白宫在声明中指出， 此次加税是"为应对加拿大持续的不作为和报复行为"，并称总统"认定 有必要以提高税率的方式，有效应对当前的紧急局势" 。 来源：央视新闻客户端 白宫：特朗普已签署行政令 将对加拿大关税税率上调至35% 当地时间7月31日，白宫表示，美国总统特朗普已签署行政令， 将对加拿大的关税税率从 25%上调至35%，新关税将于8月1日生效。 白宫方面还表示，该举措是特朗普政府近期一系列关税调整的一部分。此前，白宫还发布行 政令，对部分国家重新设定"对等关税"税率标准：行政令附件1中列明国家将适用个别税率， 未列明国家则统一适用10%的税率；如有国家或地区通过第三地转运方式规避关税，其商品 将被征收40%的转运税。 特朗普：加拿大对巴勒斯坦的立场不会影响关税协议达成 当地时间7月31日，美国总统特朗普表示， 加拿大对巴勒斯坦的立场不会影响关税协议达 成，加拿大必须"支付一个公平的税率" 。特朗普称他尚未与加拿大总理卡尼交谈。 特朗普称，墨西哥已同意立即取消其设置的许多非关税贸易壁垒。美国将在未来90天内与墨 西哥进行磋商，目标是在90天或更长时间内签署贸易协议。双方将继续在边境安全的各个方 面开展合作，包 ...

美国白宫：特朗普签署行政命令，修改对某些国家的对等关税税率。美国总统特朗普签署行政命令，将 加拿大关税从25%提高到35%，更高的关税将于2025年8月1日生效。 （文章来源：金十数据） ...

美国总统特朗普签署行政命令，将加拿大关税从25%提高到35%，更高的关税将于2025年8月1日生效。 ...

Group 1 - The EU and the US have reached a trade agreement that aims to reshape the transatlantic trade relationship valued at €1.7 trillion ($2 trillion), with the EU agreeing to cut tariffs on most US products by 55%, reducing tariffs to about one-third of current levels if the agreement is enacted [1] - The EU Trade Commissioner acknowledged that this is the best agreement achievable under difficult circumstances, with mixed reactions from EU member states, some expressing anger and others recognizing the benefits of repairing US-EU relations [2] - The agreement announced on July 27 is based on political principles and lacks legal binding, with a complete joint statement expected to be released by August 1, but the final legal text will require several months of negotiation [3] Group 2 - Starting August 1, the US will reduce tariffs on nearly all EU exports, including cars and parts, from 27.5% to 5%, covering 70% of EU exports to the US, which amounts to approximately €80 billion ($43.5 billion) [4] - Additional arrangements include addressing US import quotas on EU steel and protecting supply chains from currency fluctuations [5] - The negotiations are driven by deeper concerns regarding security and energy, as the EU seeks to reduce its reliance on Russian gas and strengthen military ties with the US [6] Group 3 - The agreement is seen as favoring US industries, potentially enhancing their competitive position, although economists warn that the costs of tariffs will be borne by US consumers in the short term [7] - European leaders have criticized the agreement, with French officials expressing that yielding to the US undermines the values of free nations [8] - The euro has experienced fluctuations, dropping to a five-week low after the announcement, while the automotive industry in the EU faces significant pressure due to the reduced tariffs on US cars and parts [9]

Summary of Key Points Agreements Reached - The UK has reduced the baseline tariff from 25% to 10%, with exemptions for automotive and aerospace products, while negotiations continue on steel, aluminum, and digital services tax [1] - Vietnam has lowered the baseline tariff from 46% to 20%, with a 40% punitive tariff on goods transshipped to the US, and has committed to zero tariffs on all US goods [1] - Indonesia has decreased tariffs from 32% to 19%, eliminating tariffs on 99% of US goods and addressing non-tariff barriers [1] - The Philippines has reduced tariffs from 20% to 19%, with commitments to open markets and zero tariffs, alongside enhanced military cooperation [1] - Japan has lowered the baseline tariff from 25% to 15%, becoming the first major economy to secure lower tariffs for the automotive sector, and has pledged $550 billion in investments in the US [1] Additional Agreements - The EU has reduced the baseline tariff from 30% to 15%, covering various products while exempting certain items, and has committed to $600 billion in investments and $750 billion in energy product purchases from the US [2] - South Korea has lowered the baseline tariff from 25% to 15%, with commitments of $350 billion in investments and $100 billion in energy purchases from the US, while maintaining original rates on semiconductors and steel [2] Agreements Not Reached - Canada faces a potential 35% tariff if no agreement is reached by August 1, with ongoing negotiations described as "intense" [3] - Mexico is at risk of a 30% tariff, with discussions between the US and Mexican presidents planned as the deadline approaches [3] - India is facing a 25% tariff starting August 1, with additional unspecified penalties, while seeking a reciprocal agreement with the US [3] - Australia currently has a 10% baseline tariff, which may rise to 15%-20%, with no recent updates on negotiations [3] - Brazil is set to face a 50% tariff starting August 6, with certain products exempted, while the Brazilian president expresses willingness for constructive dialogue [3]

