Group 1 - The trade deficit in the U.S. widened to a four-month high in July, reaching $78.3 billion, an increase of nearly 33% from the previous month, exceeding economists' expectations of $78 billion [1] - Imports surged by 5.9% month-over-month, marking the largest increase of the year, driven primarily by a rise in industrial goods imports [1] - The trade deficit with China expanded for the first time in six months, while the deficit with Mexico slightly increased and the deficit with Canada also widened after hitting a record low in June [1] Group 2 - Monthly fluctuations in trade data have contributed to volatility in the U.S. GDP measurement, reflecting clearer understanding of import tariffs among businesses following agreements with key trade partners [2] - Ongoing trade negotiations between the Trump administration and China continue, with a recent court ruling deeming most of the tariff measures implemented by Trump as illegal, although these measures can remain in effect until October 14 for an appeal to the Supreme Court [2]

Core Viewpoint - President Trump has stated that he does not plan to reduce the current 50% import tariffs on India, which includes tariffs imposed due to India's purchase of Russian oil [1][3] Group 1 - Trump emphasized that the U.S.-India relationship is "very friendly," but he believes that New Delhi previously imposed "huge tariffs" on U.S. goods, which were among the highest globally [3]

从汽车制造商通用汽车到运动服装品牌耐克，众多美国企业因特朗普的进口关税而利润暴跌。高盛 银行估计，美国企业承担了约五分之三的关税成本。 ...

Group 1 - LME copper prices increased due to slower-than-expected US job growth in July and a weaker dollar, leading traders to bet on potential Fed rate cuts [1] - As of August 1, LME three-month copper rose by $19.5, or 0.2%, closing at $9,630.5 per ton [2] - The US copper market stabilized after a significant drop, with Comex copper prices recovering by 1.6% to $4.423 per pound, or $9,751 per ton [3] Group 2 - Comex copper inventories surged by 176% from March to July, reaching a 21-year high of 233,977 tons [3] - LME available stocks more than doubled in July, hitting a three-month high of 127,475 tons [4] - The premium of Comex copper over LME prices has limited the outflow of US inventories, with the premium decreasing significantly from historical highs [5] Group 3 - Codelco's El Teniente copper mine is facing reduced copper extraction operations due to an accident, although processing facilities remain operational [5]

Core Insights - The announcement by President Trump to exclude refined copper from a 50% import tariff led to a significant price drop in COMEX copper, with prices falling over 20% within an hour of the announcement [1] - The copper market experienced its second circuit breaker activation in less than a month, indicating high volatility and market sensitivity to tariff announcements [1][2] Group 1: Market Reactions - COMEX copper prices plummeted by 22% to $4.5030 per pound, equivalent to $9,927 per ton, triggering a rapid liquidation of long positions [1] - The trading halt occurred for two minutes due to the dynamic circuit breaker mechanism, which is activated when price fluctuations exceed ±10% within a rolling 60-minute window [2] Group 2: Tariff Implications - The White House announced that starting August 1, a 50% tariff will be imposed on various imported copper products, while raw copper inputs and scrap copper will be exempt from these tariffs [1] - The premium of COMEX copper over the London Metal Exchange (LME) benchmark has narrowed significantly from approximately $3,000 per ton to around $10 per ton, reflecting changes in market dynamics since the tariff proposal [2]

Core Viewpoint - The National Restaurant Association has urged the U.S. government to reconsider proposed tariffs on food and beverage imports, highlighting significant potential losses for the restaurant industry [1] Group 1: Economic Impact - A proposed 30% tariff on food and beverage imports from Mexico and Canada could result in a loss of $15.16 billion for the U.S. restaurant industry [1] - Small businesses may face a profit loss of 35% due to these tariffs [1] Group 2: Supply Chain Concerns - The association expressed concerns over potential tariffs on imports from Brazil and the European Union, which could exacerbate supply chain pressures [1] - Increased costs for essential items such as coffee, beef, wine, and spirits are anticipated if these tariffs are implemented [1]

Group 1 - The core point of the article is that President Trump has announced a 50% tariff on imported copper semi-finished products and high-copper-content derivatives starting from August 1 [1] Group 2 - The announcement was made public on the White House website on July 30 [1] - This tariff is part of the broader trade policy measures being implemented by the U.S. government [1] - The decision may impact various industries that rely on copper imports, potentially leading to increased costs for manufacturers [1]

Core Viewpoint - The White House announced that former President Trump will evaluate the implementation of a phased 15% universal import tariff on refined copper starting January 1, 2027 [1] Group 1 - The potential tariff aims to address trade imbalances and support domestic copper production [1] - The decision reflects ongoing discussions about trade policies and their impact on the U.S. economy [1] - The evaluation process will consider the implications for both consumers and industries reliant on refined copper [1]

"美联储传声筒"NickTimiraos文章称，美联储对其政策声明几乎未作改动，表明无意暗示可能降息。美 联储官员们将基准政策利率维持在4.25%至4.5%的区间，以权衡进口商、零售商和消费者将如何分担进 口关税上调带来的成本。关于谁将承担关税负担的激烈争论的结果将决定今年晚些时候通胀和就业的走 势，并可能决定央行在未来几个月是否以及何时恢复降息。 ...

Core Insights - In June, U.S. core capital goods orders unexpectedly declined, indicating a slowdown in equipment investment as the effects of preemptive purchasing before tariff increases faded [1] - The month-over-month change in non-defense capital goods orders, excluding aircraft, fell by 0.7%, contrary to the expected growth of 0.2% [1] - The May data was revised upward to a growth of 2.0% [1] Equipment Investment Trends - Core capital goods shipments increased by 0.4% in June, down from 0.5% in May [1] - Some businesses are beginning to delay capital expenditure plans due to heightened uncertainty regarding the final levels of tariffs [1] Manufacturing Sector Outlook - A survey by S&P Global indicated that the preliminary manufacturing PMI for July fell into contraction for the first time since December of the previous year [1] - S&P noted that while import tariffs provided some protective effects, rising prices and increased costs have become greater concerns for businesses [1]