CICC analysis pointed out that the equivalent tariffs announced by Trump on April 2 exceeded market expectations, covering more than 60 economies, and the tariff magnitude may significantly increase the effective tariff rate of the United States from 2.4% in 2024 to 25.1%, exceeding the level after the Smoot Hawley Tariff Act of 1930. This move may push up US PCE inflation by 1.9 percentage points and reduce GDP growth by 1.3 percentage points, although it may bring in over $700 billion in fiscal revenue. CICC believes that this will exacerbate market uncertainty and the risk of "stagflation" in the United States, making it difficult for the Federal Reserve to cut interest rates in the short term, further increasing downward pressure on the economy. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=40403