关税扰动进入“退烧期”，换来短期回暖

Group 1 - The market may experience short-term stability as Trump's intimidation tactics are less impactful than before [3] - Recent US-China negotiations have achieved a phase result that calms global markets, but Trump's claims of significant achievements are viewed skeptically [3][4] - Trump announced potential high tariffs on ten economies if agreements are not reached by early July, causing immediate reactions in the US capital markets [4] Group 2 - The perceived benefits from the US-China negotiations include access to rare earth products and a significant disparity in tariff increases, with the US imposing 55% and China 10% [3][4] - The negotiations took place in the UK, which is seen as a high-stakes posture from China, and the temporary nature of rare earth supply agreements may not favor the US in the long run [4]