Group 1: Gold Market - The Federal Reserve is likely to maintain interest rates in January, but changes in leadership candidates could impact dovish expectations, potentially putting pressure on gold prices [2] - The geopolitical situation, particularly regarding the U.S.-Iran conflict, has heightened investor interest in gold as a safe haven asset, keeping demand strong [2] - Current bullish sentiment in the gold market suggests a high probability of gold prices maintaining a strong performance, with support noted at $4,640 [3] Group 2: Oil Market - The oil market is experiencing a "narrative battle" due to geopolitical tensions and oversupply concerns, with recent U.S.-Iran tensions initially driving prices up, but subsequent diplomatic efforts leading to a price decline [6] - The oversupply risk in the oil market is exacerbated by the U.S. selling Venezuelan oil at $500 million, which may increase supply concerns [6] - U.S. shale oil producers indicate they cannot accept prices below $50, suggesting stabilization in U.S. oil production, which could support prices [6] - Technical indicators show potential for a rebound in oil prices, with support noted at $58.50 [6] Group 3: Copper Market - Recent trading in the copper market has shown a downward trend, with risks of breaking previous lows [8] - The market is testing the 20-day moving average, and if it stabilizes, there may be opportunities for further price increases, with support at $5.73 [8] Group 4: Nikkei 225 - The Nikkei 225 index is primarily showing an upward trend, with short-term bullish momentum indicated by a golden cross between the 20-day and 62-day moving averages [9] - Support for the index is noted at 52,754 [9]

1. Report's Industry Investment Rating - No information provided regarding the report's industry investment rating 2. Core Views of the Report - The geopolitical situation in Latin America and the Middle East does not strongly support overall oil prices, but the valuation of heavy - oil products will rise significantly. The valuation of heavy - oil products is upgraded to overweight, and the crack spreads of asphalt or fuel oil may have upward momentum [2] - The current methanol valuation is low, and its outlook for the next year will improve marginally, with limited downside space. Despite short - term negative pressure, the recent geopolitical instability in Iran has created certain geopolitical expectations, making it feasible to buy on dips [4] - The current domestic - foreign price difference of urea has opened the import window. Coupled with the expected increase in production at the end of January, negative fundamental expectations for urea are approaching, so it is advisable to take profits on rallies [7] - Rubber is in a seasonally weak period. Currently, a bearish mindset is adopted. If RU2605 falls below 16,000, a short - term bearish strategy will be adopted. It is recommended to partially build a position by buying the main contract of NR and shorting RU2609 [12] - The fundamentals of PVC are poor. Although short - term electricity price expectations and pre - export rush support PVC, in the medium term, the strategy of shorting on rallies is still the main approach until there is a substantial reduction in industry production [14] - The current non - integrated profit of styrene is moderately low, with significant upward valuation repair space. It is advisable to go long on the non - integrated profit of styrene before the first quarter [17] - For polyethylene, the long - term contradiction has shifted from cost - driven downward trends to production - mismatch issues. It is advisable to go long on the LL5 - 9 spread on dips [20] - For polypropylene, in the context of weak supply and demand, the overall inventory pressure is high. The futures price is expected to bottom out when the oversupply situation changes in the first quarter of next year [23] - For PX, it is expected to maintain an inventory - accumulation pattern before the maintenance season, but there are medium - term opportunities to go long following the trend of crude oil on dips [26] - PTA is expected to enter the Spring Festival inventory - accumulation period. There are medium - term opportunities to go long on dips, and the rhythm should be grasped [29] - For ethylene glycol, the supply - demand pattern needs greater production cuts to improve. In the medium term, if there are no further domestic production cuts, the valuation is expected to be compressed [31] 3. Summary by Related Catalogs 3.1 Crude Oil - INE's main crude oil futures closed down 2.30 yuan/barrel, a decline of 0.52%, at 437.40 yuan/barrel. High - sulfur fuel oil in related refined oil products rose 3.00 yuan/ton, a gain of 0.12%, at 2538.00 yuan/ton; low - sulfur