墨西哥政府公开将加税目的定义为 "强化国内生产、扭转贸易逆差"，但这一政策的实际效果面临多重质疑。数据显示，墨西哥 2024 年对华贸 易逆差为 186 亿美元，占其总贸易逆差的 42%，但简单通过加税缩减逆差的逻辑存在明显缺陷 —— 该国制造业高度依赖中国原材料进口，加税 将直接推高生产成本，反而可能削弱本土产品竞争力，进一步扩大逆差。 关税政策对墨西哥本土经济的冲击已显现端倪，制造业界的反对声浪持续高涨。墨西哥全国工业协会警告，机械、电子等依赖中国原材料的行 业将面临成本上涨 30%-40% 的压力，部分中小企业可能因供应链断裂陷入停工危机。对普通消费者而言，关税转嫁将导致家电、电子产品等物 价大幅上涨，在墨西哥当前通胀率仍维持在 5% 以上的背景下，可能进一步加剧民生压力与社会矛盾。 全球贸易格局近期突发重大调整，墨西哥参众两院于 12 月 10 日正式通过全新关税法案，计划自 2026 年1月 1 日起，对中国、印度、韩国等未 签署自贸协定的亚洲国家加征关税，其中轻型汽车等核心品类税率从 20% 飙升至 50%，覆盖约 1100 种商品。这一政策打破墨西哥此前的贸易 中立姿态，不仅让中墨贸易关系面临严 ...

Here's the latest. President Trump signaling Canada, India and Mexico could get hit with a fresh round of levies. With the Supreme Court expected to rule on his sweeping global tariffs before the end of the year, Jean Scirocco, executive director of the Port of Los Angeles, writing If there is less tariff and trade uncertainty that will stabilize the supply chain, we're all waiting on the Supreme Court ruling on tariffs.Jean Scirocco joins us here in New York. Wonderful to see you. I do want to start on jus ...

（原标题：商务部副部长凌激分别与德国汽车工业协会主席和欧洲汽车工业协会主席举行视频会谈） 凌激应询介绍了安世半导体的有关情况，并强调，造成全球半导体供应链混乱的根源在荷方。中方始终 本着负责任态度，及时采取出口许可豁免措施，尽最大努力减少对汽车产业不利影响。希望德国及欧洲 汽车工业协会发挥积极作用，推动安世半导体尽快找到稳定全球供应链的解决方案。 穆勒表示，德中汽车产业合作成果丰硕，德国车企持续加大在华投入，深化与中方伙伴战略合作。德国 汽车工业协会反对欧盟对华电动汽车征收反补贴税，高度关注安世半导体问题进展，期待企业通过对话 解决内部纠纷。 康林松表示，近年来包括奔驰在内的欧洲车企不断提高本地化水平，深度融入中国汽车产供链发展，以 实现"在中国、为全球"战略。期待欧中双方以务实态度寻找电动汽车反补贴案解决方案，加强欧中产供 链合作，为双方汽车产业合作营造良好氛围。 近日，凌激副部长兼国际贸易谈判副代表分别与德国汽车工业协会主席穆勒及欧洲汽车工业协会主席、 奔驰集团董事长康林松举行视频会谈。双方就中德和中欧汽车产业和供应链合作交换意见。 凌激表示，中欧汽车产业深度融合。欢迎欧洲车企继续投资中国，与中方合作伙伴 ...

Core Viewpoint - The restructuring process of Shanshan Group has made new progress, with Fangda Carbon announcing its intention to participate in the substantive merger restructuring of Shanshan Group and its wholly-owned subsidiary, Ningbo Pengze Trading Co., Ltd. [1][4] Group 1: Shanshan Group Restructuring - Fangda Carbon's participation in the restructuring does not constitute a related transaction or major asset restructuring, and there remains uncertainty about whether it will become a formal restructuring investor [1][4] - Shanshan Co., Ltd. focuses on lithium battery anode materials and polarizers, achieving an operating revenue of 14.809 billion yuan, a year-on-year increase of 11.48%, and a net profit attributable to shareholders of 284 million yuan, a year-on-year increase of 1121.72% in the first three quarters of 2025 [4] - The core assets of the restructuring include a 23.32% stake in Shanshan Co., Ltd., most of which is pledged or judicially frozen, along with shares in Huishang Bank, Shanshan Medical Investment, real estate, and approximately 9.598 billion yuan in receivables [4] Group 2: Previous Investment Attempts - In September, TCL Technology planned to participate in the merger bankruptcy restructuring through a consortium but the restructuring plan proposed by the consortium was not approved by the creditors' meeting, leading to the termination of the investment agreement [4] - On November 7, the restructuring manager announced the termination of the original investment agreement and continued to publicly recruit interested investors [4] Group 3: Fangda Carbon's Strategy - Fangda Carbon, part of the "Fangda system," aims to participate in the restructuring as an industrial synergy partner to accelerate its anode industry layout, achieve integration of the industrial chain, stabilize the supply chain, and enhance its profitability and core competitiveness [5]

继杉杉集团首次重组草案意外流产之后，重整计划的新重整投资人遴选已经悄然开始。第一个选择广而告之的意向投资者，为 长袖善舞的"方大系"。 11月24日晚间，"方大系"旗下方大炭素（600516）(600516.SH)公告，同意公司作为产业协同方参与杉杉集团有限公司及其全资 子公司宁波朋泽贸易有限公司的实质合并重整投资人招募，同时授权公司管理层代表公司拟定和提交重整投资的报名资料、签 署尽职调查保密协议、开展尽职调查、提交《重整投资方案》等各项工作。 疑似受到消息驱动，方大炭素11月25日收盘以涨停报收，报6.51元/股；杉杉集团旗下杉杉股份（600884）(600884.SH)收涨 5.74%。 另据21世纪经济报道获悉，目前杉杉集团及宁波朋泽已经开启新一轮重组，流程仍将按照初选，终选，以及债权人委员会投票 的方式决定。 "上周宁波方面组织召开了一个意向投资者的沟通会，方大炭素位列其中。"有接近重组的知情人士告诉21世纪经济报道记 者："其中方大炭素不是早一届遴选的意向投资者，而是这轮遴选的全新参与方。" 从经营层面来看，方大炭素的主业整体呈现明显萎缩态势。2022年至2024年，方大炭素分别实现营业总收入52 ...

