According to Trump and Besant's statement on reciprocal tariff, the total tariff applicable to most countries will be 20%, and some countries may be higher, very few or even very high. But the focus is not on how many countries are covered, but on how many times the tariffs on countries with small trade volumes with the United States do not have a significant impact. The countries that have significant trade relations with the United States are the ones that have a real impact on inflation. Not to mention that the 20% tariff is already eight times the average tariff of the United States in 2024 (2.5%), and this magnitude of impact will definitely be reflected in commodity prices and corporate profits. What is more troublesome is that Trump has stepped tax rates. If high trading countries also fight back or even fight trade wars, inflation will not be temporary. The official implementation will not take place until August 1st, and the next 20 days will be a period of pulling and talking tough. The market volatility will also increase. The transfer of 80000 BTC today has indeed sparked a lot of discussion, but there is no sign of exchange inflow on the chain, and there are still 3.8 million early BTC on the chain that have not been moved.