Trump's second term will reach its hundredth day on April 30, and now traditional alliances are breaking down, market confidence is weak, and uncertainty is pervasive.

(Time Magazine) published an article on April 22 featuring an interview with Trump, revealing a wealth of 'insider information' from his first hundred days in office during a one-hour conversation.

Given the enormous length, we only excerpt the parts that investors care about:

First, reciprocal tariffs once triggered a wave of U.S. Treasury sell-offs, but Trump recalled: 'The market was panicking at the time, but I wasn't.'

· Interpretation: This sentence is very deadly; Trump's calmness is disconnected from the market's panic, and he cannot feel the warmth or coldness of the market, facing even greater uncertainty in the future.

Second, Trump still firmly believes that tariffs are necessary. He stated that if, a year from now, the U.S. still imposes tariffs of up to 50% on foreign imports, he would consider it a 'complete victory'.

· Interpretation: Trump mentioned the figure of 50%, which means that even if the trade war eases, it is only a temporary alleviation. Even if market trends cause Trump to 'take a step back', his ultimate goal will not change.

Third, a series of agreements is expected to be announced in the next three to four weeks (which will set fair tariff prices for different countries).

· Interpretation: It has again given the market a focal point of 'three to four weeks', which will be a key node for short-term emotional repair or further turmoil. Trump will always direct people's attention to the next date.

For China, an attractive option is for both sides to temporarily cancel the recently raised tariffs while negotiating a longer-term solution—if that is the case, the Chinese side may respond. But even if both sides suspend tariffs to open negotiations, a key issue must be considered: the agreement Trump wants is no longer just a repeated commitment to purchase more American goods.

The future market trends will exceed people's imagination.