$ETH Goldman Sachs: Do not be deceived by Trump's mild tariff facade, rates may far exceed expectations. On March 25, economists at Goldman Sachs pointed out that recent media reports suggest the Trump administration is leaning towards a more moderate stance on tariffs. However, they wrote not to be fooled by this appearance: this attitude is likely to bring negative unexpected shocks to the market.

Goldman Sachs noted that the Trump administration has always viewed tariffs as a negotiation tool and is likely hoping to start negotiations with a strong posture. A recent survey by Goldman Sachs showed that market participants believe the reciprocal tariff rates to be announced in April will reach 9%.

Goldman Sachs itself expects that the initial tariff rates could be double this expected rate, which means the market may face a negative surprise next week. $ETH