The Attributes and Market Dynamics of Bitcoin #比特币与美国关税政策

Basic Properties and Technical Foundation

Bitcoin is a decentralized cryptocurrency based on blockchain technology, characterized by a limited total supply (21 million), anonymity, immutability, and global circulation. Its price is highly volatile, having reached a historical high of $110,000 in February 2025, before retracing to the $85,000 range, and recently breaking through $85,000 again due to fluctuations in market sentiment.

Controversies and Regulatory Positioning

China's central bank and five other ministries have explicitly classified Bitcoin as a 'virtual commodity', denying its currency attributes and prohibiting financial institutions from participating in trading. However, countries like El Salvador have attempted to adopt Bitcoin as legal tender, but in January 2025, a bill was passed to revoke its official currency status.

II. Core Content of U.S. Tariff Policy

Tariff Policy Adjustments

In April 2025, the Trump administration announced reciprocal tariffs on over 180 countries and regions, with the comprehensive tax rate on goods from China rising to 125%, affecting about 60 countries. The policy aims to reshape global supply chains, reduce foreign dependency (in key industries such as semiconductors and clean energy), and promote 'nearshoring' production.

Policy Buffering and Game Theory Logic

The U.S. paused tariffs for 90 days on certain countries (excluding China) to observe market reactions and avoid supply chain shocks. This move aims to give companies time to adjust logistics routes (e.g., shifting to Vietnam, Mexico) and to facilitate the return of industries, while alleviating short-term inflationary pressures.