Trump is clearly in a panic! After China retaliated and did not back down in the slightest, Trump came out again to express his stance. Trump claimed, "China has been hit much harder than the United States." Later, he once again urged, "Don't waver! We will win this economic revolution!" Clearly, Trump's remarks were intended to boost morale for American society, the stock market, and the U.S. market.
In just two days, $5 trillion was wiped off the value of American stocks. However, Trump insisted that China had been hit much harder than the United States. It is crystal clear who is suffering and who lacks confidence. The stock market is the barometer of the economy and also reflects the collective confidence of investors in the future. Obviously, no matter how Trump claims that China is "panicking," the fact proves that the United States is now very panicky. The market is responding with a sharp drop to Trump's tax policy.
There is no doubt that this is the moment when Trump feels the most anxious. What Trump hopes to see now is a situation where China leads the way in making concessions to the United States, followed by Europe, Japan, South Korea, Australia, Canada, India, and others all making concessions to the United States. But this scenario has not happened. After China's firm retaliation, Europe is also studying countermeasures against the United States. If Europe follows China to retaliate against the United States, does the United States fear being isolated in the economic and trade field?
In fact, we don't need to look at what Trump says; just by observing the U.S. economic and trade sector and the American public, we can tell that Trump's policies contradict their interests. The U.S. economic and trade sector hopes to continue doing business with China and Europe, hoping that supply chains from China and Europe remain stable and unaffected. The public's demand is simply to be able to buy affordable goods and have their normal lives unaffected, but Trump's tariff increases are changing all of this.
In fact, there are two things that also show Trump lacks底气 (confidence). First, after our retaliation, Trump, who regards tariffs as his most powerful weapon, did not announce any new tariff plans. This was somewhat unexpected. Second, the U.S. Treasury Secretary is worried about damaging his reputation and has hinted at resignation. If the U.S. stock market continues to fall sharply, Americans' wealth shrinks, American goods become scarce, and prices rise. How can Trump gain support from all sectors of the United States? Clearly, Trump is in unprecedented anxiety, and standing up to talk now or trying to boost morale is likely to be futile.
Original article: https://www.toutiao.com/article/1828609995659267/
Disclaimer: The article only represents the views of the author.