#加密市场反弹 ### 1. **Policy Adjustment Content**

- **Suspension of Tariffs on Certain Countries**: Trump announced a suspension of new tariffs for 90 days on countries other than China, during which tariffs were significantly reduced from the originally planned higher rates (such as 46%) to 10%, and took effect immediately.

- **Imposition of High Tariffs on China**: The tariffs on Chinese goods were raised to 125%, justified by the reason that "China lacks respect for the world market." This measure also took effect immediately.

### 2. **Background and Reasons for Policy Adjustments**

- **Economic Pressure**: Rising U.S. Treasury yield rates and fiscal pressure are significant factors. As of March 2025, the total U.S. national debt exceeded $36.5 trillion, with interest payments accounting for 18% of total fiscal expenditures. The sell-off of government bonds led to a surge in yields (such as the 10-year Treasury yield exceeding 4.5%), forcing Trump to compromise.