Group 1 - The Pakistani government announced that a trade agreement will lead to reciprocal tariff reductions, particularly on export tariffs from Pakistan to the United States [1]

Core Viewpoint - The Pakistani government claims that the trade agreement will lead to reciprocal tariff reductions, particularly on export tariffs from Pakistan to the United States [1] Group 1 - The trade agreement is expected to lower tariffs, enhancing trade relations between Pakistan and the United States [1] - The focus of the tariff reductions will primarily benefit Pakistani exports to the U.S. market [1]

Group 1 - The core viewpoint is that non-tariff barriers are a significant challenge that the European Union needs to address [1] - The EU's value-added tax (VAT) is considered a form of subsidy [1] - There is a desire to see reductions in VAT and tariffs [1] - Several trade agreements have been established, but many are described as "unilateral" [1]

Group 1 - The core viewpoint is that the White House trade advisor Navarro considers the European Union's value-added tax (VAT) as a form of subsidy and advocates for VAT reductions and lower tariffs [1]

Core Viewpoint - The spokesperson for the Indonesian President stated that U.S. tariffs have been significantly reduced [1] Group 1 - The reduction in U.S. tariffs is expected to positively impact trade relations between Indonesia and the United States [1] - This change may lead to increased exports from Indonesia to the U.S., benefiting various sectors within the Indonesian economy [1] - The Indonesian government is optimistic about the potential economic growth resulting from these tariff adjustments [1]

Core Viewpoint - Indonesia's energy minister stated that the decision to import additional energy from the United States is contingent upon the reduction of tariffs [1] Group 1 - The Indonesian government is considering increasing energy imports from the U.S. to meet domestic demand [1] - Tariff reductions are seen as a critical factor influencing the feasibility of these imports [1] - The energy minister emphasized the importance of trade negotiations in facilitating energy supply [1]

Core Point - The UK Prime Minister, Keir Starmer, is committed to advocating for the reduction of tariffs on UK steel exports to zero by the United States [1] Group 1 - The UK government is actively seeking to improve trade relations with the US, particularly in the steel industry [1] - The reduction of tariffs is seen as a crucial step to enhance the competitiveness of UK steel manufacturers in the global market [1] - The initiative reflects broader efforts to strengthen economic ties between the UK and the US post-Brexit [1]

Core Points - The Director of the National Economic Council, Hassett, indicated that tariffs on certain countries may be reduced to 10% or lower [1] - The reduction in tariffs will apply to countries that provide favorable conditions [1]

Core Viewpoint - The Director of the National Economic Council, Hassett, indicated that tariffs on certain countries may be reduced to 10% or lower, contingent upon favorable conditions from those countries [1]. Summary by Relevant Categories Tariff Changes - Tariffs may decrease to 10% or lower for specific countries [1]. - The reduction in tariffs is dependent on the provision of good conditions by the countries involved [1].

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Report's Core View - The short - term and medium - term views for both coking coal and coke are "oscillation", with an intraday view of "oscillation on the strong side", and the overall reference view is an "oscillation approach" [1]. - For coking coal, policy - side benefits drive a small upward rebound in futures, but the supply - demand relaxation situation restricts the rebound space, and it is expected to maintain low - level oscillation [5]. - For coke, short - term demand is okay and policy benefits improve the market atmosphere, but cost - side pressure from coking coal exists, and it is expected to maintain low - level oscillation [6]. 3. Summary by Related Catalogs Coking Coal - **Price Information**: The latest quotation of Mongolian coal at the Ganqimaodu Port is 1015.0 yuan/ton, with a week - on - week decline of 1.5%, and the equivalent futures warehouse receipt cost is about 988 yuan/ton [5]. - **Market Logic**: The relaxation of overseas pressure due to the Sino - US tariff consensus and a package of domestic favorable policies drive the upward rebound of coking coal futures. However, its weak fundamentals suppress the rebound strength, and the supply - demand relaxation restricts the rebound space [5]. Coke - **Price Information**: The latest quoted price of quasi - first - grade coke at Rizhao Port is 1440 yuan/ton, with a week - on - week flat, and the equivalent futures warehouse receipt cost is about 1583 yuan/ton [6]. - **Market Logic**: The cooling of Sino - US tariff friction drives a small rebound in coke futures. But there is a significant cost - side drag, the slowdown of fundamental benefits, and the limited growth space for molten iron output, so it is expected to maintain low - level oscillation [6].