韩美将于10日恢复关税谈判，目标是7月初达成协议 金十数据5月20日讯，韩国和美国本周将在华盛顿就美国的对等关税措施举行第二轮技术性磋商。为期 三天的会议将于周二（美国时间）开始。双方正在努力达成一项"一揽子"贸易协定，目标是在7月初达 成。会谈将涵盖六个关键问题：贸易不平衡、非关税壁垒、经济安全、数字贸易、产品原产地规则和商 业因素。这是继5月1日举行的第一次实务磋商之后的又一次协商。 ...

据报道，当地时间5月15日，美国总统特朗普在卡塔尔表示，印度已同意不对美国商品收取任何关税。然而，此前刚刚有媒体透露，印度对美态度硬气起来 了，从积极谈判，到提议对美加征关税。据路透社和彭博社消息，当天，特朗普在卡塔尔首都多哈与企业高管会面时表示："在印度销售产品非常困难，但 他们向我们提出一项协议，基本上愿意不向我们收取任何关税。"特朗普并未透露更多细节，也并未表示美国是否将降低对印度关税或对印零关税。 莫迪（资料图） 眼见着中国对美国关税战发起了反击，并取得了不错的结果，印度方面也蠢蠢欲动。5月13日，印度向世贸组织提起了诉讼，指控美国对印度钢铝产品加征 25%的关税违反了贸易协议。按照印度的说法，该国每年向美国出口76亿美元的钢铝产品，美国加征关税平白让其损失了25亿美元。不仅如此，莫迪政府还 叫嚣要对美国商品实施对等报复。结果，美国总统特朗普大怒，狠狠打脸了莫迪，威胁要对印度商品加征500%的关税。这一下子，莫迪反而消停了不少。 不是所有国家都能复制中国的成功，中国是全球最大的制造业中心，也是全球第二大经济体，具备和美国正面掰手腕的实力，而印度虽然人口世界第一，但 经济总量只有中国的五分之一，而且印度 ...

针对关税问题，欧盟突然强硬起来！ 来看详细报道！ 欧盟对美强硬表态 据参考消息援引西班牙《阿贝赛报》网站15日报道，欧盟成员国贸易部长已经排除接受与美国达成类似英国所 签署协议的可能性，英国已经承担了10%的基础关税，以避免对汽车和金属征收其他税费。 报道称，15日的欧盟贸易部长会议是在华盛顿决定"暂停"所谓"对等关税"90天之后的第37天召开的。根据"对 等关税"，美国将对欧盟产品征收20%的关税。布鲁塞尔已经威胁说，如果达不成协议，将以两个独立的一揽 子方案进行反击，而这两个方案可能会影响到总价值达1160亿欧元的美国商品。 欧盟理事会轮值主席国波兰的经济部长米哈乌·巴拉诺夫斯基表示，欧洲不会"满足于"与英国类似的协议。他 说："我认为我们可以取得比保持很高关税更好的结果。" 报道称，此前欧盟向美国提出相互取消任何工业产品的所有关税，但特朗普政府仍执迷不悟地要求欧盟对其在 欧洲销售的产品免征增值税。 另据观察者网援引《华尔街日报》15日报道，数名欧盟国家官员当天放风称，欧盟与美国的关税谈判正在取得 进展，欧盟寻求达成一项关税降幅大于美英、中美协议的贸易协定。有欧盟官员指出，美国给英国和中国开出 的条件不足 ...

Group 1 - The core point of the article is the evolving trade relationship between the US and India, with India initially agreeing to eliminate tariffs on US goods but later showing a tougher stance by proposing to increase tariffs on certain US products [1][7]. - President Trump mentioned that selling products in India is challenging, but India has proposed an agreement to not impose tariffs on US goods, although details remain undisclosed [1][2]. - India is negotiating a trade agreement with the US, with proposals to reduce tariffs on 60% of goods to zero and provide preferential access for nearly 90% of US imports [2][7]. Group 2 - Trump expressed concerns about high tariffs in India, stating he prefers Apple to manufacture in the US rather than India, which he described as having some of the highest tariffs globally [3][5]. - India aims to become a smartphone manufacturing hub, with significant exports of iPhones to the US, reaching nearly $2 billion in March [5]. - The US is India's largest trading partner, with a projected bilateral trade volume of approximately $129 billion in 2024, and India has a trade surplus of $45.7 billion with the US [5][7]. Group 3 - Recent reports indicate a shift in India's approach to trade negotiations, moving from a cooperative stance to proposing retaliatory tariffs against the US, which may be a strategic negotiation tactic [7][8]. - The proposed retaliatory tariffs are seen as a sign of India's willingness to assert itself as an equal trade partner, especially after the US recently reduced tariffs on Chinese products [8]. - Indian officials have indicated that the planned retaliatory tariffs will be part of the ongoing trade negotiations with the US [7][8].

