Apple(US:AAPL) Sou Hu Cai Jing·2025-10-20 13:00Group 1 - The trade policies initiated by the Trump administration have led to significant disruptions in global trade dynamics, with unilateral tariffs causing inflation and economic downturns in the U.S. [2][3] - The tariffs imposed on steel and aluminum, as well as the high tariffs on Chinese goods, are projected to increase U.S. inflation by 1.2 percentage points and reduce global trade volume by 1% [2][3] - The agricultural sector in the U.S. has been particularly hard hit, with exports to China dropping by 32% in the first quarter, resulting in a loss of $15 billion [5][9] Group 2 - Consumer confidence in the U.S. has plummeted to its lowest level in three years, impacting factory profits and leading to increased layoffs [3] - The trade war has prompted retaliatory tariffs from Canada and Japan, adversely affecting U.S. exports of automobiles and aircraft [5][9] - The global response to U.S. tariffs has been overwhelmingly negative, with over 50 countries criticizing U.S. unilateralism and exploring alternatives to the dollar [5][7] Group 3 - The tariffs are seen as undermining the foundation of U.S. economic hegemony, with allies potentially shifting their partnerships due to the trade policies [7][9] - Despite the challenges, China's economy has shown resilience, with a projected increase in foreign investment and growth in domestic consumption [7][9] - The trade conflict has complicated relationships with allies, leading to a potential decline in global economic growth rates as estimated by the IMF [9]