fuel oil rose 2.00 yuan/ton, a gain of 0.07%, at 3060.00 yuan/ton [1] - European ARA weekly data showed that gasoline inventory increased by 1.12 million barrels to 11.72 million barrels, a 10.56% increase; diesel inventory increased by 0.16 million barrels to 14.99 million barrels, a 1.06% increase; fuel oil inventory decreased by 0.08 million barrels to 6.74 million barrels, a 1.12% decrease; naphtha inventory increased by 0.95 million barrels to 6.19 million barrels, an 18.21% increase; aviation kerosene inventory decreased by 0.06 million barrels to 7.62 million barrels, a 0.72% decrease; the total refined oil inventory increased by 2.10 million barrels to 47.25 million barrels, a 4.65% increase [1] 3.2 Polyester - Regional spot prices: Jiangsu changed by - 17 yuan/ton, southern Shandong by - 10 yuan/ton, Henan by 0 yuan/ton, Hebei by 0 yuan/ton, and Inner Mongolia by 0 yuan/ton [3] - The main futures contract changed by 36.00 yuan/ton, closing at 2212 yuan/ton, and MTO profit changed by 73 yuan [3] 3.3 Urea - Regional spot prices: Shandong changed by 10 yuan/ton, Henan by 0 yuan/ton, Hebei by 0 yuan/ton, Hubei by 0 yuan/ton, Jiangsu by 0 yuan/ton, Shanxi by 10 yuan/ton, and Northeast China by 0 yuan/ton. The overall basis was reported at - 22 yuan/ton [6] - The main futures contract changed by - 19 yuan/ton, closing at 1772 yuan/ton [6] 3.4 Rubber - Rubber prices fluctuated weakly, with a technical bearish outlook. Bulls cited seasonal expectations and improved demand expectations, while bears pointed to uncertain macro - expectations, increased supply, and seasonal weak demand [9] - As of January 15, 2026, the operating rate of all - steel tires of Shandong tire enterprises was 62.84%, 2.30 percentage points higher than the previous week and 2.78 percentage points higher than the same period last year. The inventory of all - steel tires was under pressure, and it was in the pre - Spring Festival inventory production stage. The operating rate of semi - steel tires of domestic tire enterprises was 74.35%, 6.35 percentage points higher than the previous week and 4.09 percentage points lower than the same period last year [10] - As of January 11, 2026, China's total social inventory of natural rubber was 1.256 million tons, a 1.9% increase from the previous month. Among them, the inventory of dark - colored rubber increased by 2.5% to 835,000 tons, the inventory of light - colored rubber increased by 0.8% to 421,000 tons, and the inventory of natural rubber in Qingdao was 563,900 (+19,600) tons [10] - In the spot market, Thai standard mixed rubber was at 15,000 (- 100) yuan, STR20 was reported at 1880 (- 20) US dollars, STR20 mixed was at 1885 (- 20) US dollars, butadiene in Jiangsu and Zhejiang was at 9500 (- 50) yuan, and cis - polybutadiene in North China was at 11300 (- 200) yuan [11] 3.5 PVC - The PVC05 contract fell 2 yuan, closing at 4801 yuan. The spot price of Changzhou SG - 5 was 4560 (- 20) yuan/ton, the basis was - 241 (- 18) yuan/ton, and the 5 - 9 spread was - 115 (+5) yuan/ton [13] - In terms of cost, the price of calcium carbide in Wuhai was reported at 2500 (+100) yuan/ton, the price of medium - grade semi - coke was 820 (0) yuan/ton, ethylene was 710 (- 20) US dollars/ton, and the spot price of caustic soda was 635 (- 23) yuan/ton [13] - The overall operating rate of PVC was 79.6%, unchanged from the previous period. Among them, the calcium - carbide method was 80%, a 0.3% increase, and the ethylene method was 78.8%, a 0.8% decrease. The overall downstream operating rate was 43.9%, a 0.1% decrease. The in - factory inventory was 311,000 (- 17,000) tons, and the social inventory was 1.144 million (+30,000) tons [13] 3.6 Pure Benzene & Styrene - In terms of fundamentals, the cost of East China pure benzene was 5640 yuan/ton, an increase of 115 yuan/ton; the closing price of the active pure - benzene contract was 5827 yuan/ton, an increase of 115 yuan/ton; the pure - benzene basis was - 187 yuan/ton, a decrease of 56 yuan/ton; the spot price of styrene was 7250 yuan/ton, unchanged; the closing price of the active styrene contract was 7295 yuan/ton, an increase of 117 yuan/ton; the basis was - 45 yuan/ton, a weakening of 117 yuan/ton; the BZN spread was 157.5 yuan/ton, an increase of 12.75 yuan/ton; the profit of non - integrated EB plants was 38.4 yuan/ton, an increase of 0.15 yuan/ton; the EB consecutive 1 - consecutive 2 spread was 69 yuan/ton, a decrease of 19 yuan/ton [16] - On the supply side, the upstream operating rate was 70.86%, a 0.06% decrease; the inventory at Jiangsu ports decreased by 31,700 tons to 100,600 tons [16] - On the demand side, the weighted operating rate of three S products was 41.91%, a 1.02% increase; the PS operating rate was 57.40%, a 