Core Points - The global trade negotiations have intensified as the August 1 tariff deadline approaches, with representatives from major U.S. trading partners gathering in Washington for last-minute discussions [1][2] - President Trump has announced plans to impose higher tariffs on countries that fail to reach agreements, specifically a 25% tariff on Indian goods, which is higher than the 15%-20% range for other Asian countries [1] - The U.S. financial markets remain resilient, with the S&P 500 index reaching an all-time high, despite warnings from some Wall Street institutions about the potential economic impacts of changing trade policies [1][5] Negotiation Dynamics - Key allies such as Canada and Mexico have sent delegations to engage in closed-door talks with U.S. officials as the deadline nears [2] - Canadian Prime Minister Mark Carney expressed cautious optimism regarding the negotiations, indicating that they may not conclude by the August 1 deadline [3] - A preliminary trade agreement has been reached with South Korea, with a 15% tariff announced by Trump, who stated that South Korea will invest $350 billion in U.S. projects [3] Trump's Intervention - President Trump has taken a hands-on approach in the negotiations, often overruling senior aides and demanding more concessions from other countries [4] - His direct involvement includes personal calls with Indian trade officials, emphasizing a tough stance on negotiations with major economies while treating smaller nations differently [4] - A new executive order is expected to be signed by Trump to finalize tariff rates, avoiding a return to previously announced levels [4] Market Reactions - Despite the tense diplomatic environment, U.S. financial markets have shown remarkable resilience, with the S&P 500 and the dollar reaching multi-month highs [5] - Analysts from Morgan Stanley caution against complacency, suggesting that the market may underestimate the impact of U.S. trade policies [8] - U.S. Treasury Secretary Mnuchin downplayed the potential negative effects of retaliatory tariffs, indicating that short-term tariffs may not lead to significant economic disruption [8]

欧洲葡萄酒和烈酒从8月1日起将面临15%的美国关税 金十数据7月31日讯，欧盟官员和外交官周四表示，从8月1日起，欧洲葡萄酒和烈酒进入美国将面临 15%的关税，直到双方谈判达成新的协议为止，相关磋商预计将在秋季继续进行。目前，美国对欧洲葡 萄酒和烈酒征收的关税是10%。欧盟方面希望将该税率降至零，或者至少针对葡萄酒，采用最惠国税率 （MFN），即按照每升固定金额计算，而不是按百分比征税。当被问及"如果未能达成新协议，从8月1 日起欧盟葡萄酒和烈酒生产商将面临何种关税"时，一位欧盟官员表示："15%。"一位高级外交官表 示，"（相关谈判）可能会在秋季进行。我的理解是他们会按15%的固定税率征税，但烈酒的情况不太 明朗，因为早前存在一项旧协议，可能仍然有效，适用于零关税或最惠国关税。" ...

