特朗普深夜痛斥，贸易战僵局进一步加深 - 彭博

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The ongoing trade tensions between the United States and China have reached a stalemate, with both sides unwilling to make significant concessions, leading to a potential escalation in bilateral relations [4][5][6] - Trump's administration is focused on high-level negotiations with China, but there is a fundamental disconnect in negotiation styles, making it difficult to reach an agreement [6][21] - China is signaling a shift towards strengthening trade relations with Europe, especially in light of the tariffs imposed by the Trump administration, indicating a strategic pivot in its trade policy [16][17] Summary by Sections - Trade Negotiations: Trump's desire for high-level talks contrasts with China's reluctance to engage without prior concessions, resulting in a deadlock [4][5][6] - Economic Impact: The trade war has led to supply chain disruptions, particularly in industries reliant on rare earth materials, with U.S. companies feeling the strain of tightened supplies [11][13] - China's Strategy: China is looking to diversify its trade relationships, particularly with Europe, as it navigates the complexities of U.S. trade policies [16][21] - Historical Context: The current trade dynamics are markedly different from previous negotiations, with China now better positioned to withstand U.S. pressures due to its diversified market strategies [21]