特朗普：我将与习近平主席在韩国会面，我们关系非常好。中国目前正在支付55%的（关税），除非我们在11月1日前达成协议，否则可能会增加到155%。如果他们（中国）不跟我们做生意，我认为中国会陷入大麻烦，我认为中国，我不知道他们是否能撑得住。我确实这样认为。我相信他们正处于大麻烦中。我不想让他们陷入大麻烦，我希望他们过得好，我希望他们繁荣。我们必须共同繁荣。这是双向的。我认为当我们完成我们的会晤，中国和我将达成一个真正公平、真正伟大的贸易协议。 ...

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - The precious metals market has been under pressure and in a callback trend due to the cooling of the tariff situation, with the market's risk aversion sentiment declining and risk appetite improving [2]. - The sharp correction in the precious metals market since last Friday may be driven by both fundamental and technical factors. The monthly RSI indicates that gold and silver prices are in an overbought range, and the market's expectation of Trump's tariff implementation has decreased, leading to a decline in the safe - haven premium [2]. - Fed officials maintain a dovish stance, and the probability of interest rate cuts in October and December is over 90%, which may provide some support for gold prices [2]. - Looking ahead, tariff developments will still affect gold price fluctuations. The U.S. government shutdown is expected to continue, and this Friday's CPI data will be crucial. Precious metals are expected to fluctuate this week, with short - term correction pressure remaining. The Shanghai Gold 2512 contract is expected to trade between 930 - 990 yuan/gram, and the Shanghai Silver 2512 contract between 11000 - 12000 yuan/kg [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the Shanghai Gold main contract is 970.32 yuan/gram, down 29.48 yuan; the closing price of the Shanghai Silver main contract is 11742 yuan/kg, down 507 yuan [2]. - The main contract positions of Shanghai Gold are 207916 lots, down 14276 lots; those of Shanghai Silver are 432663 lots, down 38499 lots [2]. - The net positions of the top 20 in the Shanghai Gold main contract are 117407 lots, down 13605 lots; those of Shanghai Silver are 99705 lots, up 4292 lots [2]. - The warehouse receipt quantity of gold is 84606 kg, unchanged; that of silver is 855850 kg, down 64253 kg [2]. 3.2 Spot Market - The Shanghai Non - ferrous Metals Network's gold spot price is 975.5 yuan/gram, down 21.79 yuan; the silver spot price is 11834 yuan/kg, down 365 yuan [2]. - The basis of the Shanghai Gold main contract is 5.18 yuan/gram, up 7.69 yuan; that of the Shanghai Silver main contract is 92 yuan/kg, up 142 yuan [2]. 3.3 Supply - Demand Situation - Gold ETF holdings are 1047.21 tons, up 12.59 tons; silver ETF holdings are 15497.4 tons, up 74.79 tons [2]. - The non - commercial net positions of gold in CFTC are 266749 contracts, up 339 contracts; those of silver are 52276 contracts, up 738 contracts [2]. - The total supply of gold in the quarter is 1313.01 tons, up 54.84 tons; the total annual supply of silver is 987.8 million troy ounces, down 21.4 million troy ounces [2]. - The total demand for gold in the quarter is 1313.01 tons, up 54.83 tons; the global total annual demand for silver is 1195 million ounces, down 47.4 million ounces [2]. 3.4 Option Market - The 20 - day historical volatility of gold is 24.14%, up 1.47%; the implied volatility of at - the - money call options for gold is 32.85%. The 40 - day historical volatility of gold is 18.9%, up 1.37%; the implied volatility of at - the - money put options for gold is 32.85%, up 0.82% [2]. 3.5 Industry News - Trump continued to send conciliatory signals in an interview, and the Trump administration is quietly relaxing some tariff policies, exempting dozens of products from "reciprocal tariffs" [2]. - On the morning of October 18, Chinese and U.S. economic and trade leaders held a video call, agreeing to hold a new round of Sino - U.S. economic and trade consultations as soon as possible [2]. - Trump signed an executive order on October 17 to impose a 25% tariff on imported medium and heavy trucks and parts from November 1, and a 10% tariff on imported passenger cars [2].

