Group 1 - The core viewpoint is that trade disputes triggered by US tariffs should be resolved through multilateral platforms like the WTO, and there is potential for deeper trade cooperation between the EU and China, particularly in green technology and finance [1][2] - The trade dispute has a broader global impact compared to previous trade wars, with significant uncertainty, especially affecting machinery and transportation equipment, which accounted for over 30% of EU exports to the US in 2024 [1] - Achieving an ideal trade agreement between the EU and the US is challenging due to unclear negotiation goals and the need for a unified stance among EU member states to strengthen their negotiating power [1][2] Group 2 - There is a call for the EU, China, and other pro-multilateralism countries to unite in defending the WTO mechanism and free trade, which could pressure the US to return to multilateral negotiations [2] - The 50th anniversary of EU-China diplomatic relations presents an opportunity to deepen dialogue and cooperation in trade and investment, leveraging complementary advantages [2] - The EU can achieve tangible results in green energy through trade cooperation with China, particularly in areas like battery and electric vehicle development, while China can benefit from the EU's expertise in aerospace, machinery manufacturing, and fintech [2][3]

特朗普以"亲爱的日本先生"为开头的信函为例，说明美国将如何通知贸易伙伴新的关税安排，并称 美国 将对日本汽车征收25%的关税。 他强调，信件将会很快发出，并表示"我们不需要开会，我们了解情况，我们掌握所有数据"。 此前， 特朗普曾在5月16日和6月11日做出类似承诺，表示将在2-3周内发送单边关税信函，但均未兑 现。 与此同时，本周的美日贸易谈判已陷入停滞 。 日本首席关税谈判代表赤泽良生本周在华盛顿的第七轮 部长级谈判未能取得突破，甚至未能与美国财政部长贝森特会面。 美国转向单边关税策略 特朗普此番表态意味着，美国政府正准备放弃通过谈判解决贸易争端的做法。 特朗普在采访中表示： 7月9日"关税大限"将至，特朗普可能亲手终结谈判窗口？ 当地时周日，特朗普在接受媒体采访时表示， 无需延长即将到期的关税期限，将在未来几天内向包括 日本在内的数百个国家发送信函，单方面告知各国对美出口商品的关税税率，而非继续进行贸易谈判。 日本汽车关税成焦点 日美贸易谈判的核心分歧集中在汽车关税问题上。 据媒体报道， 特朗普在采访中特别重申对日贸易长期不平衡的立场，称"他们不买我们的汽车，但我们 却购买数百万辆他们的汽车。这不公平" ...

Group 1 - Goldman Sachs highlights that the upcoming Q2 earnings season will be a critical period for assessing corporate profitability amid the ongoing trade war initiated by the Trump administration, with a projected 10% impact on profits due to tariff increases [1] - The S&P 500 and Nasdaq 100 indices, both at historical highs, are expected to face an "earnings test" as companies attempt to pass on increased costs to consumers, although the effectiveness of this cost transfer remains uncertain [1][4] - The earnings growth rate for S&P 500 constituents is anticipated to slow significantly, with a projected year-over-year EPS growth of only 2.6% for the April to June period, marking the lowest growth rate in nearly two years [4] Group 2 - The divergence in stock performance among companies is evident, with General Mills experiencing a 5% drop due to tariff-related cost pressures, while Nike's stock surged 15% thanks to effective supply chain management [1] - Market analysts note that the unprecedented trade disputes are impacting corporate profits through both cost inflation and demand suppression, leading to a 19% decline in the S&P 500 from its peak in April [4] - Institutional investors are becoming increasingly cautious regarding high-valuation tech giants, with some funds shifting towards consumer staples and manufacturing sectors that possess better cost transfer capabilities [4]

