全球巨震！对等关税全面停止？

Core Points - The U.S. International Trade Court ruled that President Trump's imposition of tariffs under the International Emergency Economic Powers Act (IEEPA) exceeded legal authority, declaring the trade deficit as a "national emergency" [1][3][5] - The court's decision prohibits the enforcement of the "reciprocal tariffs" announced on April 2, emphasizing that tariffs must be uniform and have nationwide effect [2][6] - The ruling indicates that the IEEPA does not grant the president authority to implement "global tariffs" or "retaliatory tariffs," and the court found no significant factual disputes, leading to a summary judgment against the U.S. government [3][5] Impact of the Ruling - The court's decision mandates the cancellation of the reciprocal tariffs and those previously imposed on China, Canada, and Mexico related to the fentanyl issue, giving the White House 10 days to cease these tariffs [8] - Following the ruling, the Trump administration immediately filed an appeal [7] - Analysts suggest that the ruling could lead to a temporary easing of tariffs, which may positively impact the U.S. dollar and stock market if the decision holds [12] Market Reactions - The ruling has led to increased trading activity in the A-share market, with significant inflows into stock ETFs observed, indicating a shift in investor sentiment [14][27] - Despite recent inflows, there were notable outflows from major indices like the CSI 300 and CSI 500, suggesting volatility in market confidence [22][25] - The overall trading volume in the A-share market has fluctuated, with a return to over 1 trillion yuan in trading on certain days, reflecting active capital market conditions [27]