高盛：2025年特朗普关税政策研究报告：夸夸其谈还是实际行动？（英文版）

President Trump’s tariff actions since his inauguration have been nothing short of striking. While markets have begun to react to these developments, deep tariff risks are still being underpriced. Whether that will continue to be the case largely depends on if Trump tariffs end up as mostly talk, or action. Trump’s former Deputy USTR Jeff Gerrish believes the latter is more likely when it comes to broad tariff action given the President’s long-held goal of correcting global trade imbalances.