#特朗普关税进展#

Has tariffs become a campaign magic weapon? Is Trump going to use it to exchange for "votes as hard currency" this time?
Trump's obsession with tariffs is simply worthy of a book titled "Love in the Time of Tariffs." This time he has brought tariffs back into his campaign speeches, even threatening to "cut all imports across the board." Is this taxation? No, this is blatant political leverage.
Why do I say that? Because this is not an economist's suggestion, but a script from a trader. Trump understands that tariffs are the "safeguard most easily understood by low-intelligence people"; one statement of "I want to bring manufacturing back to America" can elicit loud applause— as for the costs? They won't be written on the campaign posters anyway.
The question is, has American manufacturing really returned due to tariffs? The reality is that most companies are simply moving from China to Vietnam and Mexico, with rising costs and compromised quality – what is truly "returning" is merely fragments of the supply chain.
Trump's talk of "universal taxation" is actually another version of the "American-style internal circulation." Not relying on the world, only relying on America? Sounds exciting, but the market doesn't believe it. Wall Street has already started calculating: if he wins, the asset hedging model will need to be reconstructed.
Summary: Tariffs are no longer a regulatory tool but have become a campaign slogan. You think he is discussing policy, but in fact, he is campaigning for votes. Smart investors should have learned to listen to the subtext of "Trump language" long ago.