Trump's "reciprocal tariffs" have triggered a global trade war, with multiple countries announcing countermeasures.

On April 2, U.S. President Trump signed two executive orders, announcing a 10% minimum baseline tariff for all trading partners, and implementing differentiated tax rates for major economies such as China (34%), the European Union (20%), Japan (24%), South Korea (25%), and India (26%). The baseline tariff rate (10%) will take effect at midnight on April 5, and the "reciprocal tariff" will take effect at midnight on April 9.

The announcement of this policy immediately triggered a strong reaction in the market. U.S. stock index futures plummeted, and many technology stocks saw significant declines in after-hours trading. Bitcoin was not spared either, briefly dropping below $83,000 last night. Economists warn that the new tariffs could increase annual household spending by thousands of dollars and may push core CPI up to 3.5%.

In response to the U.S. tariff policy, multiple countries have announced countermeasures. The European Union plans to impose tariffs on $26 billion worth of U.S. goods, including steel, aluminum, and agricultural products. Canada has warned that if the U.S. implements "reciprocal tariffs," Canada will take retaliatory measures.

China has reduced its dependence on the United States by adjusting its soybean import structure in advance, while emphasizing that "there are no winners in a trade war," suggesting that further countermeasures may be taken. In addition, the Brazilian Congress has quickly passed the "Economic Equivalence Bill," authorizing the government to take retaliatory actions when trade interests are harmed.

Despite the Trump administration's insistence that the new tariff policy aims to "restore American manufacturing" and reduce the trade deficit, the prevailing view in the business and academic communities is that this initiative is more likely to raise inflation, disrupt supply chains, and ultimately be paid for by American consumers. The National Retail Federation has pointed out that the cost of tariffs will be directly passed on to consumers, affecting the operations of millions of businesses.

White House economic advisor Milan also acknowledged that there will be a short-term impact on the global economy. Although Trump referred to April 2 as America’s "Liberation Day," the reality may be another significant upheaval in the global trade system, with long-term effects potentially far exceeding expectations, and even becoming a trigger for a new round of economic recession.

How long do you think this tariff war will last? Will the global financial markets be affected and in turn impact the cryptocurrency market?

#特朗普关税 # Global Trade War #经济衰退风险 # Cryptocurrency Market #Geoeconomics