Apple(US:AAPL) Sou Hu Cai Jing·2025-08-11 07:40Group 1 - The average tariff rate in the U.S. has risen to 18.3%, marking a significant increase from 2%-3% earlier this year, indicating a shift towards unilateral protectionism [3][4] - The tariffs have resulted in substantial financial losses for companies, with Apple reporting an $800 million loss in Q2 and an expected additional $1.1 billion in Q3 due to tariffs [4] - Consumers are increasingly concerned about inflation, with one-year inflation expectations rising to 3.1% and three-year expectations remaining at 3% [2][3] Group 2 - There is a growing caution regarding the job market, with the likelihood of unemployment in the next year increasing by 0.4 percentage points to 14.4% [3] - The tariffs are causing structural damage to the U.S. manufacturing sector, with the potential to weaken investment and employment or drive inflation higher [6] - The U.S. Treasury Secretary has threatened secondary tariffs on countries purchasing sanctioned Russian oil, particularly targeting China, which could face 100% punitive tariffs [6][8] Group 3 - The ongoing trade tensions and tariff increases are accelerating the global process of "de-dollarization," posing risks to the post-World War II global economic order [8] - China's significant control over rare earth production is a critical factor in the trade negotiations, highlighting the strategic vulnerabilities of U.S. high-end manufacturing [8] - The rhetoric from Chinese officials emphasizes that there are no winners in a tariff war, suggesting a long-term perspective on the consequences of these trade policies [8]