Last night, the U.S. 301 replacement tariff plan was released. I took a close look—first, the conclusion: the overall impact is not big; compared with the prior tariffs, it has been weakened. It probably won’t trigger panic-driven selloffs or a sharp plunge.

Trump this time has officially implemented a new round of 301 tariff measures, to replace the soon-to-expire global temporary tariffs. Based on Section 301 of the Trade Act, under a so-called pretext, tariffs will be imposed in tiers targeting 60 major trading partners worldwide.

For 14 economies, including the EU, the UK, and Canada, an additional 10% tariff will be imposed;
For us, Vietnam, and South Korea/Japan—46 economies in total—the tariff rate is set at 12.5%.

The earlier 150-day global 10% temporary tariffs were questioned by the courts over legal risk and could be overturned at any time. This time, when Section 301 is used for taxation, the legal procedures are more complete, making it difficult for local courts to halt it. This round of tariff hikes has long-term, sustained coverage, reaching nearly 99% of U.S. import trade—not just a single industry, but a broad, broadly beneficial-type imposition. Although there are channels for exemptions for a small number of goods, the vast majority of internationally traded goods will be affected.

Trump is insisting on a tariff war this time, making the temporary tariffs permanent and increasing fiscal revenue. Access to the U.S. market is also for the midterm elections.

Under normal circumstances, the 640-636 area here should have support.
$BTC