Core Viewpoint - The article discusses the implications of the U.S. government's "reciprocal tariff" policy, highlighting the unexpected expansion of the trade deficit and the potential economic consequences as the deadline for trade negotiations approaches [1][4][11]. Trade Data Summary - As of May, the U.S. goods trade deficit unexpectedly widened to $96.6 billion, exceeding market expectations of $86.1 billion, marking the highest trade deficit for the first five months of the year in history [2][5]. - The trade deficit has been primarily driven by a 5.2% decline in U.S. goods exports, which fell to $179.2 billion, the largest drop since the pandemic began [6]. - In contrast, some countries, such as Vietnam and Thailand, saw their exports to the U.S. surge by approximately 35%, reaching historical highs [6]. Economic Impact - The U.S. economy experienced its first contraction since 2022, with a GDP decline of 0.5% on an annualized basis, attributed to increased imports and decreased government spending [3][14]. - The first quarter saw imports rise by 37.9%, the fastest growth since 2020, negatively impacting GDP by nearly 4.7 percentage points [14]. - The core PCE price index rose by 2.68% year-on-year in May, surpassing expectations and reaching its highest level since February 2025 [14]. Trade Negotiation Status - The U.S. has only reached a trade agreement with the UK, which remains largely a framework with many details yet to be finalized [8]. - Negotiations with other major trading partners, including Japan and India, have stalled, with concerns over potential additional tariffs hindering progress [8][9]. - The U.S. government has requested trade partners to submit their best offers amid slow negotiation progress, indicating urgency in reaching agreements [10]. Employment and Economic Risks - The number of Americans filing for unemployment benefits rose to 1.974 million, the highest level since November 2021, indicating increasing job market challenges [15]. - The credit card delinquency rate reached 3.05%, the highest since 2011, while housing market pressures are mounting due to affordability and inventory issues [15]. - The World Bank forecasts a global economic growth rate of 2.3% for 2025, the lowest since the 2008 financial crisis, reflecting widespread economic weakness [15].

Core Viewpoint - The company anticipates moderate growth in revenue in the second half of the year, with a healthy overall growth outlook for the year despite uncertainties related to tariffs and currency fluctuations [1][2]. Group 1: Financial Performance - In May, the company's consolidated revenue was approximately 3.55 billion, a decrease of 3.38% month-over-month and a decrease of 0.56% year-over-year [1]. - For the first five months of the year, consolidated revenue reached approximately 19.17 billion, reflecting a year-over-year increase of 15.57% [1]. - The company's net profit after tax for Q1 was approximately 2.41 billion, representing a quarter-over-quarter increase of 30.7% and a year-over-year increase of 89.8%, marking a nine-quarter high [1]. Group 2: Market Conditions and Customer Demand - The company has observed a "dulling" effect of tariff uncertainties, with customers showing strong demand and placing urgent orders, particularly in the automotive, industrial, and consumer electronics sectors [2]. - Despite the challenges posed by tariffs, customer orders from IDM and IC design companies have increased, indicating a positive market outlook [2]. Group 3: New Facility Developments - The construction of the 12-inch fab in Singapore is progressing well, with production expected to begin in Q1 2027, potentially ahead of schedule [3]. - The company plans to move equipment into the facility in Q4 and anticipates producing samples for customers in the second half of 2026 [3]. - There is significant interest from customers regarding the new facility, and recruitment for the plant is proceeding smoothly, attracting global talent [4].

