Group 1 - The core viewpoint of the article emphasizes the U.S. Treasury Secretary's support for a strong dollar policy, which aims to establish the right fundamentals for attracting capital inflows [1] - Treasury Secretary Bessent stated that the U.S. does not intervene in the currency market to sell dollars and buy yen, reinforcing the commitment to a strong dollar policy [1] - Following Bessent's comments, the dollar experienced a rebound, although some gains were reversed in Asian trading the next day [1] Group 2 - The Japanese yen has been in a downward trend, reaching its lowest level since 1986, raising concerns about the government's fiscal stimulus plans amid heavy national debt [4] - Japan's Finance Minister indicated readiness to respond to yen fluctuations and maintain close coordination with U.S. authorities [4] - Bessent mentioned that a reduction in the U.S. trade deficit should, over time, strengthen the dollar, although economists noted that trade balance changes do not necessarily correlate with currency fluctuations [4]

2025年，印度黄金和白银进口量飙升至历史新高，此举引发政策制定者担忧——尽管贵金属价格屡创历 史峰值，这类进口仍保持强劲势头，而印度政府却缺乏有效的管控手段。 去年，国际黄金、白银价格双双创下历史新高，印度黄金进口额同比上涨1.6%，达589亿美元；白银进 口额大幅攀升44%，至92亿美元。 为何管控黄金、白银进口？ 印度是全球第二大黄金消费国、第一大白银消费市场，但其黄金需求几乎完全依赖进口，白银需求也有 超80%依靠海外供应。 2025年，印度用于进口黄金和白银的支出占其外汇储备的近十分之一；随着贵金属价格持续走高，2026 年相关进口账单金额预计将进一步攀升。 进口规模扩大推高了印度贸易逆差，也令印度卢比承压——本月卢比汇率已跌至历史新低。 白银广泛应用于太阳能、电子等工业领域，而黄金的用途则主要集中在珠宝制作和投资领域。印度政府 将黄金需求归为非必需需求，并多次通过提高进口关税的方式抑制黄金消费，以此抬高消费者的购买成 本。 为何交易商猜测印度将上调进口关税？ 印度民众正越来越多地在现货市场购买金币、金条，同时，选择黄金交易所交易基金（ETF）的投资者 数量也在持续增加。2025年，印度黄金ETF资 ...

Group 1 - The trade deficit in Cameroon for the second quarter of 2025 reached 795.5 billion CFA francs (approximately 1.333 billion USD), an increase from 721.9 billion CFA francs in the previous quarter, indicating a rise of 66.6 billion CFA francs within three months [1] - Year-on-year, the trade deficit decreased by 144.3 billion CFA francs, primarily due to a decline in export value [1] - Total goods imports amounted to 1,382.8 billion CFA francs, an increase of nearly 198 billion CFA francs compared to the first quarter, driven by a significant rise in import volume (+27.3%) despite a slight decrease in procurement prices (-5.6%) [1] Group 2 - Goods exports for the second quarter of 2025 were 587.1 billion CFA francs, a decrease of 531.2 billion CFA francs from the previous quarter, attributed to a drop in sales volume (-45.6%) and a decline in prices (-7.8%) [2] - The decline in export value was primarily observed in cocoa beans, crude oil, liquefied natural gas, raw cotton, and aluminum, with respective decreases of 70.5 billion CFA francs (-86%), 150.9 billion CFA francs (-28.8%), 69.7 billion CFA francs (-43%), 35.7 billion CFA francs (-24%), and 10.9 billion CFA francs (-45%) [2]

【市场资讯】 转自：新华财经 【资讯导读】 •美国众议院通过2026财年关键拨款法案 •美国2025年第三季度GDP创近两年最快增速 •日本贸易逆差连五年 出口创新高但对美下滑 •韩国施行《人工智能基本法》 强化高风险AI监管 •美国众议院于1月23日通过2026财年一揽子拨款法案，其中国土安全部拨款以220票对207票微弱优势单 独过关。该方案将与上周通过的另一法案合并后提交参议院，须在1月30日前完成审议以避免政府停 摆。若成功立法，将是自2024年3月以来首次确立全年联邦拨款水平。 •韩国正式实施《人工智能基本法》，要求企业在涉及用户日常生活与安全的"高风险"AI应用场景中采 取严格防护措施，并对深度伪造、虚假信息等滥用行为承担法律责任，标志着AI治理迈入制度化阶 段。 •美国2025年第三季度GDP终值年化环比增长4.4%，略高于初值4.3%，创近两年最快增速。 •美国核心PCE物价指数11月同比上涨2.8%、环比涨0.2%，均符合预期。 •美国上周初请失业金人数降至20万，低于预期的21万，显示劳动力市场依然稳健。 •日本2025年贸易逆差达2.65万亿日元，连续第五年赤字。尽管全年出口额同比增长3 ...

2025年全年，波黑联邦出口额平均每月增长0.95%，进口额平均每月增长0.36%。2025年12月，波 黑联邦商品的主要出口目的地为克罗地亚、德国和奥地利，进口商品主要来源国为意大利、中国和德 国。（驻波黑使馆经商处） （原标题：波黑联邦2025年12月贸易逆差达8.50亿马克） 波黑国家台1月20日报道。波黑联邦统计局数据显示，波黑联邦2025年12月出口额达91.50亿马克， 环比减少0.1%，但同比增长12.1%。进口额达176.53亿马克，环比增长4.0%，同比增长4.4%。贸易逆差 为8.50亿马克，出口额对进口额的覆盖比例为51.8%，较11月的54%下降了2.2%。 ...

