Group 1 - The G7 finance ministers' meeting in Canada focuses on the impact of U.S. trade policies, particularly the tariffs imposed by the U.S. government [1] - Canadian Finance Minister Chrystia Freeland emphasized the need to address fundamental issues such as manufacturing overcapacity, non-market behavior, and financial crimes [1] - U.S. Treasury Secretary Janet Yellen aims to encourage G7 allies to respond more effectively to China's economic policies during the meeting [1] Group 2 - There is an expectation that the G7 finance ministers will not announce a new trade agreement, as the U.S. administration prioritizes its own interests [1] - Support for Ukraine and sanctions against Russia are key topics, with Ukrainian Finance Minister Serhiy Marchenko advocating for stronger sanctions during the meeting [1] - The G7 finance ministers are anticipated to issue a statement supporting Ukraine against Russia, although the wording will be broad and not specific regarding sanctions [1]

Group 1 - The IMF calls for the U.S. to reduce its fiscal deficit in light of rising debt burdens, emphasizing that the current deficit is too large [1][2] - Moody's has downgraded the U.S. credit rating due to concerns over increasing debt, with projections indicating that the deficit-to-GDP ratio could rise from 6.4% last year to nearly 9% by 2035 if proposed tax cuts are implemented [1][2] - The U.S. Treasury Secretary attributes the downgrade to the previous administration's policies and expresses a commitment to reducing the deficit-to-GDP ratio to 3% before the end of the Trump administration [1][2] Group 2 - The U.S. debt-to-GDP ratio is projected to reach 98% in the fiscal year 2024, up from 73% a decade ago, indicating a continuous rise in debt levels [2] - Despite expectations of a decrease in the fiscal deficit due to rising tariff revenues, these forecasts do not account for the potential impacts of Trump's tax cut proposals currently under congressional review [2][4] - Concerns over the deficit and Moody's downgrade have led to a weakening of the dollar and a rise in U.S. Treasury yields, with the 10-year Treasury yield reaching 5.04%, the highest level in 2023 [3][4] Group 3 - The expansion of the deficit implies that the government will need to issue more bonds, raising questions about the stability of the U.S. market among domestic and international investors [4] - The IMF has revised down its economic growth forecast for the U.S. in 2025 to 1.8% and for global growth to 2.8%, factoring in the effects of Trump's tariffs [4] - Recent announcements of significant tariff reductions between the U.S. and China are seen as positive developments, although the actual tariff rates remain higher than last year, and uncertainties persist regarding the implementation of new tax rates [5]

Group 1 - South Korea's exports have declined by 2.4% in the first 20 days of May compared to the same period last year, with a significant drop of 14.6% in exports to the United States [1] - The overall imports decreased by 2.5%, resulting in a trade deficit of $300 million [1] - The automotive sector, including cars and auto parts, saw exports drop by 6.3% and 10.7% respectively, while steel product exports fell by 12.1% [1] Group 2 - The semiconductor sector remains a strong performer, contributing to a 17.3% overall export growth for South Korea [1] - Political uncertainty ahead of the presidential elections is hindering efforts to reach a trade agreement with the U.S. [1] - Analysts suggest that unless a compromise on automotive tariffs is reached, pushing for an early agreement may be futile [2] Group 3 - A government-funded think tank has revised South Korea's economic growth forecast for 2025 down to 0.8% due to the impact of U.S. tariffs [3] - There is a low likelihood of reaching any trade agreement before the June elections, despite South Korea being one of the first countries to initiate trade talks with the U.S. [3]

美国政府4月2日宣布对所有贸易伙伴征收所谓"对等关税"。德国安联集团的调查显示，在4月2日前，有 80%的出口商预计今年出口会增加，但4月2日以后，这个数字降至40%。此外，出口商的生产也受到了 影响。27%的出口商表示，由于外汇波动加剧了高关税的成本，他们可能会暂时停止生产；32%的公司 打算停止进口或海外生产，以避免延误或增加成本。 德国安联集团5月20日发布全球贸易调查报告，共调查了中国、法国、德国、意大利、波兰、新加坡、 西班牙、英国和美国共9个国家的4500家出口商。调查显示，美国贸易政策削弱多国出口商信心。 德国安联集团表示，美国贸易政策的不可预测性削弱了出口商的信心。42%的出口商预计，未来12个月 的营业额将下降2%到10%。 调查还显示，一些公司正在通过提高价格的方式将成本转嫁给客户。在美国，54%的公司选择涨价。 （央视新闻） ...

美联储哈玛克：我们需要更多的时间来了解商业决策是如何受到贸易政策的影响的，现在美联储最好的 行动就是按兵不动。 ...

美联储博斯蒂克：在最引人注目的问题上，包括贸易政策，未来似乎会更加明朗。 ...

智通财经5月21日电，旧金山联邦储备银行总裁戴利表示，特朗普政府的贸易、移民等政策的净影响仍 不明朗。 ...

美联储哈玛克：特朗普政府贸易、移民等政策的净效应仍不明朗。 ...

Core Viewpoint - The Federal Reserve, represented by Harker, aims to avoid overreacting to trade tensions, indicating that future policies may counteract the effects of trade policies [1] Group 1 - The Federal Reserve's stance suggests a measured approach to trade issues, emphasizing the importance of not overreacting [1] - Future policy decisions may be designed to mitigate any negative impacts arising from trade policies [1]

Core Viewpoint - Future policy measures by the Federal Reserve may offset the impacts of trade policies [1] Group 1 - The Federal Reserve's stance indicates a potential balancing act between monetary policy and trade policy effects [1] - There is an implication that adjustments in interest rates or other monetary tools could mitigate adverse trade impacts [1]