讀後心得

Recently, Trump was spotted holding a copy of the New York Post, reading an article titled "China: Really? Try These Tariffs." Starting Saturday, the U.S. has imposed a 10% baseline tariff on all imported goods, and Trump urged the public to "never compromise" in the face of market turmoil. This measure affects over a hundred countries worldwide, with leaders from both the UK and France indicating that further actions cannot be ruled out. China, which is hit the hardest, announced a 34% retaliatory tariff on U.S. goods and filed a complaint with the World Trade Organization. U.S. stocks continue to plummet due to the policy impact, and people are protesting Trump's economic policies in several locations, believing that these policies may lead to chaos and instability.

Trump was photographed holding a Saturday edition of the New York Post, seemingly reading a spread headline article: "China: Really? Try These Tariffs." The U.S. imposed a 10% "baseline tariff" on all imported goods starting last Saturday, and Trump urged the American public to "never back down" in the face of market turmoil. More than a hundred countries, including the UK and France, are affected by this measure, and leaders from both nations stated that no options are off the table. Meanwhile, China, which faces the most severe impact from Trump's tariffs, announced large-scale retaliatory countermeasures.

The three major U.S. stock indices continued to plummet last Friday, each dropping over 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 a series of policies from the Trump administration, including economic reforms and government spending cuts. Trump described the market turmoil as an "economic revolution," asserting that the U.S. "will prevail." He made statements on social media, saying, "Never back down; it's not easy, but the end result will be historic." His policy reforms have inflicted significant disruptions 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, while stock markets in Germany and France experienced similar downturns. Billionaires noted that the U.S. and Europe might move towards a "zero tariffs" scenario, potentially creating "a free trade area between Europe and North America." A few days later, the Trump administration is expected to impose tariffs of up to 50% on the countries with the "most severe" trade imbalances with the U.S. The EU plans to impose a 20% tariff.

During his first presidential term, Trump dismissed negotiations with the EU concerning the Transatlantic Trade and Investment Partnership. In 2018, after Trump withdrew the threat of increased tariffs on European cars, an escalating trade war temporarily de-escalated. After Trump announced the tariff policies on Wednesday, the UK Prime Minister immediately spoke with several world leaders, stating that both sides "agree that a trade war is not in anyone's interest, but no options should be excluded."

As the world's second-largest economy, China is hit hardest by Trump's implementation of "reciprocal tariffs." On Friday, Beijing announced a 34% retaliatory tariff on U.S. goods, matching the tariff rate that Washington applied to Chinese goods, and filed a complaint with the World Trade Organization. Subsequently, the Chinese Ministry of Foreign Affairs issued a statement urging Washington to "stop using tariffs as a weapon against China's trade, and to cease harming the legitimate development rights of the Chinese people."

On Saturday, around 1,200 protests are expected to take place in Washington, D.C. and across the country, representing the largest single-day protest against Trump and Musk since the White House announced changes to the leadership of the U.S. government. The White House has not commented on this wave of protests, but photographers captured Trump holding a copy of the New York Post, flipping through an article about China. The impact of the tariffs on trade has been evident since their implementation. The UK’s Jaguar Land Rover announced it would "pause" all shipments to the U.S. to "adapt to the new trade terms." The U.S.-China trade war continues, with both sides showing no signs of backing down.

Analysts believe that Trump's tariff policy deviates from the foundational elements of U.S. economic prosperity and could lead to considerable chaos. Whether high tariffs imposed on several Asian countries can establish a "positive defense line" against China remains to be seen. Trump’s funding plan first raised the total tariff on Chinese goods to 54%, while all imported goods also face a 10% increase; the tax rates on "seriously non-compliant countries" like China will be even higher.