Core Insights - Nepal's foreign trade scale has increased in the first half of the 2025/26 fiscal year, with a year-on-year growth of 17.36%, reaching 1.081 trillion Nepalese Rupees (approximately 7.42 billion USD), but the trade deficit has expanded by 10.15% year-on-year [1][2] Trade Performance - Total exports amounted to 142.01 billion Nepalese Rupees (approximately 970 million USD), up from 98.78 billion Nepalese Rupees (approximately 680 million USD) in the same period last fiscal year [1] - Total imports increased by 14.18%, reaching 939.02 billion Nepalese Rupees (approximately 6.45 billion USD) [1] Trade Deficit - The trade deficit has approached 800 billion Nepalese Rupees (approximately 5.49 billion USD), an increase of 73.424 billion Nepalese Rupees (approximately 500 million USD) compared to the same period last fiscal year [1] Dependency on Imports - Nepal's high dependency on imports, particularly in the energy sector, has contributed to the ongoing trade deficit, with imports of petroleum products exceeding total exports in the first half of the fiscal year [2] - Exports remain primarily focused on primary and low-value-added products, limiting structural relief for the trade deficit [2] Major Trade Partners - India and China continue to be Nepal's top two trading partners, with the largest trade deficit occurring with India [2]

自去年1月重返白宫以来，美国总统特朗普推翻了美国数十年的贸易政策，在曾经开放的经济体周围筑 起关税壁垒。 他对几乎所有国家的进口商品征收两位数的关税，扰乱了全球贸易，并给世界各地的消费者和企业预算 造成了压力。 特朗普称，他征收的高额进口税是必要的，这些关税将缩小美国持续数十年的贸易逆差，并将制造业带 回美国。他还曾多次声称，美国征收的关税将由其他国家或出口商负担。 当下，特朗普又为格陵兰岛相关议题对欧加征关税施压。 施压欧洲 特朗普近日威胁称，由于丹麦、挪威、瑞典、法国、德国、芬兰、英国和荷兰支持格陵兰岛的主权，将 从2月1日起对来自这些国家的进口商品征收10%的关税，并补充道，从6月1日起，关税将提高到25%， 并将一直有效，直到相关方就美国"全面、彻底购买格陵兰岛"达成协议。 欧盟是美国最大的单一贸易伙伴，占美国进口总额的近20%。去年，美国对欧洲进口商品征收15%的关 税，不过加上豁免条款，实际关税税率约为11%。10%的普遍关税将使关税压力翻倍，而额外加征25% 的关税将使名义税率达到40%。 高盛估计，受影响的欧洲国家实际GDP将下降0.1%至0.2%。德国受到的冲击最大，如果美国对所有商 品征收 ...

Core Viewpoint - Japan has recorded a trade deficit for the fifth consecutive year, with a significant decline in exports to the United States impacting overall trade performance [1] Group 1: Trade Deficit - In 2025, Japan's trade deficit reached 2.65 trillion yen (approximately 17.7 billion USD), marking the fifth consecutive year of deficit [1] - Japan's exports increased by 3.1% to 110.45 trillion yen, while imports grew by 0.3% to 113.10 trillion yen [1] Group 2: Exports to the United States - Exports to the United States fell by 4.1%, primarily due to the impact of U.S. tariff policies [1] - The total value of Japan's exports to the U.S. dropped to 20.41 trillion yen, representing the first decline in five years [1] - Japan's trade surplus with the U.S. decreased by 12.6% to 7.52 trillion yen [1]

Core Viewpoint - Japan's trade deficit for 2025 is projected to be 2.65 trillion yen, marking the fifth consecutive year of deficit, with a notable decline in exports to the United States [1] Trade Performance - Japan's total exports are expected to grow by 3.1% to 110.45 trillion yen in 2025 [1] - Imports are projected to increase by 0.3% to 113.10 trillion yen [1] - The trade deficit is primarily influenced by a significant drop in exports to the U.S., which decreased by 4.1% [1] U.S. Trade Impact - Exports of automobiles, semiconductor manufacturing equipment, and auto parts to the U.S. saw a substantial decline due to U.S. tariff policies [1] - Japan's exports to the U.S. fell to 20.41 trillion yen, marking the first decline in five years [1] - The trade surplus with the U.S. decreased by 12.6% to 7.52 trillion yen [1]

Core Viewpoint - Japan's trade deficit reached 2.65 trillion yen in 2025, marking the fifth consecutive year of deficit, with a notable decline in exports to the United States by 4.1% [1] Group 1: Trade Statistics - In 2025, Japan's export value increased by 3.1% to 110.45 trillion yen [1] - Japan's import value rose by 0.3% to 113.10 trillion yen [1] - The trade surplus with the United States decreased by 12.6% to 7.52 trillion yen, with exports to the U.S. falling to 20.41 trillion yen, the first decline in five years [1] Group 2: Impact of U.S. Policies - U.S. tariff policies significantly impacted Japan's exports, particularly in automobiles, semiconductor manufacturing equipment, and auto parts, leading to a substantial drop in export figures [1]