$BTC Trump's tariff policy will have complex impacts on the cryptocurrency market and the global economy. From an economic perspective, high tariffs may exacerbate inflation by pushing up the prices of imported goods (for example, U.S. inflation expectations rose to 6.7% in April), forcing the Federal Reserve to maintain high interest rates to curb prices, which in turn may drag down economic growth. At the same time, tariff revenue cannot replace income tax (a tax rate of 69.9% would be needed to cover a $2 trillion gap), and federal finances may fall into a vicious cycle of "tax increases—deficits—debt issuance," further undermining market confidence.