According to online reports, Nomura analysts said in a research report that Trump is unlikely to fulfill all tariff threats. After a month's postponement of car tariffs on Canada and Mexico, there are signs that Trump will abandon the 25% tariff on the two countries. As Trump uses some of his tariffs as a negotiating tool, conflicts may fluctuate between levels. But Trump's first term behavior shows his willingness to escalate trade conflicts despite market weakness and volatility. Trump's actions so far have Nomura Securities skeptical of a rapid easing of the situation. (Jin Shi)