The policy of the United States imposing additional tariffs, especially the related measures proposed during the Trump era, has once again raised concerns in the international community about trade wars. Tariffs, as a tool for trade protection, may protect domestic industries in the short term, but in the long run, they can easily provoke retaliatory measures from trading partners, leading to a contraction in global trade and increased economic uncertainty. For example, during the China-U.S. trade war, the imposition of tariffs by both sides not only raised the prices of goods but also disrupted global supply chains.

In addition, the imposition of tariffs may affect global capital flows. To avoid risks, investors may shift their funds to safe-haven assets such as gold or the U.S. dollar, while emerging markets face pressures of capital outflows. The cryptocurrency market, as an emerging field, may also be affected. On one hand, market uncertainty may drive funds into cryptocurrencies like Bitcoin as a hedging tool; on the other hand, strict capital controls may suppress its liquidity.

Overall, the policy of imposing additional tariffs is a double-edged sword, and the chain reactions it triggers require careful responses from various countries. In the global economy.