Why does Trump still pay for the tariff of TACO? 1. The tariff level in the tariff letter is not higher than the level on billboard 4.2, and in some countries it is even lower. After experiencing the impact in early April, the market has stronger resilience. 2. The deferred period of equivalent tariffs has been extended to August 1st, which is equivalent to extending the negotiation time by another three weeks. Therefore, the market will not be intimidated by the current tariff letter; 3. Since mid April, the US stock market and the big cake market have impressed us deeply. In addition, Trump has extended the suspension period, so we will worry about missing it again. The memories of death have returned. 4. What are the main countries' statements after the tariff letter Judging from the official statements from Japan, South Korea, and the European Union today, it can be seen that the EU should make some concessions https://((x.com))/qinbafrank/status/1926191836806135827? S=46&t=k6rimWSEbo2D2TXolYcM-A previously discussed that if there is a trade dispute between the United States and Europe, it will have a greater impact on the European market. South Korea is intensifying negotiations, while Japan is taking a tougher stance on tariffs in the automotive industry. On the one hand, the automotive industry has a significant impact on the Japanese economy, and on the other hand, as previously discussed, https://(x.com)/qinbufark/status/192579419381477917? S=46&t=k6rimWSEbo2D2TXolYcM-A The election for the Japanese Senate is coming soon, and for the sake of the Senate seat, Shigeru Ishiba naturally cannot relax now, otherwise it will affect the election situation. It depends on whether the official attitude will improve after the Japanese Senate election. 5. What will happen on future tariffs that will cause market panic? From 4.2 to 4.9 and then to 7.9, it is now 8.1. The effective date of Trump has been postponed. The market is also used to the TACO at the critical moment. But we can't assume that Trump will always push back, and we need to be vigilant if the best countries insist on tiger concessions and the United States does not make concessions, and the agreement has not been reached. Trump will not ignore the fact that it will directly let tariffs take effect without setting a buffer period. So the impact on the market at that time should not be small, even if an agreement is reached later to exempt it, it will be another big fluctuation.