Is there any progress in the tariff negotiations? What is the market's reaction?
The good news is that there has been some movement in the tariff negotiations! South Korea and India have already started talking, and Japan and the U.S. plan to continue discussions at the end of April or early May. What about the highly anticipated U.S.-China negotiations? Although Trump hasn't made any significant noise, this week the village's finance minister and central bank governor will go to the U.S. to attend the World Bank and IMF meetings, so there might be some low-level communication. However, don't expect U.S.-China negotiations to be like those with other countries; the long-term trend of U.S.-China relations is decoupling, and the market is already psychologically prepared for that. Therefore, it's not a big problem if there are no agreements in the short term, but as long as there is some small progress, market sentiment can improve a bit. Other countries, like South Korea, won't reach an agreement overnight either, and the fastest it could happen would be in July.
This means that the tariff negotiations are a protracted battle, and there won't be any major breakthroughs in the short term, but as long as there is some small progress, it can stabilize market sentiment.