有记者问： 近日，美方官员称，正在加紧推进与有关经济体谈判，有望在7月9日"对等关税"90 天暂停期结束前与部分国家达成贸易协议。对于未达成协议的国家，可能单方面设定关税税率。 请问商务部对此有何评论？ 【导读】 商务部新闻发言人就美与有关国家关税谈判情况答记者问 来源： 商务部网站 答： 今年4月以来，美国对全球贸易伙伴加征所谓"对等关税"，这是典型的单边霸凌做法，严重 冲击多边贸易体制，严重破坏正常国际贸易秩序。对此，中方一直坚决反对。实践证明，只有坚 定捍卫原则立场，才能真正维护自身合法权益。 中方乐见各方通过平等磋商解决与美方经贸分歧。同时，呼吁各方应始终站在公平正义的一边， 站在历史正确的一边，坚决捍卫国际经贸规则和多边贸易体制。中方坚决反对任何一方以牺牲中 方利益为代价达成交易，换取所谓关税减免。如果出现这种情况，中方绝不接受，将坚决予以反 制，维护自身正当权益。 ...

Group 1 - The U.S. has been imposing "reciprocal tariffs" on global trade partners since April, which is viewed as unilateral bullying that disrupts the multilateral trade system [1] - China firmly opposes the U.S. approach and emphasizes the importance of defending international trade rules and the multilateral trade system [1] - China calls for all parties to engage in equal negotiations to resolve trade differences with the U.S. and warns against sacrificing its interests for tariff reductions [1] Group 2 - Following the consensus between the leaders of China and the U.S., both countries' economic teams reached a principle agreement on a framework during trade talks in London [3] - China will expedite the approval of export applications for controlled items, while the U.S. will lift a series of restrictive measures against China [3] - Both sides aim to enhance communication and cooperation to promote a healthy, stable, and sustainable development of China-U.S. economic relations [3]

商务部新闻发言人就美与有关国家关税谈判情况答记者问。 有记者问：近日，美方官员称，正在加紧推进与有关经济体谈判，有望在7月9日"对等关税"90天暂停期结束前与部分国家达成贸易协议。对于未达成协议的 国家，可能单方面设定关税税率。请问商务部对此有何评论？ 答：今年4月以来，美国对全球贸易伙伴加征所谓"对等关税"，这是典型的单边霸凌做法，严重冲击多边贸易体制，严重破坏正常国际贸易秩序。对此，中方 一直坚决反对。实践证明，只有坚定捍卫原则立场，才能真正维护自身合法权益。 中方乐见各方通过平等磋商解决与美方经贸分歧。同时，呼吁各方应始终站在公平正义的一边，站在历史正确的一边，坚决捍卫国际经贸规则和多边贸易体 制。中方坚决反对任何一方以牺牲中方利益为代价达成交易，换取所谓关税减免。如果出现这种情况，中方绝不接受，将坚决予以反制，维护自身正当权 益。 更多内容： 商务部新闻发言人就中美伦敦框架有关情况答记者问 有记者问：近日，美方有关官员和媒体称，中美已就落实日内瓦共识的框架达成了补充谅解，中国将加快向美国出口稀土，美方相应取消对华有关限制措 施。请问商务部对此有何评论？ 答：在中美两国元首共识指引下，双方经贸团队于6月 ...

有记者问： 近日，美方官员称，正在加紧推进与有关经济体谈判，有望在7月9日"对等关税"90天暂 停期结束前与部分国家达成贸易协议。对于未达成协议的国家，可能单方面设定关税税率。请问商 务部对此有何评论？ 答： 今年4月以来，美国对全球贸易伙伴加征所谓"对等关税"，这是典型的单边霸凌做法，严重冲 击多边贸易体制，严重破坏正常国际贸易秩序。对此，中方一直坚决反对。实践证明，只有坚定捍 卫原则立场，才能真正维护自身合法权益。 据商务部网站消息，6月28日，商务部新闻发言人就美与有关国家关税谈判情况答记者问。 中方乐见各方通过平等磋商解决与美方经贸分歧。同时，呼吁各方应始终站在公平正义的一边，站 在历史正确的一边，坚决捍卫国际经贸规则和多边贸易体制。 中方坚决反对任何一方以牺牲中方利 益为代价达成交易，换取所谓关税减免。如果出现这种情况，中方绝不接受，将坚决予以反制，维 护自身正当权益。 ...

