#美国对60个经济体加征关税 The U.S. “track-changing” move of imposing tariffs on 60 economies has sent global markets back to a high-volatility trade-friction rhythm overnight. Starting July 24, U.S. Eastern Time, the U.S. has, under Section 301 of the 1974 Trade Act, imposed new tariffs of 10% to 12.5% on 60 trade partners on the grounds of “ineffective enforcement of forced labor,” covering roughly 99.4% of the total value of U.S. imports. It has seamlessly followed the expiration of global temporary tariffs due that same day. This is not a one-off shock, but a strategic move to turn trade protectionism into something long-term and institutionalized.

The market reaction is quite direct. On July 23, all three major U.S. stock indexes closed lower together: the Dow fell 0.97%, the Nasdaq plunged 2.15%, and tech stocks led the decline. On July 24 in early Asia-Pacific trading, regional equities tracked lower as well. The tariffs raise import costs, intensify imported inflation into the U.S., and force rate-cut expectations to be pushed back. The dollar’s safe-haven appeal strengthens, and valuations of global risk assets face broad pressure overall.

Capital flows also sent a clear signal: Nasdaq futures NQmain slid lower under pressure, safe-haven funds rushed into the gold ETF GLD, and Bitcoin BTC broke below the $65k level. In a word, tariffs are not only a trade issue—they are a re-anchoring of global asset prices. The longer the supply chain and the deeper a company’s reliance on imports, the more direct the downside pressure on profit expectations becomes.