Core Viewpoint - The company has approved participation in the restructuring investment recruitment of Shanshan Group and its wholly-owned subsidiary Ningbo Pengze Trading Co., Ltd, aiming to enhance its negative electrode industry layout and supply chain stability [1] Group 1 - The board meeting is scheduled for November 24, 2025, to review the proposal for participation in the restructuring [1] - The company aims to achieve industrial chain integration and improve profitability and core competitiveness through this restructuring [1] - There are uncertainties regarding the restructuring investment, including the possibility of becoming a formal restructuring investor and the effectiveness of the integration [1]

Core Viewpoint - The company emphasizes the importance of restoring its legitimate control and shareholder rights over Nexperia Netherlands, urging for constructive and sincere solutions to ensure the stability of the global semiconductor supply chain [1][2]. Group 1 - The company has expressed concerns regarding unilateral actions by Nexperia Netherlands that pose potential threats to the stability of the global semiconductor industry [2]. - The company has shown willingness to engage in constructive communication with Nexperia Netherlands to resolve the current disputes and restore legitimate control [2]. - The company calls for all parties to act rationally and responsibly to maintain the stability and prosperity of Nexperia Semiconductor and ensure the safety of the global supply chain [1][2].

Core Insights - The Dutch government's decision to suspend the administrative order against ASML Semiconductor reflects a shift towards rationality in response to global supply chain pressures, signaling a positive development for the semiconductor industry [1][4][5] Group 1: Government Actions and Responses - The Dutch Minister of Economic Affairs, Kaag, announced the suspension of the administrative order against ASML Semiconductor to demonstrate goodwill and continue constructive dialogue with the Chinese government [1] - The Chinese Ministry of Commerce welcomed the Dutch decision, viewing it as a step towards resolving the underlying issues affecting the global semiconductor supply chain [1][3] Group 2: Implications for Supply Chains - The initial freezing of control over ASML Semiconductor by the Dutch government due to "national security" concerns disrupted the global automotive supply chain, leading to a chip supply crisis for manufacturers in the US, Europe, and Japan [1][2] - The suspension of intervention indicates a return to a more rational decision-making process, which is crucial for maintaining the stability of the semiconductor supply chain [4][5] Group 3: Lessons for the Dutch Government - The incident highlights that "national security" cannot be an all-encompassing justification for limiting foreign enterprises, as the backlash from the industry was more severe than anticipated [2] - The Dutch government recognized the importance of respecting the interconnectedness of technology supply chains, particularly in the case of ASML Semiconductor, which plays a critical role in global chip production [2] Group 4: Future Cooperation and Industry Dynamics - The suspension of intervention may lead to a reevaluation of risk perceptions within Europe, encouraging a more balanced approach to relations with China [4] - The event underscores the potential for cooperation between China and Europe in the semiconductor sector, indicating that there remains significant collaborative space in the foundational chip supply chain [4]

证券日报网讯新易盛（300502）11月17日在互动平台回答投资者提问时表示，公司一直与供应商保持良 好合作，通过多种方式优化采购成本，以保障供应链稳定和产品的市场竞争力。 ...

Core Viewpoint - The article highlights the increasing importance of stability in international economics and supply chains, particularly in the competitive automotive manufacturing industry, while criticizing the Dutch government's recent actions as detrimental to global cooperation [1][3]. Group 1: Impact on Supply Chains - China's Commerce Minister Wang Wentao urged the Dutch government to resolve supply chain disruptions caused by interference in corporate operations, indicating a warning against the Dutch government's actions [1]. - The Dutch government's collaboration with the U.S. prior to its actions against companies has raised concerns about its disregard for market economy principles and transparency [3]. - The actions of the Dutch government have forced clients of ASML to bypass the company and establish direct connections with Chinese factories to ensure their production plans, which undermines the competitive position of the Netherlands in this niche market [3][5]. Group 2: Long-term Industry Implications - Clients of ASML are being prompted to diversify their partnerships as a strategy to mitigate risks associated with unreliable dependencies, with companies like Wingtech Technology building new wafer fabs in China that could exceed ASML's total capacity in Europe [5]. - The situation reflects a broader struggle for the future of the Dutch automotive industry, as short-sighted actions may lead to self-destructive outcomes in a tightly interconnected global economy [5]. - The article suggests that the true winners in the international arena will be those countries that seek cooperative opportunities rather than isolating themselves [5][6]. Group 3: Future Outlook - The coming months will be critical in determining whether the Dutch government can rationally address the fallout from its recent decisions, which will also serve as a test for global supply chains in finding new balance points [7]. - The article emphasizes that cooperation is essential for long-term success in the international market, warning that countries relying solely on intervention and exploitation will struggle to thrive [6][7].