Core Viewpoint - The article emphasizes China's strong opposition to the unilateral imposition of tariffs by the United States, highlighting the negative impact on multilateral trade systems and international trade order [1]. Group 1: Trade Relations - Since April, the U.S. has imposed "reciprocal tariffs" on global trade partners, which is viewed as a typical unilateral bullying approach [1]. - China advocates for resolving economic and trade differences through equal negotiations and calls for all parties to uphold fairness and justice in international trade [1]. Group 2: China's Stance - China firmly opposes any agreements that sacrifice its interests for tariff reductions and warns of resolute countermeasures to protect its legitimate rights [1].

Group 1 - The article discusses the U.S. government's unilateral imposition of "reciprocal tariffs" on global trade partners since April, which is viewed as a form of bullying that disrupts the multilateral trade system and normal international trade order [1] - China expresses its opposition to the U.S. approach and emphasizes the importance of defending principles to protect its legitimate rights and interests [1] - China welcomes negotiations among parties to resolve economic and trade differences with the U.S. and calls for adherence to fairness and justice in international trade rules [1] Group 2 - The article highlights that China will not accept any agreements that sacrifice its interests for tariff reductions and will respond firmly to protect its legitimate rights [1]

特朗普，再次对加拿大施压！ 当地时间6月27日，美国总统特朗普突然宣布，美国将立即终止与加拿大的所有贸易谈判，原因是加拿大将对 美国科技公司征收数字服务税。特朗普称，美国将在未来七天内告知加拿大与美国开展贸易将支付的关税税 率。 在特朗普发出上述威胁后，加元大幅跳水，美元则走高。27日盘中，美元兑加元汇率一度跳涨0.88%。美股三 大指数当天盘中也出现跳水，纳指、标普500指数一度转跌，不过尾盘再度回升。最终，道指收涨1%报43819 点，标普500指数收涨0.52%报6173点，纳指收涨0.52%报20273点。其中，纳指、标普500指数均创收盘历史新 高。 特朗普称，加拿大显然是在效仿欧盟，鉴于这项令人震惊的税收，美国特此终止与加拿大的所有贸易谈判，立 即生效。美国将在未来七天内告知加拿大与美国开展贸易将支付的关税税率。 "这显然是谈判倒退，意味着需要重新调整之前的乐观情绪。"巴克莱外汇策略师Skylar Montgomery Koning表 示:"美加贸易谈判破裂对加元来说显然是利空。关税给加拿大经济带来压力的迹象已经显现，劳动力市场的疲 软尤其令人担忧。" 特朗普：将立即终止与加拿大的贸易谈判 美国与 ...

特朗普表示，美国将在7日内告知加拿大与美国开展贸易所适用的关税税率。 加拿大财政部长商鹏飞26日宣布，不会推迟向科技公司征收数字服务税的计划，数字服务税 将自6月30日生效。根据计划，加拿大政府将针对科技公司向加拿大用户提供数字服务或出 售加拿大用户数据的收入征收3%的税，并追溯至相关公司2022年的收入。 来源：新华社 特朗普宣布停止与加拿大所有贸易谈判 美国总统特朗普27日在社交媒体上宣布，由于加拿大坚持推出针对美国科技公司的数字服务 税， 美国决定立即停止与加拿大的所有贸易谈判 。 目前，美国正与加拿大等贸易伙伴谈判，以在特朗普设定的最后期限前达成协议。美国一直 反对加拿大征收数字服务税的计划，并试图施压阻止。 特朗普4月2日宣布开征所谓"对等关税"，引发美国金融市场暴跌。在多方压力下，特朗普又 在4月9日宣布暂缓对部分贸易伙伴征收高额"对等关税"90天，但维持10%"基准关税"，同 时威胁美贸易伙伴需在7月8日前完成与美谈判。 ...