1. Market turbulence: U.S. stocks evaporated $2.85 trillion, Bitcoin dropped over 8% in a single day.

The 'reciprocal tariff' policy signed by U.S. President Trump on April 2 is like a heavy bomb detonating in the global market.

  1. Stock market plunge: The three major U.S. stock indices fell sharply for two consecutive days, with the S&P 500 accumulating a decline of nearly 12%, and Nasdaq entering a bear market. Tech giants Apple and Tesla saw their market values evaporate by over 7%, marking the worst weekly performance in four years.

  2. Crypto assets linked decline: Bitcoin price plummeted from $88,500 to $81,200, a drop of 8.25%, indicating a comprehensive sell-off of risk assets.

  3. Global supply chain panic: Stock markets in re-export trade hubs like Vietnam and Mexico plummeted by 6%-7%, while the A-share machinery and textile sectors are under pressure, and foreign capital is accelerating its withdrawal from emerging markets.

2. Core of tariff policy: 10% baseline tariff + targeted strikes, with a 54% tariff rate reaching a historic high.

Trump's policy this time presents three major characteristics:

  • Full coverage: A 10% baseline tariff on all imported goods, effective April 5; differentiated tariffs on trade deficit countries like China and Vietnam, with rates as high as 54%.

  • Upgrading of non-tariff barriers: Value-added tax and technical standards will be included in tariff calculations, and the $800 exemption policy for packages will be abolished, directly hitting cross-border e-commerce.

Geopolitical tool: Using tariffs to pressure Mexico and Canada to resolve the illegal immigration problem, while also targeting strategic industries in China such as semiconductors and new energy.

3. Economic impact: The double-edged sword of protectionism triggers global games.

U.S. inflation pressure: Tax Foundation estimates that tariffs could increase annual household spending by $2,100, and prices of consumer goods like the iPhone may rise by 30%-40%.

Export pressure: The cost of electromechanical products exported to the U.S. surged by 54%, and in the first quarter, trade volume with the U.S. has already dropped by 7.8%, with a $160 billion surplus possibly evaporating.

4. Warning from the crypto market: Is Bitcoin's safe-haven attribute failing?

This synchronized plunge of Bitcoin and U.S. stocks breaks the myth of 'digital gold.' Analysts point out:

Strengthening of risk asset attributes: An increase in the proportion of institutional investors enhances the correlation between cryptocurrencies and traditional markets, leading funds to flow into traditional safe-haven assets like U.S. Treasuries and gold amid policy uncertainty.

Regulatory concerns: The U.S. may extend the tariff war into the digital realm, implementing stricter scrutiny on cross-border crypto transactions.

Conclusion: A turning point in crisis.

In 1930 (Smoot-Hawley Act), global trade was halved, and now Trump's Tariff 2.0 may reshape the landscape of globalization. Short-term turbulence is inevitable, but East Asian manufacturing companies are opening new battlegrounds in ASEAN and the Middle East through a strategy of 'technology premium + market diversification.' History tells us that the darkest moments often give birth to the rebirth of a new order.#加密市场回调 #