Is it just data? You just need to see if it's a fixed-point explosion and that's it. Also, many people are asking, aren't US-China tariffs supposed to decrease? Shouldn't they go up?
Here's a picture for you to look at, understand it yourself. Currently, all policies are only temporarily easing the situation, and they actually last for 90 days. So will there be any changes in these 90 days?
However, I personally feel that the short-term pullback is not due to tariffs, but simply a clearing of orders.