Protectionism on the Rise or Cyclical Policy Fluctuations?

Donald Trump’s new tariff policies have once again made “protectionism” a hot topic. Supporters see it as a shield to safeguard jobs, while opponents worry it could be a driver of inflation. The conflicting voices make the market particularly lively.
From an economic perspective, tariffs can indeed provide short-term relief for certain industries. However, long-term competitiveness ultimately depends on efficiency and innovation, not barriers themselves. Protection can buy time but cannot replace upgrades.
Humorously, tariffs are like an umbrella—useful when it rains, but if you carry it around every day, it becomes unnecessary on sunny days. What businesses truly care about is not tariffs themselves but the stability of policies. A predictable environment is more important than low tax rates.
Market reactions are often polarized: some bet on benefits for domestic manufacturing, while others worry about costs passing on to consumers. Inflation expectations, corporate profits, and employment data will all be key indicators to assess the effectiveness of policies.
Ultimately, the impact of tariff policies will not only be reflected in trade figures but will extend to investment confidence and consumer behavior. Short-term fluctuations are inevitable, and long-term trends still need to be observed. #特朗普宣布新关税政策