21世纪经济报道记者吴斌 上海报道 随着投资者对贸易战的担忧再度加剧，过去一周，美股三大指数累计跌幅均超过2%，纳指跌2.47%，标 普500指数跌2.61%，道指跌2.47%。 据央视新闻报道，当地时间5月23日，美国总统特朗普在社交媒体上表示，建议从2025年6月1日起对欧 盟产品直接征收50%的关税，而如果产品在美国制造或生产，则无需缴纳关税。欧盟设置了强大的贸易 壁垒、征收增值税、企业罚款、非货币贸易壁垒、货币操纵、针对美国公司不公平且不合理的诉讼等。 同一天，特朗普还表示，对不在美国生产的手机制造商征收25%的关税，将在6月底前对苹果公司和三 星征收关税。 受关税消息冲击，上周五标普500指数收跌0.67%，报5802.82点，连续四天下跌；纳指跌1%，报 18737.21点；道指跌0.61%，报41603.07点。 不过，目前有限的跌幅显示，市场目前并不完全相信美国会在6月1日对欧盟加征50%的关税，"朝令夕 改"的关税政策仍充满不确定性，市场仍在观望这些威胁落地的可能性。 不确定性高悬 面临关税不确定性，美国经济笼罩在滞胀阴霾下，9月前美联储或不会下调利率。 纽约联储主席威廉姆斯表示，政策制定者 ...

伦敦海运咨询公司德路里上周五发布的报告显示，3月下旬至5月中旬期间，德国不来梅港的泊位等待时间跃升77%。同期，安特卫普港的延误时间增加 37%，汉堡港增加49%，鹿特丹港和英国费利克斯托港的等待时间也有所延长。 智通财经APP获悉，一份新报告显示，北欧主要门户港口和其他枢纽港的拥堵状况正在恶化，贸易战可能会将海运中断蔓延至亚洲和美国，并推高航运费 率。 欧洲一些最繁忙的港口拥堵情况加剧 劳动力短缺和莱茵河水位偏低是主要原因，阻碍了往返内陆地区的驳船运输。加剧这些制约因素的是，美国总统特朗普暂时取消对中国进口商品加征145% 的关税，这提前释放了全球两大经济体之间的航运需求。 德路里表示："港口延误延长了运输时间，扰乱了库存规划，并迫使托运人增加库存。雪上加霜的是，跨太平洋东行贸易显示出旺季提前的迹象，原因是美 中关税90天的暂停期将于8月14日结束。"该机构表示，中国深圳以及洛杉矶和纽约也出现了类似的情况，"自4月下旬以来，等待泊位的集装箱船数量一直在 增加"。 总部位于汉堡的赫伯罗特股份公司首席执行官罗尔夫•哈本•詹森上周在一个网络研讨会上表示，尽管他最近看到了欧洲港口改善的迹象，但他预计"还需要 六到八 ...

Core Viewpoint - The U.S. International Trade Court is expected to make a ruling on a preliminary injunction that could potentially nullify the 10% tariffs imposed by Trump on April 2, which has been largely overlooked by the market as a potential positive risk [1][2]. Group 1: Legal Challenge and Implications - The legal challenge centers around Trump's authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA), with plaintiffs arguing that the President does not have the power to bypass Congress for such measures [2][3]. - The plaintiffs, represented by the conservative Liberty Justice Center, assert that the IEEPA does not grant the President the authority to impose broad tariffs without specific events or international developments [3][4]. - The case has garnered support from notable Republican figures, emphasizing the constitutional issue of whether executive power can override congressional fiscal authority [3][5]. Group 2: Court's Role and Potential Outcomes - The relatively obscure U.S. Trade Court in Manhattan has jurisdiction over national tariff and trade disputes, and its decisions could set significant precedents for future presidential use of the IEEPA [6][7]. - The court's ruling, regardless of the outcome, will have implications for the constitutional distribution of powers and could either embolden or restrict future trade policies under the current administration [7]. - If the court grants the injunction, it would halt the implemented 10% tariffs and any pending reciprocal tariffs, potentially reshaping ongoing negotiations with the EU, Japan, and India [1][7]. Group 3: Business Reactions - Many large U.S. companies are currently taking a wait-and-see approach regarding the lawsuit, partly due to fears of political retaliation, while smaller businesses are more affected by cost pressures and are leading the challenge [8]. - The potential for more challenges to arise in the next two years is noted, indicating a growing discontent among businesses regarding the tariff policies [8].

