It took some time to sort out the latest tariff exemption policy, which is one of the reasons why Bitcoin and cryptocurrency are rising today. Even next Monday, the US stock market, especially hardware technology stocks (such as Apple), is likely to rise. On the evening of April 13, Beijing time, the Trump government announced a new round of tariff adjustment, exempting smart phones, computers and related technical equipment and parts, including semiconductors, solar cells, LCD panels, flash disks, memory cards, solid-state drives, etc., from the 125% tariff on China and the 10% equivalent tariff on other countries. The exemption will take retroactive effect from April 5th, and the tariffs imposed from April 5th will be compensated. In human terms, mobile phones, computers, and their components are fully exempt from taxes (but Chinese goods still need to bear an additional 20% tariff related to fentanyl). This measure is regarded as a patch for tariffs. Previously, we were discussing that it is difficult for Apple's devices to achieve low prices. Now, the impact of this patch is much smaller after its introduction, and it can also be seen as Trump's biggest compromise on tariff policy. As we said before, the final implementation plan of tariffs will only become weaker and weaker from April 2. April 2 is the worst version of tariffs. After that, the tariff plan will loosen the market more and more. That is, Trump will use tariffs more as a bargaining condition, as a waving stick, rather than as a result of falling. Of course, Trump added another sentence in this exemption, which is to give manufacturing industry some time to return to the United States. The sharp rise of ten-year US Treasuries may force the Federal Reserve as well as put pressure on Trump. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex