Strategist: Tariff threats have resurfaced, but the market is relatively calm this time.

Facing the new round of tariff threats from the Trump administration, the initial reaction of the bond market was to sell off US Treasury bonds, with the yield on the 10-year US Treasury bond rising from the early lows at one point. However, the volatility was not significant. Apparently, investors generally expect that the aggressive proposal to impose a 50% tariff on imported goods from the European Union will ultimately be substantially weakened in negotiations, similar to the tariffs imposed on China earlier. John Madzire, investment strategist at global asset management giant Vanguard, said, "The market has now calmed down because this situation has happened before, and we know what happened later. It's like the story of 'the boy who cried wolf,' people don't take it too seriously anymore." He added, "The government is not acting irrationally, they have their own plans, and there are limits to how far they can go."