Group 1 - The core viewpoint of the article highlights the unfavorable trade agreement between the Philippines and the United States, which is perceived as a "unequal treaty" that undermines the Philippines' economic interests and sovereignty [1][3] - The trade agreement includes a minimal tariff reduction from 20% to 19%, which is seen as insincere compared to Japan's 15% tariff rate, and fails to meet the expectations of the Philippines for better terms than Vietnam [1][3] - The agreement mandates the Philippines to implement "zero tariffs" on U.S. goods while maintaining a high tariff of 19% on Philippine exports to the U.S., leading to a significant trade deficit of $4.9 billion in 2024 [3] Group 2 - The economic impact of the agreement is severe, particularly for local farmers and fishermen, as U.S. agricultural products will flood the market, threatening local industries [5][6] - Diplomatically, the Philippines faces isolation from ASEAN countries due to its aggressive stance against China, which has damaged its international image [5][6] - The strategic assurances from the U.S. regarding military support are viewed as empty promises, with the U.S. showing little commitment to the Philippines' security concerns [5][6] Group 3 - The article discusses President Marcos' miscalculations, including overestimating U.S. support, underestimating domestic backlash, and misjudging China's role as a key trading partner [6][7] - There is a growing dissent among the Philippine elite and the general public, with calls for a reassessment of the agreement and accusations of betrayal against the government [10][11] - The potential for economic collapse looms if the Philippines continues to align with U.S. provocations against China, risking retaliatory measures that could devastate its economy [12] Group 4 - The conclusion emphasizes the need for the Philippines to adopt a pragmatic foreign policy that balances relations with major powers and avoids becoming a pawn in geopolitical conflicts [13]

智通财经7月27日电，据新华社报道，美国总统特朗普26日在社交媒体上说，他当天分别与柬埔寨首相 洪玛奈、泰国代理总理普坦通电话，称两国只有结束边境冲突，美国才会考虑与两国达成贸易协议。特 朗普表示，美国与泰国和柬埔寨都有贸易往来，如果两国正在冲突，美国不想与两国达成任何协 议。"当一切尘埃落定，和平即将到来时，我期待与这两个国家达成贸易协议。"特朗普还称，泰柬两国 领导人同意"立即会面并迅速达成停火协议"，并希望与美国重回"贸易谈判桌"。泰国外交部稍后在社交 媒体发表一份通报，就特朗普与普坦通话并提议泰柬立即停火一事作回应。通报说，普坦确认泰方原则 上同意停火，请美方向柬方转达：泰方希望尽快进行双边会谈，以共同确定明确的停火措施和程序，最 终和平解决冲突。洪玛奈在社交媒体上回应说，柬方同意"关于两国武装部队立即无条件停火的提议"， 事实上，他24日与东盟轮值主席国马来西亚总理安瓦尔通电话时已经表达这一立场。 特朗普与柬埔寨和泰国领导人通电话 ...

Group 1 - The core viewpoint of the article is that Trump's recent trade agreements with Japan and the Philippines signify a shift in regional power dynamics, particularly affecting the political futures of Japanese Prime Minister Kishida and Philippine President Marcos [1][15]. - Japan's automotive industry is significantly impacted by the U.S. reducing tariffs from 25% to 15%, which, while seemingly beneficial, actually diminishes Japan's competitive edge in the long term [3][5]. - Japan is required to invest $550 billion in the U.S. as part of the trade agreement, which could exacerbate its existing economic challenges and lead to capital outflow [6][8]. Group 2 - The trade agreement mandates Japan to open its markets for rice, automobiles, and energy, putting pressure on domestic industries and potentially harming local farmers due to increased competition from U.S. imports [8][10]. - The political landscape in Japan is unstable, with Kishida facing immense pressure following a historic loss in the recent Senate elections, leading to calls for his resignation [12][14]. - The Philippines' trade agreement with the U.S. includes a zero-tariff policy for U.S. goods entering the Philippines, while Philippine goods face a 19% tariff in the U.S., creating an imbalanced trade relationship [17][19]. Group 3 - President Marcos's attempts to seek U.S. support against China have not yielded the desired results, as the U.S. prioritizes its trade relations with China over supporting the Philippines [19][21]. - Marcos's political position is precarious due to rising tensions with the Duterte family and declining public support following electoral setbacks, complicating his ability to govern effectively [23][25].