Market Performance - The S&P 500 index decreased by 2.6% this week, while the Nasdaq fell by 2.5%[3] - Among sectors, only the Household & Personal Products sector saw an increase of 1%, while the Technology Hardware & Equipment sector dropped by 6.3%[3] Fund Flows - Estimated fund outflow from S&P 500 components was $11.115 billion this week, compared to an inflow of $25.71 billion last week[4] - Three sectors experienced fund inflows: Healthcare Equipment & Services (+$200 million), Media & Entertainment (+$170 million), and Household & Personal Products (not significant)[4] Earnings Forecast - The dynamic F12M EPS forecast for S&P 500 components was adjusted upward by 0.2% this week, following a 0.1% increase last week[5] - The Automotive & Auto Parts sector saw the largest upward revision of +0.7%, while the Food & Staples Retailing sector was revised down by -1.1%[5] Economic Risks - Key risks include uncertainties in economic fundamentals, international political situations, U.S. fiscal policy, and Federal Reserve monetary policy[5]

中新网5月25日电(甘甜)对哈佛大学下手、威胁对欧盟征收高额关税，同时向苹果"开炮"，这几天，美 国总统特朗普动作不断，也接连引发舆论争议，甚至让爱尔兰总理马丁直呼，其表态"令人极为失望"。 先是哈佛大学与美国政府的斗争骤然升级。 当地时间5月22日，美国政府宣布，取消哈佛大学获得的学生和交流学者项目资质，禁止该校招收国际 学生。 哈佛大学随即批评此举"非法"，并将美国政府告上了法庭。 尽管法官暂时叫停了"禁招令"，但许多学生仍难掩担忧。有学生形容称，哈佛校内"如今弥漫着一股沮 丧情绪"，"我不太确定未来的计划，只能静观其变"。 舆论争议持续发酵，国际学生们何去何从？美国政府会否让步？ 5月23日，特朗普在白宫被问及是否正考虑对其他美国高校采取同类措施，只是回答："我们正在考虑很 多事。哈佛必须改变它的方式，其他(高校)也需要改变。" 同美国高校的争斗还未结束，特朗普又将矛头对准欧盟和苹果。 当地时间23日一早，特朗普在社交媒体上连发两帖。 对于欧盟，特朗普放话，"建议自2025年6月1日起，对欧盟商品统一征收50%关税。若产品在美国本土 生产制造，则免征关税。" 对于苹果，特朗普批评称，他"很早之前就告诉过 ...

Core Viewpoint - The European Union (EU) is responding to President Trump's threat of imposing a 50% tariff on EU goods starting June 1, emphasizing the need for negotiation and a balanced power dynamic to avoid a trade war [1][2]. Group 1: EU's Response to Tariff Threat - Laurent Saint-Martin, the French Minister for Foreign Trade, stated that Trump's tariff threat is unhelpful for EU-US negotiations and warned that a 50% tariff would lead to retaliatory measures from the EU, which would be unsustainable for the US as well [1]. - Saint-Martin expressed hope for finding common interests between the EU and the US to lower tariffs instead of escalating into a trade war [1]. - He highlighted that the current situation is not caused by any European country and that trade wars are detrimental to all parties involved, including the US [1]. Group 2: Importance of Power Balance - Saint-Martin emphasized the necessity for the EU to demonstrate its strength and maintain a healthy power balance in negotiations, suggesting that the EU should prepare for proportional retaliatory measures against US products [1][2]. - He noted that the EU has advantages such as a market of 450 million consumers and a single market, which should be leveraged to defend its interests [2]. - The EU is currently suspending tariffs on a range of US products for 90 days while negotiations continue, indicating a willingness to engage in dialogue [1].

