#美国加征关税

US stocks soar! Why isn't Bitcoin following? In recent days, after the US stock market opened, the Nasdaq and S&P 500 indices have experienced significant increases, completely recovering the losses caused by Trump's tariffs. While Ethereum is skyrocketing, Bitcoin hasn't seen much of an increase. This is the first time since April that there has been no reaction to positive news; what’s going on?

Let's first look at why the US stock market is surging this time. Starting from April 9, Trump first suspended reciprocal tariffs to stabilize the trade war's pace. Then, on April 22, he publicly denied plans to dismiss Federal Reserve Chairman Powell, stabilizing expectations for monetary policy. At the end of April, he publicly stated that he does not seek re-election in 2028, reducing political uncertainty. From the US-UK agreement to the US-China joint statement, how the market has been influenced by him and then recovered. Particularly, the US-China joint statement has directly become a catalyst for this round of increases. However, it is worth noting and reminding that in 2018, the US and China also issued a similar joint statement, and shortly thereafter, the US turned its back and increased tariffs again. Additionally, besides Trump's erratic maneuvers, the reasons for the surge in the US stock market include the US economic data released in April, and corporate earnings reports were also quite strong; the US economy is not as bad as the market expected. Therefore, the easing of tariff policies, strong economic data, and impressive corporate performances have led the US stock market to directly enter recovery mode, making everyone feel that the worst may be over.