点评中美日内瓦经贸会谈联合声明：中美关税冲突短期缓和

Tariff Adjustments - Both parties agreed to reduce tariffs by 115 percentage points[2] - The U.S. will lower tariffs on Chinese goods to 10% within 90 days, while China's counter-tariffs will also drop to 10%[6] - The overall U.S. tariff on China could range from 40% to 50% when considering previous tariffs[6] Market Reactions - The significant tariff reductions indicate a consensus against extreme trade decoupling, potentially easing market risk appetite[2] - Following the announcement, U.S.-China stock index futures rose, the RMB appreciated, and the U.S. dollar index increased[6] Future Negotiations - A mechanism will be established for ongoing trade discussions, with a critical 90-day negotiation period ahead[3] - The U.S. is expected to push for further concessions from China, including market access and service trade improvements[7] Risks and Considerations - The potential for tariff fluctuations remains, influenced by Trump's unpredictable trade policies and ongoing ideological conflicts[8] - Specific tariffs on products like pharmaceuticals and semiconductors may still be implemented as part of strategic supply chain adjustments[8] Overall Outlook - The report suggests a cautious optimism regarding the potential for a "Phase 2" trade agreement, but emphasizes the need for close monitoring of developments[8]