关税“黑天鹅”来袭，后续如何博弈？——美国4月2日关税政策点评

Group 1 - The tariff increase in both magnitude and scope exceeds market expectations, with over 180 countries facing new "reciprocal tariffs" announced by Trump on April 2 [2] - The highest tariffs are imposed on Lesotho at 50%, followed by Cambodia at 49%, Laos at 48%, and Vietnam at 46%. China faces a 34% tariff, while South Korea, Japan, the EU, and the UK face tariffs of 25%, 24%, 20%, and 10% respectively [2] - The new tariffs are expected to take effect on April 9 [2] Group 2 - The small-value exemption policy for goods exported from China, previously allowing items valued under $800 to be exempt from tariffs, will be officially canceled on May 2. A 30% tariff or $25 per item will be imposed, increasing to $50 per item after June 1 [3] - This policy had been briefly suspended in early February [3] Group 3 - Certain industries, including steel, aluminum, automotive, gold bars, copper, pharmaceuticals, semiconductors, and wood products, will not be affected by the reciprocal tariffs [4] - A 25% tariff on automobiles will take effect on April 3 [4]