Is the Tariff Threat Rising Again? Trade War Underlying Currents Surge, How Should Your Assets Respond

Recently, the U.S. Department of the Treasury sent a signal: the Trump administration's "trump card" has never been put away. According to reports, even if trade negotiations with the EU remain deadlocked, the President could re-activate emergency powers at any time to impose tariffs on the EU and even more trading partners. What's more concerning is that the likelihood of the Supreme Court intervening is almost zero—meaning a new round of trade friction seems almost certain.

Looking back at Trump's previous administration: using "national security" as an excuse, wielding tariffs as a weapon. The data is striking—just between 2018 and 2019, U.S. tariffs on steel and aluminum from the EU involved over $10 billion in trade. The EU wasn't just a passive victim; iconic American products like motorcycles and whiskey became targets of retaliation.

If this escalation truly happens, European automobiles and agricultural products will be the first to suffer. But don’t think this is just a US-Europe issue—domestic U.S. companies, global supply chains, cross-border e-commerce, no one can escape. Inflation pressures, consumer costs, corporate profit margins—these are all interconnected.

Legally speaking, the President’s tariff powers are indeed excessively broad, with the judiciary having little say. This also means that regardless of who is in power in the future, tariffs could become a routine economic weapon.

For crypto market participants, what does this mean? Traditional assets are volatile, supply chain expectations change, and these factors will feed back into the pricing logic of risk assets. Do you also feel this uncertainty?

Let’s discuss—if the tariff war really heats up, who will be the hardest hit? The U.S. system, the European economy, or the entire global trade order? Feel free to leave your comments.