Group 1 - The global market is experiencing a chaotic pullback, with risk assets declining across Asia, including China, South Korea, Japan, and Hong Kong, while gold has also seen a significant drop, falling below $3200 per ounce [3] - The current market situation indicates a lack of consensus among investors, making it difficult to accumulate funds in a single direction for a breakthrough [3] - Despite the pullback, there is still short-term support in the market, particularly as the U.S. stock market, especially tech stocks, has shown significant rebounds, although the U.S. bond market remains under pressure [3] Group 2 - The U.S. needs to continue its efforts to support the market through both messaging and domestic policy, with recent developments in trade agreements with Japan and South Korea [4] - Ongoing trade negotiations between the U.S. and China are progressing, with both sides maintaining close contact following the first phase of talks [4]

Group 1 - The UK will reduce tariffs on car exports to the US from 27.5% to 10%, and steel and aluminum tariffs from 25% to zero, indicating a significant shift in trade relations [1][3] - The UK is set to purchase Boeing aircraft worth $100 billion, which reflects a complex negotiation where tangible costs are exchanged for potential political and economic benefits [1][3] - The reduction in tariffs on steel and aluminum suggests a newfound freedom in trade, but the implications of the aircraft purchase raise questions about the underlying motivations and costs of such agreements [1][3] Group 2 - The negotiation outcome illustrates a balance of gains and losses, akin to a duel where one side may win but at a significant cost, highlighting the complexities of international trade agreements [3][5] - The situation emphasizes the need for countries to strengthen their economic and technological capabilities to avoid being at a disadvantage in future negotiations [5] - Building alliances and diversifying trade relationships can mitigate risks and provide alternative options in the face of challenging trade dynamics [5][6]

白宫新闻秘书莱维特：特朗普总统对未来的更多贸易协定感到兴奋。 ...

为了与特朗普达成贸易协定，印度提出将关税差削减三分之二 更多细节 第三位印度政府官员表示，继英国之后，印度和日本是下两个即将敲定协议的国家。"我们要看看哪一 个先过线。"前两位消息人士称，为了实现这一目标，新德里提出在正在谈判的协议的第一阶段将60% 的关税降至零。其中一位消息人士表示，印度为从美国进口的近90%的商品提供了优惠准入，包括降低 关税。第四名官员表示，一个印度官员代表团可能会在本月晚些时候访问美国，以推进谈判。他补充 说，印度贸易部长皮尤什·戈亚尔也可能访问美国，但他的计划尚未敲定。 更多细节 金十数据5月9日讯，两名消息人士称，为了与特朗普达成贸易协定，印度已提出将与美国的关税差从目 前的近13%削减至不到4%，以换取特朗普"当前和潜在"的关税上调豁免。这将意味着，印度和美国之 间的平均关税差距（按所有产品计算，不考虑贸易额）将减少9个百分点，这是世界第五大经济体为降 低贸易壁垒而做出的最彻底的改变之一。美国是印度最大的贸易伙伴，2024年双边贸易总额约为1290亿 美元。目前的贸易平衡对印度有利，印度对美国的贸易顺差为457亿美元。 更多细节 ...

