Trump is once again shifting blame to the retired old man. The short-term domestic demand growth brought by tariffs is easily understandable; tariffs come at the cost of weakening global division of labor, which is the core source of modern economic efficiency. The Americans are now relying on tariffs to boost domestic demand, which is essentially a self-destructive attempt at de-globalization.
The GDP's steep decline should be somewhat exaggerated. The Americans are determined to adjust the long-term industrial structure with tariffs, which, in the long run, will decrease international competitiveness and is not conducive to long-term industrial repatriation.
In the future, global capital flows will increasingly shift towards regional cooperation systems such as Asia-Pacific + ASEAN + Middle East + Latin America. The trend of the Americans' systemic marginalization will intensify. The post-World War II world, dominated by a unipolar economic entity, will transition to a multipolar structure, creating a new world economic map characterized by multiple centers, multiple currencies, and multiple nodes. In the long run, this is a good thing for everyone, and any industry, including the cryptocurrency sector, will benefit from a diversified economic world.