韩国最高政策负责人表示，韩国在与美国的关税谈判中在大多数关键问题上取得了"实质性进展"。目前，双方在3500亿美元投资基金的结构上仍 存在分歧，而该基金是美国将韩国商品关税上限设在15%协议的核心所在。 10月20日，据媒体报道，韩国总统府政策室长Kim Yong-beom周日在电视简报会上表示，两国在许多问题上达成了广泛共识，但仍有几个问题需 要进一步谈判。他还表示，在即将举行的亚太经合组织峰会上达成协议的可能性有所增加。 此次事件发生在韩国大企业高管参加特朗普海湖庄园非正式活动之后。据韩联社等韩国媒体报道，包括进展汽车、SK集团和韩华集团在内的韩国 财团人员，与来自日本和台湾的商界领袖出席了出席活动。该次聚会据报道持续了超过七个小时，与会者很可能与特朗普讨论了贸易和投资问 题。 此前，据央视新闻报道，韩美7月达成贸易协议框架，美国将降低对韩国商品的关税，以换取韩国3500亿美元的投资。李在明对此表示，由于对如 何处理投资存在争议，他们尚未将协议付诸实施。李在明指出，如果韩国按照美国要求，提取3500亿美元现金并将其全部投资于美国，韩国将面 临类似1997年金融危机时的局面。 特朗普总统曾多次要求韩国"预先 ...

Core Points - South Korea is likely to reach a trade deal with the U.S. before the upcoming APEC summit [1] Group 1 - The chief policy advisor of South Korea indicated an increased probability of a trade agreement with the U.S. [1]

10月特朗普关税威胁再起，但此次中方更从容，美方分歧加大。本文从美方视角出发，客观梳理美国政 界对特朗普关税策略的批评及建议，为理解美国关税未来可能取向提供框架化参考。 一、美方视角下，中国关税策略出现了哪些调整？ 本次关税不确定性来源于9月以来美国非关税措施。 9月，美国BIS扩大制裁范围；10月9日，商务部出台 稀土出口管制措施；10日，特朗普威胁加征100%关税，对关键软件实施出口管制，发表不利言论，但随 后，特朗普又做改口。此次，美国政界对自身关税策略的分歧扩大。 美国政界认为中国关税策略出现两点新变化。 一是中方以战术性协议换取战略发展空间，包括TikTok协 议、农产品采购等，这些措施不损害中方核心利益，但可满足特朗普诉求；二是与关税1.0时期相比，中 方增强了主动性，包括停止购买美豆，在会晤前主动创设议题和谈判筹码。 出口管制措施引起美国两党普遍担忧及警惕。 今年4月中方首次出台稀土出口管制措施，主要针对的是 境内出口商；10月的出口管制新措施将域外适用首次写入条文。CSIS认为此次调整是长线策略的急剧升 级，众议院对华特设委员会呼吁采取行动巩固美国稀土供应链。 二、站在美国战略层视角，特朗普关 ...

李在镕、郑义宣、 SK 集团会长崔泰源以及 LG 集团会长具光谟应软银董事长孙正义邀请， 出席在海湖庄园举行的 " 星际之门 " （ Stargate ）项目投资推介活动。韩国几大财阀掌门 人还可能与特朗普及其他商界人士一起打高尔夫球。特朗普预计将于 10 月 17 日至 19 日期 间在海湖庄园停留。孙正义此次共邀请了约 70 家全球企业的首席执行官参加该活动。 中国基金报记者 李智 一起来关注下日韩股市及最新资讯。 韩国综合指数再创历史新高 韩国综合指数涨幅扩大至 1% ，再创历史新高。 | W | | 韩国综合指数(KS11) 10-16 09:11:40 延时行情 | | | | | --- | --- | --- | --- | --- | --- | | 3698.98 | | 昨收 | 3657.28 | 成交额 | 0 | | 41.70 | 1.14% | 今开 | 3675.82 | 成交量 | 5531.3万 | | 上 涨 | 487 | 中 留 | 97 | 下 跌 | 252 | | 最高价 | 3700.28 | 市盈率 | 16.4 | 近20日 | 10.61% | | 最低 ...