1.50% decrease, the EPS operating rate was 54.05%, a 7.34% increase, and the ABS operating rate was 69.80%, unchanged [16] 3.7 Polyethylene - Fundamentals showed that the closing price of the main contract was 6667 yuan/ton, a decrease of 28 yuan/ton, the spot price was 6775 yuan/ton, unchanged, the basis was 108 yuan/ton, a strengthening of 28 yuan/ton [19] - The upstream operating rate was 81.56%, a 1.23% increase. In terms of weekly inventory, the inventory of production enterprises decreased by 45,100 tons to 350,300 tons, and the inventory of traders was 29,200 tons, unchanged. The average downstream operating rate was 41.1%, a 0.11% decrease. The LL5 - 9 spread was - 24 yuan/ton, a 4 - yuan expansion [19] 3.8 Polypropylene - Fundamentals showed that the closing price of the main contract was 6482 yuan/ton, a decrease of 14 yuan/ton, the spot price was 6565 yuan/ton, unchanged, the basis was 83 yuan/ton, a strengthening of 14 yuan/ton [21] - The upstream operating rate was 76.61%, a 0.01% decrease. In terms of weekly inventory, the inventory of production enterprises decreased by 36,700 tons to 431,000 tons, the inventory of traders decreased by 10,800 tons to 193,900 tons, and the port inventory decreased by 500 tons to 70,600 tons [21] - The average downstream operating rate was 52.58%, a 0.02% decrease. The LL - PP spread was 185 yuan/ton, a 14 - yuan narrowing [22] 3.9 PX - The PX03 contract rose 20 yuan, closing at 7106 yuan. The PX CFR remained unchanged at 879 US dollars. The basis was - 9 yuan (- 25) after conversion according to the central parity of the RMB, and the 3 - 5 spread was - 44 yuan (+2) [25] - In terms of PX load, China's load was 89.4%, a 1.5% decrease; Asia's load was 80.6%, a 0.6% decrease. Domestically, Zhejiang Petrochemical reduced its load, while overseas, Thailand's PTTG and Israel's Gadiv plants restarted [25] - The PTA load was 76.9%, a 1.3% decrease. Dushan Energy's plant increased its load, while Yisheng New Materials' plant shut down. In terms of imports, South Korea exported 146,000 tons of PX to China in the first ten days of January, a year - on - year increase of 7000 tons [25] - In terms of inventory, the inventory at the end of November was 4.46 million tons, a 60,000 - ton increase from the previous month. In terms of valuation and cost, PXN was 331 US dollars (+6), South Korea's PX - MX was 142 US dollars (0), and the naphtha crack spread was 78 US dollars (- 10) [25] 3.10 PTA - The PTA05 contract rose 12 yuan, closing at 5030 yuan. The East China spot price rose 10 yuan, closing at 4970 yuan. The basis was - 63 yuan (+4), and the 5 - 9 spread was 42 yuan (- 2) [28] - The PTA load was 76.9%, a 1.3% decrease. Dushan Energy's plant increased its load, while Yisheng New Materials' plant shut down. The downstream load was 88.1%, a 2.7% decrease. Hengyi's 250,000 - ton filament, China Resources' 1.2 - million - ton bottle chip, Shenghong's 250,000 - ton filament, Hanjiang's 300,000 - ton bottle chip, and Quandi's 250,000 - ton filament were under maintenance, Wankai's 200,000 - ton bottle chip reduced its load, and a large factory's 350,000 - ton bottle chip restarted [28] - The terminal texturing load decreased by 2% to 70%, and the weaving load decreased by 1% to 55%. In terms of inventory, the social inventory (excluding credit warehouse receipts) on January 9 was 2.005 million tons, a 25,000 - ton decrease. In terms of valuation and cost, the PTA spot processing fee rose 11 yuan to 314 yuan, and the on - paper processing fee fell 2 yuan to 368 yuan [28] 3.11 Ethylene Glycol - The EG05 contract fell 41 yuan, closing at 3755 yuan. The East China spot price fell 28 yuan, closing at 3637 yuan. The basis was - 121 yuan (+11), and the 5 - 9 spread was - 108 yuan (- 4) [30] - On the supply side, the ethylene glycol load was 74.4%, a 0.3% increase. Among them, the synthetic - gas - to - ethylene - glycol load was 80.2%, a 0.9% increase; the ethylene - to - ethylene - glycol load was 71.2%, a 0.1% decrease. Tianye reduced its load in the synthetic - gas - to - ethylene - glycol segment; Chengdu Petrochemical shut down in the oil - chemical segment; overseas, a Kuwaiti plant shut down, and the US Sasol reduced its load [30] - The downstream load was 88.1%, a 2.7% decrease. Hengyi's 250,000 - ton filament, China Resources' 1.2 - million - ton bottle chip, Shenghong's 250,000 - ton filament, Hanjiang's 300,000 - ton bottle chip, and Quandi's 250,000 - ton filament were under maintenance, Wankai's 200,000 - ton bottle chip reduced its load, and a large factory's 350,000 - ton bottle chip restarted. The terminal texturing load decreased by 2% to 70%, and the weaving load decreased by 1% to 55% [30] - The import arrival forecast was 148,000 tons, and the East China departure volume from January 16 - 18 was 12,600 tons. The port inventory was 795,000 tons, a 7000 - ton decrease. In terms of valuation and cost, the profit of naphtha - to - ethylene - glycol was - 904 yuan, the profit of domestic ethylene - to - ethylene - glycol was - 771 yuan, and the profit of coal - to - ethylene - glycol was - 5 yuan. The cost of ethylene fell to 710 US dollars, and the price of Yulin pit - mouth bituminous coal fines rose to 600 yuan [30]

