🌐 TARIFFS = STRUCTURAL SHIFT, NOT A ONE-OFF POLICY

A universal 10% reciprocal tariff and the removal of the de minimis exemption mark a lasting change in how global trade flows into the U.S. This isn’t just about revenue — it’s about leverage and supply chain re-pricing.

What markets are watching closely:

• How much of the tariff cost is absorbed vs passed to consumers

• Retaliation risk from major trade partners

• Impact on inflation persistence and corporate margins

Why this matters for macro and crypto

Tariffs can support domestic investment, but they also act as a hidden tax on global trade. If inflation remains sticky due to trade frictions, central banks may stay cautious longer — directly affecting liquidity conditions.

For scarce assets:

Periods of trade fragmentation historically increase interest in assets that are borderless and supply-constrained. That doesn’t mean straight-line gains, but it explains why BTC stays relevant in macro debates.

Key takeaway:

Trade policy reshapes incentives.

Markets reprice slowly — then all at once.

#Macro #TradePolicy #Tariffs #Inflation #Liquidity #CryptoMacro #GlobalMarkets