There are still uncertainties in Trump’s tariff policy.

This week, the global market is about to face a series of tests. Among them, the greatest uncertainty comes from the tariff policy of the Trump administration. The United States Court of Appeals for the Federal Circuit (CAFC) will hear the opinions of both sides by June 9 and rule in the coming days whether to permanently overturn the ruling of the United States Court of International Trade (CIT) that blocked Trump’s “reciprocal tariffs”.

Meanwhile, changes in expectations of the Federal Reserve cutting interest rates have also continuously disturbed the US stock market. According to the schedule, the US consumer price index (CPI) report for May to be released on Wednesday may provide clues for the market to observe the future direction of the Federal Reserve’s monetary policy.

Another major highlight of this week is Apple’s annual Developers Conference (WWDC 2025), which will kick off on Monday, Eastern Time of the United States. Some analysts say that this press conference is unlikely to allay market concerns that Apple lags behind in artificial intelligence. Updates in the AI field are limited, and Siri may continue to be delayed.

The variable of tariffs

The series of economic data to be released this week and the uncertainty of tariff policies will pose a test to the US stock market and even bring uncertain risks to the global financial market.

Among them, the biggest variable is undoubtedly the tariff policy of the Trump administration. It is learned that the US Court of Appeals for the Federal Circuit will hear the opinions of both sides before June 9 and rule in the coming days whether to permanently overturn the US Court of International Trade’s ruling that blocked Trump’s “reciprocal tariffs”.