The "withdrawal button" for EU tariffs has been pressed, and both the US dollar and capital markets are relieved


If there is anyone who most hopes that tariffs on Europe will not actually be implemented, it is certainly not Europe, but the US dollar system itself. The escalation of tariffs means the spread of trade frictions, slower capital flows, and an increase in global risk premiums, which is not always good for the US dollar.

Trump's decision to cancel the threat at this time is, to some extent, a way to "ease pressure" on financial markets. US bonds, US stocks, and the foreign exchange market have all responded positively to this easing signal. But this does not mean that structural problems have disappeared; it is only a short-term risk delay.

This is more like a "stabilizing expectations operation" in the financial realm. When the market begins to worry about losing control of uncertainty, policy measures often need to step on the brakes. Trump's withdrawal of the tariff threat is not for Europe, but to prevent market sentiment from running off course#特朗普取消对欧关税威胁