Core Viewpoint - Nornickel anticipates a decline in financial performance for the year due to low metal prices, high interest rates, a strong ruble, and global trade disputes [1] Group 1: Financial Performance - Nornickel expects significant negative impacts on financial indicators due to high geopolitical uncertainty, escalating trade disputes, risks of global economic slowdown, and tightening monetary policies [1] - The company faces challenges from a strong ruble, low metal prices, inflation, and high debt servicing costs [1] - The Russian central bank's key interest rate of 20% is seen as a major drag on the economy, leading to a substantial slowdown this year [1] Group 2: Investment and Dividends - Difficult conditions have forced Nornickel to reduce investments and postpone certain projects [1] - The board of directors has recommended not to pay dividends for the 2024 performance, stating that increasing debt levels to pay dividends is inappropriate [1] Group 3: Market Outlook - Nornickel's vice president, Anton Berlin, predicts that the palladium market will remain balanced in 2025, while the nickel market will be oversupplied [2] - The automotive industry, a major consumer of these metals, is still in crisis [2] - Berlin criticized Indonesia for flooding the global market with cheap nickel, harming other producers, and noted that approximately 40% of nickel producers are currently operating at a loss [2] - Nornickel aims to ensure that global trade disputes do not affect its export volumes and intends to sell all of its produced products [2]

Group 1 - The core issue revolves around Canada's decision to implement a digital services tax (DST) on U.S. tech companies, which has led to heightened tensions in U.S.-Canada trade relations [1][2] - President Trump announced the immediate termination of all trade negotiations with Canada in response to the DST, labeling it a direct attack on the U.S. [1] - The digital services tax will affect both local and international tech companies, including major U.S. firms like Amazon, Google, and Meta, and is set to be enforced starting June 31, 2023 [2] Group 2 - The U.S. and Canada have maintained a close economic relationship, with bilateral goods trade totaling approximately $762 billion in 2023 [2] - Following Trump's announcement, financial markets reacted with the S&P 500 and Nasdaq indices initially declining before recovering to close higher, indicating market sensitivity to trade tensions [1]

Core Viewpoint - China is taking necessary measures to firmly protect the legitimate rights and interests of its enterprises in response to Canada's imposition of additional tariffs on Chinese electric vehicles, steel, and aluminum products, which China claims violate WTO rules [1][4]. Group 1: Dispute Resolution and Tariff Measures - The WTO's Dispute Settlement Body (DSB) has agreed to establish a dispute resolution panel regarding China's complaint about Canada's additional tariffs on electric vehicles and steel/aluminum products [1][2]. - Canada will impose a 100% additional tariff on all imported electric vehicles from China starting October 1, 2024, and a 25% additional tariff on steel and aluminum products from China starting October 22, 2024 [1][2]. - The trade value affected by the 100% tariff on electric vehicles is approximately $1.7 billion, while the tariffs on steel and aluminum products involve $950 million and $720 million, respectively [4]. Group 2: China's Response and Negotiation Stance - China has formally requested consultations and further negotiations regarding the additional tariffs, asserting that these measures are inconsistent with multiple provisions of the GATT [2][3]. - Despite the establishment of a dispute resolution panel, China remains open to constructive dialogue with Canada to amicably resolve the dispute [4][7]. - China's ambassador to Canada emphasized the potential for cooperation in the electric vehicle sector, which could benefit consumers and help Canada achieve its climate goals [4][5]. Group 3: Countermeasures and Additional Disputes - In response to Canada's tariffs, China has initiated an anti-discrimination investigation and announced countermeasures, including additional tariffs on certain Canadian agricultural and seafood products [6][7]. - The countermeasures include a 100% tariff on canola oil, oilseed meal, and peas, as well as a 25% tariff on specific seafood and pork products, effective March 20, 2025 [6].