Group 1 - The core viewpoint of the news is the ongoing discussions between the EU and the US regarding trade relations, with a potential agreement on tariff reductions being a focal point [1][4][5] - Trump stated that the likelihood of reaching a trade agreement with the EU is around 50%, which caused a temporary drop in the euro against the dollar [1][5] - EU officials expressed optimism about reaching a trade agreement, potentially involving a 15% tariff rate, similar to a recent agreement with Japan [5][6] Group 2 - A face-to-face meeting is scheduled for July 27 in Scotland to further discuss trade cooperation and related disputes between the EU and the US [5][6] - Trump has previously announced a 30% tariff on EU imports starting August 1, with additional tariffs on specific industries, including a 25% tariff on automobiles and parts [5][6] - The EU is seeking to establish lower tariff quotas for certain steel and aluminum products and hopes for exemptions in specific sectors [6] Group 3 - Trump indicated that most trade agreements are expected to be finalized before August, with plans to issue around 200 tariff letters to other trading partners [7] - He downplayed the possibility of the UK negotiating a deal by removing its digital services tax in exchange for lower US tariffs on steel and aluminum [7] - Australia has recently lifted restrictions on US beef imports, which Trump praised as a positive step in trade negotiations [8]

特朗普：除了贸易协议外，还将与英国讨论其他事情。 ...

Core Viewpoint - The likelihood of reaching a trade agreement between the U.S. and the EU is perceived by Trump to be only 50% despite optimistic signals from EU diplomats [1] Group 1: Trade Agreement Prospects - Trump believes the chances of a trade agreement are "fifty-fifty," indicating uncertainty in negotiations [1] - U.S. and EU negotiators are reportedly working "closely" to achieve an agreement [1] Group 2: Tariff Implications - Trump has warned that if a trade agreement is not reached by August 1, the EU could face punitive tariffs of 30% on most goods [1] - Specific additional tariffs on certain industries will also be implemented if the agreement is not finalized [1] - Trump plans to issue more letters in the coming days to set new tariffs for other countries [1]

美国总统特朗普：大多数贸易协议现在都已完成。 ...

Report Industry Investment Rating - Not provided Core Viewpoints - The U.S. economic data shows resilience, with the July S&P Global Manufacturing PMI preliminary value at 49.5 falling short of expectations but the Services PMI at 55.2 being strong, and the weekly initial jobless claims at 217,000 remaining low. The precious metals are mainly in a wide - range oscillation. The probability of an unexpected confrontation is decreasing, but market uncertainties still exist [2]. - Silver has significant advantages over gold during the stage when domestic and foreign risk appetites are opened, and it is currently in an upward trend. Attention should be paid to whether the change in photovoltaic expectations affects the improvement of the term structure of silver demand expectations [2]. - The easing signs of the global trade situation and the strong performance of U.S. economic data are the main reasons for the decline in gold prices. These factors reduce investors' concerns about economic turmoil and weaken the attractiveness of gold as a safe - haven asset [2][3] Summary by Related Content Economic Data - The July S&P Global Manufacturing PMI preliminary value in the U.S. is 49.5, which is lower than expected, while the Services PMI is 55.2, showing strong performance. The weekly initial jobless claims are 217,000, remaining at a low level. The initial jobless claims for the week ending July 19 decreased by 4,000 to 217,000, the lowest level in three months, far lower than the economists' expected 226,000. The July U.S. Composite PMI rose from 52.9 in June to 54.6, and the Services PMI climbed significantly to 55.2, indicating an accelerated expansion of economic activities [2][3] Trade Situation - The U.S. and multiple countries are expected to reach tariff agreements one after another. The U.S. and Japan have reached a trade agreement that reduces the automobile import tariff to 15% and exempts some goods from punitive tariffs. The U.S. and the EU's trade negotiations have also shown positive progress, and the market expects the two sides to reach an agreement with a 15% benchmark tariff, lower than the 30% tariff level previously threatened by Trump [2] Precious Metals Market - Precious metals are mainly in a wide - range oscillation. Silver has significant advantages over gold during the stage when domestic and foreign risk appetites are opened and is in an upward trend. The change in photovoltaic expectations may affect the improvement of the term structure of silver demand expectations. The easing of the global trade situation and strong U.S. economic data have put pressure on gold prices [2]

美国总统特朗普：一些贸易协议将通过信函的形式完成。 ...

特朗普：大多数贸易协议在8月前达成。 ...