Reference News website reported on May 6 that the Spanish La Vanguardia website published an article titled "Trump's First 100 Days Changed Economic Order" on May 3, authored by Pier Giorgio M. Sandri. The article is compiled as follows: Donald Trump has been in office for just over three months, but the world has been permanently changed. This president has disrupted international trade and punished America, moving from the so-called "golden age" to a chaotic era. Tariffs are hitting American businesses: General Motors estimates that tariffs will result in an additional $5 billion cost; Tesla's first-quarter profit fell by 71%; Apple faces a $900 million impact due to tariffs; Amazon revised down its earnings outlook for the second half of this year, and Procter & Gamble and PepsiCo took similar actions; McDonald's executives admitted that many customers make hamburgers at home to save money. Executive orders are complex and changeable. Since taking office, Trump has issued more than 140 executive orders, setting a historical record. This is not only an anomaly in the system but also an economic anomaly. Trump frequently makes sudden shifts in decision-making, coupled with court rulings blocking his executive orders, which bring uncertainty and volatility. Trade is in turmoil. As International Monetary Fund President Georgieva put it, "the uncertainty of trade policy has reached its peak." The average tariff level in the United States is the highest since the 1930s. China has not given in. Prominent analyst Martin Wolf asserted that the Chinese government can win the trade war with the U.S., as China dominates in many fields and can sell to more markets while utilizing its global influence network. Therefore, since April's "Liberation Day," the volume of containers shipped from China to the U.S. has halved. The U.S. economy is on the brink of recession. Technically speaking, the U.S. has not yet entered a recession, but the U.S. economy contracted by 0.3 percentage points in the first quarter - the first negative growth since 2022. The U.S. current account is also unbalanced. Gilles Moëc of AXA Investment Managers said, "Using tariffs as a blunt tool to cut deficits is unlikely to succeed and may disrupt global economic growth and supply chains, triggering inflation." The U.S. dollar is in "free fall." The U.S. dollar has depreciated nearly 10% within 100 days, falling to its lowest level since 2021. Analysts believe that the U.S. president is damaging the reputation of the U.S. as a reliable investment destination and weakening the appeal of U.S. Treasury bonds as a safe haven. American stock market suffers its worst situation in 40 years. Since Trump took office, Wall Street has experienced its worst start since Gerald Ford became president more than 40 years ago, with the S&P 500 index falling 8% in three months. Is there anyone with a response plan? Angel Sas, head of the ESADE Center for Global Economics and Geopolitics, pointed out, "Trump doesn't have a plan; he only has preferences. For example, opposing China and raising tariffs. This could be a misunderstanding of American strength. The dominance of the U.S. dollar is not eternal, nor is America's leadership in the world economy." (Compiled/translated by Wang Meng) Original source: https://www.toutiao.com/article/7501172576106906139/ Disclaimer: The article only represents the author's personal views. Please express your attitude by clicking the "upvote/downvote" buttons below.