Core Viewpoint - The article highlights that U.S. President Trump has signed an executive order to extend the suspension of tariffs on China for an additional 90 days [1] Summary by Sections - **Tariff Suspension**: The executive order signed by President Trump indicates a continuation of the current tariff suspension measures against China, which may impact trade relations and economic conditions [1]

Core Viewpoint - The World Trade Organization (WTO) has downgraded the global goods trade growth forecast for 2026 from 2.5% to 1.8% due to recent tariff adjustments impacting global trade prospects [1] Summary by Sections Trade Growth Forecast - The WTO predicts a 0.9% growth in global goods trade for 2025, an improvement from the previous forecast of -0.2%, but still below the earlier estimate of 2.7% based on lower tariff levels [1] - The adjustment in the forecast is primarily attributed to U.S. importers stockpiling goods ahead of tariff increases, resulting in an 11% year-on-year increase in U.S. imports in the first half of this year [1] Regional Insights - Asian economies are expected to remain the largest engine for global goods trade growth in 2025 [1] - North America is projected to continue dragging down global trade growth over the next two years, while Europe is anticipated to have a slight negative impact on global trade growth this year [1] Tariff Impact - The WTO Director-General, Ngozi Okonjo-Iweala, highlighted that the comprehensive effects of recent tariff measures are becoming evident, with tariff uncertainty being one of the most destructive forces in the global trade environment, affecting business confidence, investment, and supply chains [1]

Core Points - The new tariff measures signed by President Trump have come into effect, imposing tariffs ranging from 10% to 50% on numerous trade partners, leading to widespread discontent and calls for collective responses from affected nations [1] - The average tariff on imported goods is projected to exceed 18%, marking the highest level since 1934 [1] - Brazil and India are among the countries facing the highest tariffs, with both nations expressing strong resistance to the measures [1] - Switzerland has been particularly affected, facing a 39% tariff, the highest among European countries, which has raised significant concerns for its export-driven economy [3] - Japan, despite having reached an agreement with the U.S., found that the promised tax reductions were not implemented, leading to demands for immediate corrective actions [4] Summary by Category Tariff Implementation - The U.S. Customs and Border Protection began collecting higher tariffs on imports starting at 12:01 AM Eastern Time on July 7 [1] - The tariffs are set between 10% and 50%, significantly impacting trade relationships [1] Affected Countries - Brazil and India are subjected to a 50% tariff, with both countries indicating they will not easily concede to U.S. demands [1] - Switzerland is facing a 39% tariff, which is significantly higher than previously threatened, causing alarm among its export sectors [3] - Japan is facing a 15% tariff, with ongoing negotiations to address discrepancies in previously agreed terms [4] Economic Impact - The tariffs are expected to create substantial pressure on Switzerland's economy, particularly affecting industries such as watchmaking, industrial machinery, chocolate, and cheese [3] - Indian officials have indicated that the tariffs could impact defense procurement plans, although the government later denied any changes to ongoing negotiations [1][3] - The U.S. government's announcement regarding tariffs on transshipped goods is anticipated to target Southeast Asian countries, with potential implications for trade practices [4]

Core Insights - The tariff measures implemented by U.S. President Donald Trump are significantly boosting international stock markets while potentially ending the dominance of the S&P 500 index globally, at least for the time being [1] - International stock markets are expected to outperform the U.S. stock market benchmark for the first time since 2022, and this is also the first occurrence in a bull market environment since 2009 [1] - Concerns regarding the impact of tariffs and trade uncertainties on U.S. corporate profit growth are the primary reasons for this shift [1] Performance Comparison - The MSCI All Country World Index (excluding the U.S.) has significantly outperformed the S&P 500 index, rising by 18% so far in 2025, while the S&P 500 index has only increased by 7.8% [1]

Core Insights - France's trade deficit reached €43 billion in the first half of the year, an increase of €4.4 billion compared to the second half of 2024 [1] - Imports grew by 1.9% year-on-year, while exports only increased by 0.7%, leading to an expanded trade deficit [1] - In Q2 alone, the trade deficit was €22.9 billion, up €2.8 billion from Q1, primarily due to declines in exports of electricity, aerospace products, and ships, alongside a record high in pharmaceutical imports [1] Trade Dynamics - The increase in trade deficit signals a warning for France, especially in light of a new trade agreement between the EU and the US [1] - The French Minister for Foreign Trade, Laurent Saint-Martin, emphasized the need for France and Europe to enhance competitiveness and accelerate efforts to avoid falling behind [1] - US tariff measures are expected to have multiple adverse effects, including rising prices for American consumers and potential global economic slowdown [1] Economic Implications - The new EU-US trade agreement poses a dual threat to France and Europe, with reduced exports to the US and the risk of a global economic slowdown [1]