【环球网报道 记者 张倩】据路透社报道，韩国经济副总理兼企划财政部长官具润哲当地时间14日表 示，美国不再坚持要求韩国将今年7月达成的贸易协议中承诺的3500亿美元投资全部以直接投资形式落 实，称这是"重大进展"。 路透社提到，具润哲计划本周赴华盛顿出席多国财长会议。他13日曾表示，正在协调与贝森特的会面。 韩美7月底达成贸易协议框架，但在具体执行方案上尚未最终达成一致。根据美国总统特朗普的说法， 韩国输美产品将适用15%关税税率，美国产品在韩国则不会被征收关税。韩国还将向美国投资3500亿美 元。但韩美围绕这3500亿美元对美投资的谈判陷入僵局。韩国政府今年7月宣布与美方达成"原则协 议"时曾解释称，3500亿美元投资"多数以担保和贷款为主，现金仅占极少部分"，但近期被爆美方要求 韩方"几乎全部以现金出资"。韩国《朝鲜日报》称，3500亿美元的短期投资，超过了韩国过去5年全球 海外直接投资（FDI）总额。 据韩联社9月22日报道，韩国总统李在明接受英国路透社和英国广播公司采访时表示，韩方争取尽快与 美方达成关税协议，但在韩美未签货币互换协议的情况下，韩方若按照美方要求以现金形式投资3500亿 美元，韩国"将 ...

Core Points - The article discusses the exemption of Ireland from the new 100% tariffs on pharmaceuticals imposed by the United States, as confirmed by the White House [1] - The announcement of new tariffs by President Donald Trump introduces uncertainty to the previously established framework agreement between the EU and the US [1] - A White House official stated that the Trump administration will adhere to the 15% tariff cap included in the framework agreement [1] - Irish Deputy Prime Minister Simon Harris welcomed the confirmation that the new US drug tariffs do not apply to the EU or Ireland [1]

Group 1 - The new demands from the U.S. government may undermine a recently reached trade agreement with the EU, which had previously eased tensions between the allies [1] - The U.S. has proposed a new trade proposal aimed at achieving "reciprocal, fair, and balanced" trade, but EU officials view these demands as excessive [1] - The U.S. is seeking discussions on EU legislation, including digital and technology rules, while the EU insists on maintaining regulatory autonomy [1] Group 2 - In return for concessions, the EU has submitted legislation to lower tariffs on U.S. industrial goods and some non-sensitive agricultural products, pending approval from the European Parliament [2] - Discussions regarding the reduction of U.S. tariffs on steel and aluminum have made little progress, with the EU planning to impose tariffs on foreign steel imports exceeding certain quotas [2] - Concerns have been raised that the U.S. is expanding the list of products subject to the 50% tariff, potentially affecting medical devices and technology, which could weaken the EU's hard-won 15% tariff cap [2]

Group 1 - The core viewpoint of the article is that the U.S. and Canada are making significant progress towards a trade agreement, although specific timelines and negotiation paths remain unclear [1][2] - Canadian Prime Minister Carney emphasized that Canada is the largest source of foreign investment in the U.S. and projected that investments could increase to $1 trillion over the next five years if a favorable agreement is reached [2] - The trade relationship between the U.S. and Canada is currently valued at $900 billion, with ongoing tensions due to tariffs imposed by the U.S. on Canadian steel, aluminum, and automotive products [1][2] Group 2 - The U.S. has raised tariffs on goods not meeting USMCA standards from 25% to 35%, contributing to a decline in Canadian manufacturing investment and economic contraction in the second quarter [2] - Discussions also included the review mechanism for the USMCA set for 2026, with Trump indicating a willingness to renegotiate the trilateral agreement or pursue bilateral trade agreements that favor the U.S. [2] - Carney's recent visit to Mexico aimed to strengthen trilateral cooperation, particularly in critical mineral resources, highlighting the importance of a robust North American supply chain [2]