Global markets performed relatively calmly on Monday, with gold prices opening lower and then stabilizing, while U.S. stock futures opened higher but gave back some gains, seemingly preparing for a significant choice.
1. After the market closed on Friday, the U.S. announced that it had 'exempted some electronic products from reciprocal tariffs.' However, before the market opened on Monday, there was a reversal, stating that this was just a pause in collection, which would later be changed to different tariff rates.
Shortly after playing golf on Sunday, Trump posted on social media claiming: No one can escape punishment. Exempt products are merely shifted to another tariff category, and there will be a review of the semiconductor and entire electronic product supply chain.
Going back to the previous weekend, Trump also answered market questions after playing golf, stating, 'Sometimes you have to take your medicine.' This opened the floodgates, and the U.S. stock market quickly plummeted.
U.S. Commerce Secretary Raimondo stated on ABC's (This Week) program on Sunday that all these products will fall under the semiconductor industry, and special focus tariffs will be imposed to ensure these products can return. We cannot rely on China to meet our basic needs.
In summary, the statements made by Trump and his senior trade officials on Sunday clearly demonstrated the scale of his planned tariff offensive, and the uncertainty is far from resolved.
2. Although the situation may still change, there has at least been a temporary easing.
· First, semiconductor tariffs 'may be introduced within a month or two' and will not be implemented immediately;
· Second, it will definitely be lower than the 145% tariff rate on Chinese products.
3. There are no signs of stability for the dollar and U.S. Treasury bonds; selling continues, and the yield on the 10-year U.S. Treasury has now reached 4.50%.
In the midst of market turmoil, there are also rumors on Wall Street that if the bond market crash worsens, the Federal Reserve may need to intervene. Boston Fed President Collins stated that if necessary, the Fed is 'absolutely' ready to help stabilize the market. Federal Reserve Chairman Powell will speak this Thursday (Beijing time 01:15).
If the pain level is a maximum of 10, it has now reached 8. $BTC