Report Industry Investment Rating - There is no information about the overall industry investment rating in the report. Core Viewpoints of the Report - The A-share market showed a trend of opening low and rising high, with the military sector remaining hot. The bond market is expected to be volatile and may strengthen in the medium term. The prices of precious metals are under pressure in the short term but may rise in the long term. The shipping index is expected to have a seasonal peak, and the prices of non-ferrous metals, black metals, agricultural products, and energy chemicals are affected by various factors such as supply and demand, policies, and macroeconomics [2][6][9] Summary by Directory Financial Derivatives Financial Futures - **Stock Index Futures**: The A-share market opened low and rose high, with major indices rising. The four major stock index futures contracts also increased, but all had negative basis. The A-share trading volume decreased, and the central bank conducted reverse repurchase operations. It is recommended to sell out-of-the-money put options or go long on the June IM contract [2][3][4] - **Treasury Futures**: Treasury futures closed higher, and the yields of major interest rate bonds decreased. The central bank conducted reverse repurchase operations, and the capital interest rate decreased. It is recommended to go long on dips and pay attention to the capital interest rate, fundamentals, and tariff negotiations [5][6] Precious Metals - Gold prices fell significantly due to the easing of trade risks and the outflow of long funds. Silver prices were relatively stable. In the long term, gold prices may rise due to economic recession risks and diversification needs. In the short term, they are under pressure due to the improvement of risk appetite. It is recommended to be cautious in unilateral operations or sell out-of-the-money call options [9][10][11] Container Shipping Index - The quotes of leading shipping companies were relatively stable. The SCFIS European line index decreased, while the US West line index increased. The global container shipping capacity increased, and the demand in the eurozone and the US was weak. It is recommended to go long on the August contract or widen the August - June spread [12][13] Commodity Futures Non-Ferrous Metals - **Copper**: The spot price of copper decreased, and the premium decreased. The supply was affected by the accident at the Antamina copper mine, and the demand was stable. The price is expected to fluctuate, and it is recommended to pay attention to the pressure level of 77,500 - 78,500 [13][16][18] - **Zinc**: The spot price of zinc increased, but the trading volume was poor. The supply of zinc ore was loose, but the production of refined zinc was affected by maintenance. The demand was weak, and the price is expected to fluctuate weakly. It is recommended to pay attention to the range of 21,500 - 23,500 [18][19][21] - **Tin**: The spot price of tin increased, and the trading volume increased slightly. The supply of tin ore was tight, but the supply is expected to recover. The demand was improved by policies, but the outlook is pessimistic. It is recommended to have a short - biased view on rebounds [21][22][23] - **Nickel**: The spot price of nickel decreased, and the trading volume was average. The supply of nickel ore was tight, and the price of nickel iron decreased. The price is expected to fluctuate, and it is recommended to pay attention to the range of 122,000 - 128,000 [23][26] - **Stainless Steel**: The spot price of stainless steel was stable, and the trading volume was poor. The supply was excessive, and the demand was slowly recovering. The price is expected to fluctuate weakly, and it is recommended to pay attention to the range of 12,600 - 13,000 [27][29] - **Lithium Carbonate**: The spot price of lithium carbonate decreased, and the trading volume was light. The supply increased, and the demand was average. The price is expected to be weak, and it is recommended to pay attention to the range of 63,000 - 68,000 [31][34] Black Metals - **Steel**: The spot price of steel decreased, and the production was high. The demand decreased during the May Day holiday, and the inventory increased. The profit of blast furnace steel mills was stable, while that of electric furnace steel mills was in loss. It is recommended to wait and see in unilateral operations and pay attention to the arbitrage operation of going long on steel and short on raw materials [35][36] - **Iron Ore**: The spot price of iron ore decreased, and the futures price also decreased. The demand for iron ore was high, but the supply increased. The inventory decreased slightly. The price is expected to be under pressure, and it is recommended to pay attention to the policy and the terminal demand of steel products [37][38] - **Coke**: The spot price of coke had demand support, but the second price increase was blocked. The supply increased, and the demand was stable. The inventory decreased. It is recommended to hold the strategy of going long on hot - rolled coils and short on coke [39][40][41] - **Coking Coal**: The spot price of coking coal decreased, and the futures price also decreased. The supply was high, and the demand was average. The inventory was high. It is recommended to hold the strategy of going long on hot - rolled coils and short on coking coal [42][44] - **Silicon Iron**: The spot price of silicon iron was stable, and the futures price increased slightly. The supply decreased slightly, and the demand was weak. The price is expected to fluctuate [45][46] - **Manganese Silicon**: The spot price of manganese silicon decreased, and the futures price increased slightly. The supply decreased, and the demand increased slightly. The inventory increased. The price is expected to fluctuate weakly [48][50] Agricultural Products - **Meal Products**: The price of US soybeans fluctuated, and the price of domestic soybean meal followed weakly. The domestic soybean meal market price was mixed, and the trading volume increased. The supply of US soybeans was sufficient, and the domestic soybean arrival was abundant. It is recommended to pay attention to the support near 2,900 [51][53] - **Hogs**: The spot price of hogs fluctuated slightly. The supply of hogs was stable, and the demand was weak. The price is expected to remain volatile, and it is recommended to pay attention to the performance of secondary fattening and slaughter [54][55] - **Corn**: The spot price of corn was strong, and the price was in a high - level shock. The supply of corn was tight, and the demand was limited. The price is expected to be supported in the long term but may be under pressure in the short term. It is recommended to go long on dips [57][58] - **Sugar**: The price of raw sugar fluctuated weakly, and the domestic sugar price followed. The supply of sugar was expected to increase, and the domestic supply - demand situation was loose. It is recommended to have a short - biased view on rebounds in the medium - long term [59]

Group 1 - The announcement of a significant trade agreement between the US and the UK was made by President Trump, which is expected to strengthen future relations between the two countries [1][3] - The UK government confirmed the news, but some UK officials were surprised by the announcement, indicating that negotiations had been productive but not necessarily conclusive [3][4] - The trade agreement is seen as limited and short-term, primarily addressing tariffs on specific goods rather than a comprehensive trade deal [5][6] Group 2 - The UK plans to reduce or eliminate its digital services tax in exchange for concessions from the US, which currently generates approximately £800 million annually for the UK government [4] - The agreement allows the UK to export 100,000 cars to the US at a 10% baseline tariff, which is crucial for the UK automotive industry, particularly given the 25% tariff on cars [4][5] - The overall impact of the agreement on the UK economy is expected to be minimal, with the automotive sector representing less than 1% of the UK's GDP and the agreement not significantly improving economic growth prospects [5][6]