特朗普承认关税不可持续，道指大涨；澳大利亚拒绝脱钩，中美贸易再掀波澜

Group 1 - The core message of the article highlights the unsustainable nature of extreme tariffs, particularly a 100% tariff on imports from China, as acknowledged by Donald Trump, which led to a rebound in the Dow Jones index, indicating market recognition of the economic limits of such policies [1][9][15] - The impact of tariffs is not isolated; they affect price transmission and production capacity, with companies typically passing some tax burden downstream. However, under extreme tariff conditions, the ability to pass on costs is limited, leading to shifts in order flows [2][10] - The technology sector is experiencing contrasting fortunes, exemplified by Nvidia's significant loss of market share in China, dropping from 95% to 0% due to export controls, which has allowed domestic competitors to fill the void [2][11] Group 2 - The divergence among allies is evident, as Australia publicly stated its intention to maintain trade with China, emphasizing the importance of critical minerals, which contrasts with the U.S. push for collective action against China [5][9] - Specific actions at the port level, such as the additional fees imposed on U.S. flagged vessels, reflect a reciprocal approach to trade regulations, indicating that while costs may increase, business operations continue under predictable rules [7][10] - The interplay between port fees and chip market dynamics illustrates the direct impact of policy on businesses, with increased fixed costs in shipping and a complete loss of market share in high-performance chips prompting companies to reassess their profit and risk calculations [8][12] Group 3 - The U.S. aims to exert pressure on China through allied support, but Australia's stance complicates this strategy, highlighting the challenges of unilateral actions and the increased costs associated with them [9][15] - The recent developments indicate that the costs of unilateral actions are rising, as evidenced by the responses of U.S. companies to new regulations and the immediate market reactions to policy shifts [11][14] - The article suggests that the future of corporate and policy interactions will depend on finding sustainable operational methods within new constraints, with potential adjustments in shipping costs and domestic replacements for high-tech products [14][16]