Core Viewpoint - The article discusses the escalating tensions between the United States and European countries regarding the potential imposition of tariffs related to Greenland, with significant implications for global markets and geopolitical relations [1][4][5]. Market Reactions - U.S. stock index futures saw a notable decline, with the Nasdaq futures down 1.37%, S&P 500 futures down 1.11%, and Dow futures down 0.94% [1]. - European markets also experienced sharp declines, with Germany's DAX index falling 1.34%, France's CAC40 down 1.78%, and the UK's FTSE 100 down 0.39% [1]. U.S. Actions and Statements - President Trump refused to clarify whether military action would be taken regarding Greenland, stating "no comment" [3][4]. - Trump announced a 10% tariff on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland starting February 1, which would increase to 25% on June 1 if no agreement is reached regarding the purchase of Greenland [4][5]. European Response - German Chancellor Merz indicated that the EU would consider imposing tariffs on the U.S. if necessary, although he expressed a desire to avoid escalation [2][5]. - The German government has withdrawn troops previously stationed in Greenland amid rising tensions [5]. - The UK Prime Minister emphasized that Greenland's future should be determined by its people and criticized the use of tariffs against allies [6][5]. Greenland's Position - The Premier of Greenland stated that the U.S. tariff threats would not change their commitment to self-determination, asserting that they would not yield to pressure [7].

Core Viewpoint - Methanol prices have ended a downward trend since July of the previous year and have entered an upward market in 2026, supported by low valuations, expectations of inventory reduction at ports, and geopolitical factors that have increased price volatility [1] Group 1: Inventory and Supply Dynamics - Methanol port inventory has been in a seasonal accumulation cycle since May of the previous year, reaching a historical high in September, which has suppressed prices [2] - Due to the cold weather, Iranian methanol production facilities began to shut down in November 2025, leading to a significant reduction in methanol imports to China, which is expected to alleviate port inventory pressure [3] - As of January 15, 2026, coastal methanol inventory stands at 1.42 million tons, down approximately 220,000 tons from the peak in mid-November 2025, indicating a marginal improvement in supply-demand dynamics [3] Group 2: Price and Profitability Trends - Domestic methanol production is characterized by high supply and low profitability, with overall operating rates at 77.91% as of January 15, 2026, slightly down from the previous week but up year-on-year [4] - Production profits have significantly decreased, with coal-based methanol in Inner Mongolia showing a loss of 251.60 yuan/ton, a 17.79% decrease month-on-month, and similar declines observed in other regions [4] - The upward movement in methanol prices is constrained by rising raw material costs, particularly during the winter demand peak for coal and natural gas [4] Group 3: Downstream Demand and Market Sentiment - The operating rate of methanol-to-olefins (MTO) facilities has decreased to 80.75%, with several plants undergoing maintenance, indicating pressure on downstream demand for methanol [5] - Traditional downstream sectors such as formaldehyde and acetic acid are performing poorly, with overall operating rates at historically low levels, limiting demand support for methanol as the Spring Festival approaches [6] - The geopolitical situation, particularly tensions between the U.S. and Venezuela, has raised concerns about methanol supply, further contributing to price volatility [3][6]

据央视新闻报道，当地时间1月19日，央视记者获悉，美国总统特朗普在接受采访时拒绝说明是否会使 用武力夺取格陵兰岛，称"无可奉告"。 在采访中，特朗普还指责部分欧洲领导人反对美国夺取格陵兰，称欧洲应将注意力放在俄罗斯与乌克兰 冲突上，而非格陵兰问题。他同时明确表示，若未就格陵兰问题达成协议，将"百分之百"落实对欧洲国 家的关税措施。 特朗普17日在社交媒体上宣布，将从2月1日起对来自丹麦、挪威、瑞典、法国、德国、英国、荷兰和芬 兰的输美商品加征10%关税，并宣称加征的税率将从6月1日起提高至25%，直到相关方就美国"全面、 彻底购买格陵兰岛"达成协议。 美军飞机出发格陵兰 新华社渥太华1月19日消息，北美防空司令部19日通过其社交媒体宣布，该部多架飞机即将抵达位于格 陵兰岛的美国皮图菲克太空基地，支持既定任务。 参与北约北极地区任务的准备 19日，挪威国防大臣桑德维克在布鲁塞尔北约总部与丹麦国防大臣会晤后表示，挪威不会拒绝参与北约 在格陵兰岛周边的军事行动，这是应丹麦国防大臣波尔森的要求而发起的。 桑德维克表示，丹麦和美国之间必须开展政治对话，期待对话以建设性的方式进行。此外，北约必须继 续努力加强其在北极地区 ...