Core Insights - France's trade deficit reached €43 billion in the first half of the year, an increase of €4.4 billion compared to the second half of 2024 [1] - Imports grew by 1.9% year-on-year, while exports only increased by 0.7%, leading to a widening trade deficit [1] - In the second quarter alone, the trade deficit was €22.9 billion, up €2.8 billion from the first quarter, primarily due to declines in exports of electricity, aerospace products, and ships, alongside record-high imports of pharmaceuticals [1] Trade Deficit Analysis - The increase in trade deficit signals a warning for France, especially in light of new trade agreements between the EU and the US [1] - The French Minister for Foreign Trade, Laurent Saint-Martin, emphasized the need for France and Europe to enhance competitiveness and accelerate efforts to avoid falling behind [1] - US tariff measures are expected to have multiple adverse effects, including rising prices for American consumers and potential global economic slowdown [1] Economic Implications - The trade agreement between the US and the EU poses a dual threat to France and Europe, with reduced exports to the US and the risk of a global economic slowdown [1]

Core Viewpoint - France's trade deficit reached 43 billion euros in the first half of the year, an increase of 4.4 billion euros compared to the second half of 2024, primarily due to higher import growth than export growth [1] Trade Data Summary - In the first half of the year, imports increased by 1.9% year-on-year, while exports grew by only 0.7%, leading to an expanded trade deficit [1] - In the second quarter alone, the trade deficit amounted to 22.9 billion euros, which is an increase of 2.8 billion euros from the first quarter [1] - The decline in exports of electricity, aerospace products, and ships, along with a record high in pharmaceutical imports, contributed to the trade deficit [1] Government Response - Laurent Saint-Martin, the French Minister responsible for foreign trade, indicated that the widening trade deficit serves as a warning signal for France, especially in light of a new trade agreement between the EU and the US [1] - He urged France and Europe to take action to enhance competitiveness and accelerate efforts to avoid falling behind [1] - Saint-Martin also highlighted the negative impacts of US tariff measures, which could lead to higher prices for American consumers and potentially slow global economic growth, posing a dual threat to France and Europe [1]

8月6日，美国对巴西的关税措施生效，巴西总统称，他现在不会打电话给特朗普"自取其辱"。当日，据 路透社报道，巴西总统卢拉称，他认为目前没有与特朗普进行直接谈判的空间。卢拉还表示，他与特朗 普之间并无私人恩怨，但特朗普曾多次"羞辱"白宫来宾。根据7月30日美国颁布的行政令，美国从8月6 日起对巴西输美产品加征40%的从价关税。 ...

"当我的直觉告诉我，特朗普准备好谈判的那一天，我会毫不犹豫地打电话给他"，卢拉在巴西利亚总统 官邸接受路透社采访时表示，"但今天我的直觉告诉我，他并不想谈，我不会自取其辱。" 卢拉表示，巴西正努力与美国展开磋商，眼下政府正专注于采取国内措施以缓解美国加征关税带来的经 济冲击，同时保持"财政责任"。 卢拉还表示，他计划与金砖国家其他领导人通话，首先从印度和中国开始，讨论对美关税应对措施。 报道称，卢拉表示，他与特朗普之间并无私人恩怨，但特朗普曾多次"羞辱"白宫来宾，例如南非总统拉 马福萨和乌克兰总统泽连斯基。 "特朗普对泽连斯基的所作所为是羞辱。这不正常。他对拉马福萨的所作所为也是一种羞辱"，卢拉 说，"一位总统不能羞辱另一位总统。我尊重每一个人，也要求得到尊重。" 【环球网报道】当地时间8月6日，美国对巴西加征的40%"专案关税"正式生效。路透社同日报道称，巴 西总统卢拉在接受该媒体采访时表示，他认为目前没有与美国总统特朗普进行直接谈判的空间，因为那 很可能意味着"自取其辱"。 根据美国政府7月30日颁布的行政令，美国从8月6日起对巴西输美产品加征40%的从价关税。这意味着 在美方4月颁布的所谓"对等关税"行 ...

Group 1 - The total amount of gold futures in the Shanghai Futures Exchange is 35,889 kilograms, with an increase of 144 kilograms compared to the previous day [1][2] - The main gold futures contract opened at 778.50 CNY per gram, reaching a high of 781.78 CNY and a low of 778.42 CNY, currently trading at 781.42 CNY, reflecting a 1.36% increase [1] - The trading volume for the day is 271,828 contracts, with open interest at 217,696 contracts, showing a decrease of 1,072 contracts in daily open interest [1] Group 2 - U.S. Trade Representative Jamieson Greer stated that President Trump's tariffs on multiple countries are likely to remain unchanged in upcoming negotiations [2] - Tariff rates imposed by President Trump include 35% on most goods from Canada, 50% on goods from Brazil, 25% on goods from India, and 39% on Switzerland [2]