#美国加征关税 Trump's policy mix may strengthen US stocks and the dollar in the short term, but will increase global volatility in the long term. The movements of cryptocurrencies will depend on the interplay of the following factors:

- **Inflation and Safe-Haven Demand**: If inflation persists and the dollar weakens, Bitcoin may benefit; conversely, market risk aversion will suppress risk assets.

- **Policy Implementation Pace**: The speed of tax reform progress and the scope of tariff implementation are key variables. If tax cuts occur faster than expected (e.g., implemented mid-2025), it may alleviate concerns about an economic recession and support risk assets.

- **Geopolitics and Supply Chain Adjustments**: Whether companies can mitigate the impact of tariffs by shifting supply chains will determine if inflationary pressures are controllable.

**Investor Response Strategy**: Diversify allocations to balance risk, focus on inflation-resistant assets (gold, Bitcoin) and sectors benefiting from de-globalization (domestic manufacturing, DeFi), while closely monitoring Federal Reserve policy and trade war developments.