200 protests are expected to take place in Washington D.C. and across the United States, marking the largest single-day protest against Trump and Musk since the White House announced changes in how the U.S. government is led. The White House has yet to comment on this wave of protests, and Trump's New York Post was photographed, indicating his awareness of the reporting on China.

Since the imposition of tariffs, their impact on trade has been evident. In the UK, Jaguar Land Rover announced a "pause" on all shipments to the U.S. in response to new trade terms. At present, both the U.S. and China are unwilling to back down in their trade war, which could lead to chaotic consequences. While imposing high tariffs on several Asian countries, Trump is also establishing a "positive defensive line" against China.