Group 1 - The core point of the article is that Ascend Performance Materials plans to close its hexamethylenediamine production facility in Lianyungang, China, within the next few months due to market changes and ongoing trade disputes [1] - The Lianyungang facility, which was established less than a year ago, represents Ascend's first overseas chemical production base with a total investment of approximately 4.2 billion yuan [1] - The facility had an annual production capacity of 200,000 tons of hexamethylenediamine, accounting for 15% of China's total capacity for this chemical [2] Group 2 - Ascend's decision to close the Lianyungang plant follows a comprehensive assessment of its long-term viability in a changing market and regulatory environment [1] - The closure is expected to exacerbate the short-term supply tightness of hexamethylenediamine in the market, potentially increasing costs for downstream product manufacturers and leading to price adjustments and market restructuring [2] - Other operations of Ascend in China, such as the Suzhou production base, will continue to operate as usual [1]

据环球时报报道，欧盟委员会日前单方面宣布取消中欧高层经济对话，距中国对欧开放稀土绿色通道仅三天。 欧盟资料图 欧盟资料图 欧盟取消对话的时间点耐人寻味。7月是欧盟对华电动车加征关税的最后决定期限。同时，特朗普威胁对欧盟汽车征收50%关税的言论甚嚣尘上。欧盟显然 试图以"终止谈判"向中方施压，同时向美国展示协调立场以换取关税豁免。冯德莱恩在抱怨美国对欧盟钢铝高关税的同时，却提议"美欧联手对付中国原材 料主导"，被批短视。特朗普政府在中东的军事行动进一步牵制全球注意力。6月21日，美军B-2隐形轰炸机对伊朗三处核设施实施精确打击。特朗普在社交 媒体宣布行动成功并要求伊朗"结束战争"。这种单边行动与欧盟取消对华对话形成战略呼应，强化了西方阵营的对抗姿态。 欧盟委员会以"当前经贸议题缺乏实质进展空间"为由，取消了原定7月下旬举行的中欧高层经济对话。这一决定正值中国刚为欧盟企业开通稀土出口审批绿 色通道三天后。当时，欧盟委员会主席冯德莱恩正在G7峰会现场与美国协调立场。她特意展示由稀土材料制成的磁铁，暗示欧美将联手应对中国在关键资 源领域的主导地位。 贸易争端已造成实质性损害。2025年前四个月，中国对欧电动汽车出口量 ...

Core Viewpoint - The ongoing trade tensions have not diminished Canadian investors' interest in U.S. assets, as they continue to significantly purchase U.S. government bonds [1] Group 1: Investment Trends - In April, Canadian investors net bought 9.2 billion CAD (approximately 6.8 billion USD) in U.S. government bonds, marking the largest single investment since November 2023 [1] - During the same month, amidst escalating tariff tensions, investors also purchased 1.1 billion CAD in U.S. Treasury bonds while reducing their holdings in U.S. stocks [1] - Prior to this, in February, Canadian investors had reached a record high investment in U.S. stocks amounting to 29.8 billion CAD [1]

Group 1 - The World Bank has significantly lowered its global economic growth forecast, with nearly 70% of economies experiencing downward revisions due to tariffs and increased policy uncertainty [1] - The World Bank projects a global economic growth of 2.3% in 2025, a decrease of 0.4 percentage points from the January forecast, marking it as the slowest growth year since 2008 [1] - Developed economies are expected to grow at 1.2% in 2025, with the US growth forecast reduced to 1.4%, the Eurozone at 0.7%, and Japan also at 0.7% [1] Group 2 - Emerging markets and developing economies are projected to grow at 3.8%, a reduction of 0.3 percentage points from the January forecast, with growth slowdowns expected across various regions [2] - The World Bank has not revised its growth forecast for China this year, citing new fiscal policies that can offset the impact of rising trade barriers [2] - Global trade volume growth is expected to be 1.8% and 2.4% for this year and next, respectively, both lower than previous forecasts [2] Group 3 - The World Bank's Chief Economist indicated that resolving trade disputes through agreements could lead to higher global economic growth than currently predicted [4] - The OECD has also downgraded its global economic growth forecast for this year and next, now expecting a GDP growth of 2.9% [4] - The OECD has revised the US economic growth forecast down to 1.6% for this year, while raising the overall inflation expectation to 3.2% [4]