Under the expectation of tariffs, the capital market is preemptively "taking sides." Based on recent capital flows, a clear trend can be observed: assets benefiting from traditional globalization are being re-evaluated, while domestically-focused, regional, and resource-autonomous industries are gradually gaining premiums. This change is not overnight but is based on long-term pricing of policy uncertainties. Hedge funds and institutional investors are not betting on a single outcome but are hedging extreme policy risks through diversified layouts. In other words, although the tariff rulings have not yet been announced, the market has already conducted a preliminary "dress rehearsal." For ordinary investors, blindly chasing hot topics is not advisable; it is more important to understand the misalignment between policy cycles and market cycles. True opportunities often emerge after excessive emotional reactions. #特朗普关税裁决临近