交通运输／科技行业动态点评：贸易摩擦中跨境电商及物流寻求破局

Investment Rating - The report maintains an "Overweight" rating for the logistics and internet sectors [5]. Core Insights - The report highlights that trade tensions are impacting cross-border e-commerce and logistics, with potential price increases for Chinese goods exported to the U.S. due to a 10% tariff and the cancellation of the $800 exemption for small packages [1][3]. - It suggests that cross-border e-commerce platforms may need to adjust their business models and supply chains in response to these changes, particularly companies like Pinduoduo and Alibaba [3]. - The logistics sector, particularly air freight, is expected to face manageable negative impacts, as airlines can adjust flight schedules to mitigate risks [4]. Summary by Sections Trade Tariffs and Logistics Events - The U.S. has imposed a 10% tariff on imports from China and canceled the exemption for small packages, which may affect cross-border e-commerce operations [2]. - The U.S. Postal Service temporarily suspended package acceptance from China but resumed operations shortly after [2]. Impact of New Tariffs - The new tariffs are likely to increase the prices of cross-border e-commerce goods and reshape supply chains, with a significant impact expected from the cancellation of the small package exemption [3]. - The report notes that the 10% tariff may reduce the price competitiveness of Chinese goods in the U.S. market, but the overall competitive landscape remains stable [3]. Logistics Sector Response - Cross-border logistics companies are expected to adapt to changes in e-commerce supply chains, with air freight remaining a crucial growth area [4]. - Airlines may mitigate potential declines in cargo volume by increasing flights to emerging markets and adjusting their operations accordingly [4].