This game is like a meticulously staged political drama—grandiose tariff threats continue to unfold, yet actual enforcement is always paused at the last moment. On the surface, it appears to be a tense economic confrontation, but underneath it lies an unspoken game of tacit understanding. Both sides are leveraging this 'fighting without breaking' state: they can showcase a tough stance domestically while avoiding actual economic losses.
However, after prolonged play of such tactics, the market begins to develop a resistance. The initial few delays could still trigger fluctuations, but eventually even short-term investors have learned the 'wolf is coming' response strategy—symbolic fluctuations at the announcement, followed by a quick return to normalcy. Essentially, this is a war of attrition with no winners. Neither side dares to truly engage nor admit defeat, ultimately evolving into a test of who can endure longer. Meanwhile, the market is transforming from initial panic to current numbness.