Core Viewpoint - The potential for a trade war between the US and EU has escalated following President Trump's threat to impose a 50% tariff on EU imports, leading to significant market concerns and stock market declines on both sides of the Atlantic [1] Group 1: US Actions and Statements - President Trump criticized the EU as "very difficult to deal with" and proposed increasing tariffs from the current 20% to an additional 30%, which would raise the total to 50% [1] - The US Treasury Secretary expressed hope that this would prompt action from the EU [1] - Trump previously implemented a strategy of imposing a 145% tariff on Chinese imports, indicating a pattern of aggressive trade measures [1] Group 2: EU Responses and Strategies - European officials are attempting to maintain a calm and united front, emphasizing the need for continued negotiations [2] - Dutch Prime Minister stated that the situation is part of negotiations and they will respond firmly [2] - Swedish Finance Minister described Trump's threats as an unreasonable escalation that could harm the US-EU economy, advocating for more free trade [2] - German Economic Minister warned of the negative consequences of such tariff disputes, stressing the need for a negotiated solution [2] Group 3: Potential Retaliation and Preparedness - Former US Treasury official indicated that the EU might consider retaliatory measures if Trump's threats are enacted [3] - The EU is prepared to impose tariffs on €21 billion worth of US goods in response to US metal tariffs, with implementation potentially expedited if negotiations fail [3] - A further list of €95 billion worth of US products is being prepared for tariffs, targeting items such as Boeing aircraft and American-made cars [3]

特朗普再度挥动关税大棒， 威胁对欧盟商品征收50%关税，此外，特朗普还点名苹果和三星，表示 对不在美国生产的手机制造商征收25%的关 税，并称 将在六月底前对苹果公司和三星征收关税。 此言论也在欧洲金融市场引发震荡，重要股指纷纷下挫。 关税担忧再起，周五美股也全线下挫， 截至收盘，道指跌0.61%，纳指跌1.00%，标普 500指数跌0.67%。 本周，道指累计跌2.47%，标普500指数跌2.61%，纳斯达克指数跌2.48%。 | A HS 港股 | 美股 全球 | 某余 | 期货 曲家 | | --- | --- | --- | --- | | 亚太市场收盘 | 欧洲市场收盘 | | 北美市场收盘 | | * 恒生指数 | 疆 英国富时 | | ■ 道琼斯 | | 23601.26 | 8718.27 | | 41603.07 | | +56.95 +0.24% | -20.99 -0.24% | | -256.02 -0.61% | | · 上证指数 | 德国DAX | | ■ 纳斯达克 | | 3348.37 | 23623.82 | | 18737.21 | | -31.82 -0.94% | -3 ...

Group 1 - The core viewpoint of the articles highlights the escalation of the trade war initiated by President Trump, proposing a 50% tariff on the EU starting June 1, which has reignited concerns about the impact of tariffs on the global economy and trade [1][2] - The US dollar index fell by 0.8% to 99.10, marking a three-week low, with a total weekly decline of 1.9%, the largest since mid-April [1] - The dollar's exchange rate against the Japanese yen dropped by 1% to 142.42, with a cumulative decline of 2.2% for the week, potentially the largest weekly drop since April 7 [1] Group 2 - Market sentiment is negatively affected by a loss of confidence in US policies, with countries reassessing their reliance on the US due to the ongoing trade war [2] - The correlation between the dollar and the stock market has broken down, with both declining simultaneously, indicating that the dollar has not served as a safe-haven asset this year [2] - Investors are increasingly focused on the US's $36 trillion debt and the potential increase in debt from Trump's tax plan, which has passed the House and is set for Senate debate [2]

道琼斯工业平均指数下跌256点，跌幅0.61%；标普500指数下跌0.67%；纳斯达克综合指数下跌1%。 在标普500的主要板块中，科技板块领跌，跌幅达1.33%，非必需消费品与通信服务板块也表现疲软。 相比之下，公用事业、日常消费品、能源和房地产板块则小幅上涨。 特朗普威胁对不在美国本土生产的苹果产品收取25％关税，并随后进一步表示，对手机产品征收的关税 将不仅限于苹果，三星等其他制造商也将被纳入其中。他说："这不仅仅是针对苹果，还包括三星和任 何制造该产品的企业，否则就不公平。" 他还补充说，如果企业选择在美国设厂，就不会面临关税。 在特朗普进一步澄清其言论后，市场略有反弹，收窄部分跌幅。 特朗普23日还威胁说，欧盟在贸易方面"很难打交道"，美欧之间的贸易磋商"毫无进展"。因此，他建议 自6月1日起对进口自欧盟的商品征收50%关税。 当日，市场情绪还受到财政前景不确定性的打压，投资者担心近期的财政政策措施（特朗普的税收法 案）可能在穆迪下调美国信用评级之后，进一步使美国赤字增加数万亿美元。 新华财经纽约5月23日电（刘亚南谢哲澍）由于美国总统特朗普最新的关税威胁引发投资者不安，美国 股市23日显著低开，盘 ...