ZGXT(SZ:000831) Sou Hu Cai Jing·2025-05-20 10:48Group 1 - The core viewpoint of the news is that the recent joint statement from the US and China regarding trade talks indicates a positive tone, which may help ease the current tensions in US-China economic relations and reduce global uncertainties caused by the US tariff war [1][3]. - The US has not reduced tariffs by 80% or 50%, but has instead canceled two recent tariff increases from April 8 and 9, and suspended a 24% tariff from April 2, leaving only a 10% additional tariff in place [3]. - China has also reduced its tariffs to 10%, but the tariffs imposed after April 2 have not been directly canceled, only "suspended or canceled" [3]. Group 2 - The US is facing a significant drop in Chinese goods inventory due to a halt in shipments from China, which necessitates resolving tariff issues to ensure American retailers have products to sell [3]. - The US is particularly interested in securing a stable supply of rare earth elements from China, which are crucial for military and industrial applications, and the current restrictions on exports from China have raised concerns in the US [5]. - Despite the potential for a trade agreement, there are uncertainties, including the unpredictable nature of US President Trump and the bipartisan consensus in the US that views China as a major challenge [5][7]. Group 3 - China has shown resilience in the face of the US tariff and trade wars, maintaining a stronger economic fundamental compared to the US, suggesting that prolonged trade conflicts may ultimately harm the US more [7]. - The willingness of China to engage in direct dialogue with the US, despite being the primary victim of the trade war, indicates a desire for constructive negotiations, which the US should recognize and appreciate [7]. - The global perception of China's sincerity in negotiations is growing, while the US's approach is increasingly seen as one of isolation due to its hegemonic practices [7].