SZAP(SZ:000061) Sou Hu Cai Jing·2025-11-18 16:15Group 1 - The core point of the article is that the Trump administration's recent decision to relax tariffs on certain agricultural products is a response to domestic pressures, particularly inflation and electoral concerns, rather than a well-thought-out policy strategy [1][8][20] - The inflation rate in the U.S. remains high, with the Consumer Price Index rising 3.4% year-on-year in September, causing significant financial strain on low-income households [3][6] - Agricultural states are facing severe challenges, with exports of soybeans and pork to Asia dropping by 12% due to tariffs, leading to excess inventory and price drops [5][10] Group 2 - The tariff relaxation primarily targets imported fruits and vegetables, while maintaining high tariffs on staple crops like wheat and corn, indicating a selective approach to tariff adjustments [10][12] - The U.S. domestic fruit and vegetable industry is struggling due to adverse weather conditions and rising labor costs, necessitating the tariff adjustments to prevent further price increases for consumers [12][14] - The policy reflects a broader diplomatic strategy, with potential tariff relaxations for allied countries while maintaining pressure on strategic competitors, showcasing a differentiated tariff approach [14][16] Group 3 - The U.S. policy shift is likely to have global repercussions, benefiting soybean producers in Brazil and Argentina, who are already improving logistics and reducing export taxes to capture market share [18][20] - The long-term implications for the U.S. agricultural sector could be detrimental, as shifting supply chains may lead to permanent loss of market share [20][22] - For China, the impact of the U.S. tariff changes is minimal, as it has diversified its agricultural imports significantly, reducing reliance on U.S. products [20][22]