Report Industry Investment Rating - Copper: Neutral [5] - Arbitrage: Suspended [5] - Options: short put @ 77,000 yuan/ton [5] Core Viewpoints - The 50% tariff does not cover refined copper, leading to a significant decline in the Comex premium. If the over 250,000 tons of Comex copper inventory flows back into the market, it may impact copper prices again. Therefore, a wait - and - see approach is recommended for now [5] Summary by Relevant Sections Market News and Important Data - **Futures Quotes**: On July 30, 2025, the Shanghai copper main contract opened at 78,910 yuan/ton and closed at 78,930 yuan/ton, up 0.11% from the previous trading day's close. The night - session main contract opened at 78,640 yuan/ton and closed at 78,700 yuan/ton, down 0.47% from the afternoon close [1] - **Spot Situation**: The domestic electrolytic copper spot market has a tight supply pattern, with a significant strengthening of spot premiums. The SMM1 electrolytic copper is priced at 79,200 - 79,370 yuan/ton, with a premium of 130 - 200 yuan/ton to the current - month contract. The average premium is 165 yuan/ton, up 55 yuan/ton from the previous day. It is expected that the short - term premium will remain firm [2] Important Information Summaries - **Macro and Geopolitical**: The White House announced a 50% tariff on semi - finished products like copper tubes and wires, exempting raw materials such as cathode copper and ores. This caused the COMEX copper price to plummet by up to 20% on the day, and the Comex - to - LME price difference has shrunk to about 5% [3] - **Mining End**: Glencore plans to cut about $1 billion in costs by the end of 2026 and has raised the long - term profit forecast for its commodity trading division from $2.2 - 3.2 billion to $2.3 - 3.5 billion. The trading division had a profit of $1.35 billion in the first half of the year [3] - **Smelting and Imports**: The Comex premium has weakened significantly due to the tariff exemption of refined copper, and it has recovered to about 5% of the LME price. If the over 250,000 tons of US copper inventory flows back into the market, it may impact copper prices [4] - **Consumption**: Last week, copper prices fluctuated within a narrow range. Due to the end of the month, downstream consumption had limited growth. However, due to some processing enterprises' rush to export, market demand was relatively stable, and downstream enterprises mainly made just - in - time purchases [4] - **Inventory and Warehouse Receipts**: LME warehouse receipts changed by 225 tons to 136,850 tons, SHFE warehouse receipts changed by 1,890 tons to 19,973 tons. On July 28, the domestic electrolytic copper spot inventory was 120,300 tons, a change of 6,100 tons from the previous week [4] Data Tables - **Spot (Premium/Discount)**: The premium for SMM 1 copper (premium copper) is 165 - 180, for flat - copper is 150, for wet - process copper is 25, the Yangshan premium is 60, and LME (0 - 3) is - 52 [27] - **Inventory**: LME inventory is 136,850 tons, SHFE inventory is 73,423 tons, and COMEX inventory is 229,909 tons [27][28] - **Warehouse Receipts**: SHFE warehouse receipts are 19,973 tons, and the proportion of LME cancelled warehouse receipts is 15.20% [28] - **Arbitrage**: The spread between CU08 - CU06 (continuous third - near - month) is - 30, between CU07 - CU06 (main - near - month) is 0, CU07/AL07 is 3.83, CU07/ZN07 is 3.48, and the import profit is - 313 [28]

Group 1 - The Central Committee of the Communist Party of China will hold its fourth plenary session in October, emphasizing the need for macro policies to continue and enhance efforts to boost consumption and strengthen the domestic capital market [1] - The Ministry of Commerce of China expressed welcome for foreign investment, including from U.S. companies, to share development opportunities [2] - The National Development and Reform Commission has allocated a budget of 90 billion yuan for childcare subsidies, with applications opening in late August [3] Group 2 - The Hubei humanoid robot fund has launched with an initial investment of 5 billion yuan, focusing on the development of robotics technology [6] - The China Coking Industry Association has called for an increase in coke prices, with specific price adjustments announced for various types of coke effective July 31 [7] - The Dalian Commodity Exchange has adjusted trading limits for certain contracts related to industrial silicon and lithium carbonate [8] Group 3 - CATL reported a net profit of 30.5 billion yuan for the first half of the year, a year-on-year increase of 33.02%, and announced a cash dividend of 10.07 yuan per share [9] - Vanke A announced a loan of up to 869 million yuan from Shenzhen Metro Group [10] - Long River Power plans to invest approximately 26.6 billion yuan in the Gezhouba shipping capacity expansion project [10] Group 4 - Lide Man plans to acquire up to 70% of a tuberculosis diagnostic screening company, which is expected to constitute a major asset restructuring [11] - Dongxin Co. announced ongoing product optimization for its chip products, which have not yet generated revenue [12] - The stock of Hehua Co. is suspended due to plans for a change in control [13] Group 5 - The Federal Reserve maintained its target range for the federal funds rate at 4.25% to 4.50%, marking the fifth consecutive decision to keep rates unchanged [15] - The U.S. government announced a 50% tariff on imported semi-finished copper products effective August 1 [18] - The U.S. stock market showed mixed results, with the Dow Jones down 0.38% and the Nasdaq up 0.15% [21] Group 6 - Microsoft reported fourth-quarter revenue of $76.44 billion, a year-on-year increase of 18%, exceeding expectations [22] - Qualcomm's third-quarter adjusted revenue was $10.37 billion, a 10% increase year-on-year, with adjusted net income rising by 25% [23]

Group 1 - The U.S. will impose a 15% tariff on imports from South Korea, a 25% tariff on goods from India, and a 40% tariff on Brazilian products, leading to a total tariff of 50% on Brazil [1][2] - The U.S. will also impose a 50% tariff on semi-finished copper products and copper-intensive derivatives starting August 1 [3][4] - The trade agreement with South Korea includes a commitment of $350 billion for U.S.-controlled investment projects and $100 billion in liquefied natural gas or other energy products [1] Group 2 - The U.S.-India trade deficit is significant, with a reported $458 billion surplus for India, and the total goods trade volume projected at $128.8 billion for 2024 [2] - The tariffs on Brazil exclude certain products such as wood pulp, oil products, and some fertilizers [2] - Following the announcement of tariffs, copper prices in New York fell nearly 20% [4]