特朗普对关税的撤销会导致市场影响

2025年4月23日，在唐纳德·特朗普总统宣布对中国的重大关税削减之后，美国股市飙升。

U.S. stock markets soared on April 23 following President Donald Trump’s announcement of major cuts to tariffs on China. The move, which follows weeks of strained relations between the two economic superpowers, saw the Dow Jones Industrial Average rise by an impressive one thousand points.

在唐纳德·特朗普总统宣布对中国关税的重大削减之后，美国股市于4月23日飙升。此举是在两个经济超级大国之间紧张的关系紧张之后，道琼斯工业平均平均数上升了1000分。

The gains across the major indexes were broad based, with the S&P 500 and the Nasdaq Composite both increasing by 3%. This signaled a return of investor confidence after a turbulent period.

主要指数的收益基于广泛，标准普尔500指数和纳斯达克综合材料都增加了3％。这表明在动荡时期，投资者的信心回归。

The sunny economic picture came after U.S. relations with China had been uneasy for weeks before the cuts to U.S. tariffs. Trump said the tensions that had unsettled global markets were now cooling, while tariffs would decrease substantially. This policy shift also paused the “Sell America” trade narrative that had been gaining traction.

阳光明媚的经济形象是在美国与中国的关系一直不安的数周之后，在削减美国关税之前就一直感到不安。特朗普说，不稳定的全球市场的紧张局势现在正在冷却，而关税将大大降低。这一政策转变还暂停了吸引人的“卖美国”贸易叙事。

The cryptocurrency market, meanwhile, remained strong as Bitcoin broke through $93,000. According to the cryptocurrency exchange Binance, BTC was trading at $93,056 by 7:45 a.m. ET on April 23.

同时，随着比特币破产的93,000美元，加密货币市场仍然强劲。根据加密货币交易所二进制的数据，BTC在4月23日上午7:45在4月23日上午7:45交易。

The cryptocurrency market has remained buoyant in recent days with major coins such as BTC and Ether showing strength. The gains come after a period of volatility in crypto prices that saw Bitcoin fall below $30,000 in April, before rebounding above $40,000.

最近几天，加密货币市场一直保持浮力，BTC和以太等主要硬币表现出强度。在加密货币价格波动的一段时间之后，4月份比特币低于30,000美元，然后反弹超过40,000美元。

The upbeat news on tariffs also helped to lift mood in the markets. A FactSet chart tracking U.S. stock indexes over three sessions showed that all major indexes were in positive territory by April 23.

关于关税的乐观新闻也有助于提高市场的情绪。在三个会议上跟踪美国股票指数的事实集图表显示，到4月23日，所有主要指数都处于积极的领域。

The administration had previously announced plans to impose a 145% tariff on Chinese imports, a move that economists said would effectively end most U.S. China trade. The White House official confirmed the high rate of the tariff and fears of economic fallout were expressed by economists, who pointed to the potential for a steep rise in consumer prices and a setback for the fragile economic recovery.

政府此前曾宣布计划对中国进口征收145％的关税，这一举动将有效地结束大多数美国中国贸易。白宫官员证实，经济学家表达了关税的高率和对经济影响的担忧，他们指出，消费价格急剧上涨，并遭受脆弱的经济复苏的挫折。

The administration’s decision to lower tariffs came after a period of negotiation, during which business leaders had been pressing the government for relief from the effect of high tariffs on supply chains and consumer prices. The move also brought a reprieve for Federal Reserve Chair Jerome Powell, who had been subject to criticism during the market turbulence.

政府决定降低关税的决定是在一段时间的谈判之后提出的，在此期间，商业领导人一直敦促政府减轻高关税对供应链和消费者价格的影响。此举还为美联储主席杰罗姆·鲍威尔（Jerome Powell）带来了缓刑，后者在市场动荡期间受到批评。

Earlier on April 16, Powell signaled the Federal Reserve’s patience as it navigates the economic landscape. He said the Fed will wait to assess the impact of Trump’s policies, including tariffs, before changing the rates.

4月16日早些时候，鲍威尔（Powell）在驾驶经济格局时表示了美联储的耐心。他说，美联储将等待在更改费率之前评估特朗普政策（包括关税）的影响。

The rollback of the tariff now alleviated immediate pressure on the Fed and allowed Powell to keep the central bank’s current posture.

关税的回滚现在减轻了美联储的立即压力，并允许鲍威尔保持中央银行目前的姿势。

Since Powell was appointed chairman of the Federal Reserve in 2018, Trump’s relationship with Powell has been marked by tension and a divergence of views.

自鲍威尔于2018年被任命为美联储主席以来，特朗普与鲍威尔的关系以紧张局势和观点分歧为标志。

With regard to interest rates, Trump has regularly voiced his disapproval of Powell’s actions and expressed a desire for lower rates to be set by the Fed chairman. In response to Powell’s refusal to lower interest rates on April 17, Trump said the Fed chairman was “playing politics.” He went on to threaten to dismiss Powell if he did not comply with his wishes.

关于利率，特朗普定期表示自己对鲍威尔行动的反对，并表示希望降低利率由美联储主席设定。为了回应鲍威尔在4月17日拒绝降低利率的拒绝时，特朗普说，美联储主席正在“发挥政治作用”。如果他不遵守自己的意愿，他继续威胁要解雇鲍威尔。

For his part, Powell has stated categorically that he does not intend to leave the position earlier than the May 2026 that he is scheduled to retire from.

鲍威尔（Powell）对他的角色明确地表示，他不打算比2026年5月要退休的职位更早离开该职位。

The tensions reached a peak as Trump called for lower interest rates to boost economic growth in an uncertain time of trade and the administration’s trade policies being subject to scrutiny.

紧张局势达到了高峰，因为特朗普呼吁在不确定的贸易时期内降低利率，以提高经济增长，而政府的贸易政策则受到审查。

While Trump’s administration had threatened to sharply increase tariffs on $250 billion worth of Chinese goods, the president suggested a different tone by April 22. He said he had no plans to fire Powell and acknowledged that the Fed had a role in keeping economic stability. In a time of market recovery, Trump appeared conscious of how the backlash could come if he disrupted the Fed’s independence.

尽管特朗普的政府威胁要大幅提高价值2500亿美元的中国商品的关税，但总统在4月22日之前提出了不同的语气。他说，他没有计划解雇鲍威尔，并承认美联储在保持经济稳定方面发挥了作用。在市场恢复的时期，特朗普似乎意识到如果破坏美联储的独立性，他的反弹可能会如何。

The Fed’s autonomy in monetary policy, too, was also backed by bipartisan support, which further added to the support for Powell’s position.

美联储在货币政策方面的自治也得到了两党支持的支持，这进一步增加了对鲍威尔立场的支持。

On April 23, the stock market went up sharply and boosted investor sentiment, as the dual gain of tariff reduction and Trump’s softened stance on Powell was realized.

4月23日，股市急剧上升并提高了投资者的情绪，因为降低关税的双重收益和特朗普对鲍威尔的柔和立场的双重收益得到了实现。

The broader economic context was also involved in this. Data from Nasdaq also shows that over the long term, Bitcoin has outperformed traditional assets such as gold and the S&P 500 with a return of 437,171 percent since 2011. This resilience in cryptocurrencies, along with the tariff news, encouraged investors to re enter equity markets.

这也涉及更广泛的经济背景。来自纳斯达克的数据还表明，从长远来看，比特币以来，比特币的表现优于黄金和标准普尔500指数，自2011年以来的回报率为437,171％。加密货币的这种弹性以及关税新闻，鼓励投资者重新进入公平市场。