On July 31, the U.S. government revealed the newly formulated 'reciprocal tariff' policy, which will take effect on August 7. According to the new policy: economies with a trade deficit in goods with the U.S. will bear a 10% tariff; countries that have signed agreements with the U.S. or maintain only a small surplus will face an approximate 15% tax rate; and for countries that neither have agreements with the U.S. nor maintain a significant surplus, tariffs will be further increased. On August 5, Trump unexpectedly stated in a media interview that he plans to significantly raise import tariffs on pharmaceuticals, potentially reaching as high as 250%, and claimed that new tax regulations on medical and chip products would be announced next week. On August 7, Trump indicated that tariffs might be imposed on a few countries. As the so-called 'era of reciprocal tariffs' officially begins, how will this complex new tariff regulation affect global capital markets? In the current context, what are the prudent coping strategies for investors?