中国期货每日简报 桂晨曦 Gui Chenxi 从业资格号 Qualification No：F3023159 投资咨询号 Consulting No.：Z0013632 CITIC Futures International Service Platform：https://internationalservice.citicsf.com Investment consulting business qualification：CSRC License [2012] No. 669 投资咨询业务资格：证监许可【2012】669 号 中 信 期 货 国 际 化 研 究 | 中 信 期 货 研 究 所 International 中信期货国际化研究 | CITIC Futures International Research 2024 202-6/01/ 10-0920 China Futures Daily Note 摘要 Abstract Macro News: China's GDP Surpassed 140 Trillion Yuan in 2025, Growing by 5.0%。 Futures ...

Core Viewpoint - The recent tariff threats from President Trump against eight European allies have caused significant market turmoil, leading to declines in European stock markets and a surge in safe-haven assets like gold and silver [1][2]. Market Impact - European stock markets experienced a sharp decline, with the Stoxx Europe 600 index falling by 1.18%, the DAX 30 down by 1.34%, and the CAC 40 decreasing by 1.78% [2]. - The automotive and luxury goods sectors were particularly hard hit, with the Stoxx Europe 600 Automobiles and Parts index dropping by 2.2% and the Stoxx Europe Luxury 10 index falling by 2.9% [3]. - Major automotive companies such as Volkswagen, Porsche, and BMW saw declines exceeding 2%, while luxury brands like LVMH and Kering dropped over 3% [3]. - In contrast, European defense stocks rose, with Rheinmetall's stock increasing by 2.8% and other defense companies also showing gains [3]. Geopolitical Context - The tariff threats are part of a broader geopolitical landscape, with Trump also considering involvement in Iran's domestic unrest and threatening legal action against Federal Reserve Chairman Powell, raising concerns about the Fed's independence [3][4]. - The upcoming World Economic Forum in Davos will see Trump in attendance, amidst rising tensions in transatlantic relations due to these tariff threats [4]. Economic Predictions - Market participants are incorporating the Greenland-related tariff risks into their pricing models, with a 39% probability that tariffs will take effect by February 1 [2]. - Long-term forecasts suggest a 25% chance that the U.S. will gain control over parts of Greenland by 2026, while the likelihood of a military invasion is relatively low at 11% [2]. - The International Monetary Fund (IMF) has updated its World Economic Outlook, indicating that despite trade policy volatility and geopolitical tensions, the global economy shows resilience [6].

丹麦国防部14日发表声明称，鉴于地缘政治紧张局势已蔓延至北极地区，丹麦国防部和格陵兰岛自治政 府决定加强丹麦武装部队在格陵兰岛的演训活动。此前，丹麦北极联合司令部司令索伦·安德森表示， 约有100名丹麦士兵已抵达格陵兰岛的努克，另有数量相近的士兵抵达康克鲁斯瓦格。 人民财讯1月20日电，丹麦军方人士称，从19日起，驻扎在丹麦自治领地格陵兰岛的丹麦军队人数将增 加。当地时间19日晚上，一架载有数十名丹麦士兵的飞机降落在格陵兰自治首府努克。另外，来自丹麦 陆军第一旅大约58名士兵同一天也抵达格陵兰岛的康克鲁斯瓦格。 ...

Group 1 - The 56th World Economic Forum Annual Meeting will be held in Davos, Switzerland, from January 19 to 23, with the theme "Spirit of Dialogue" focusing on geopolitical games, AI governance, Greenland issues, and Ukraine peace progress [1] - The attendance at this year's forum is at a record high, with over 60 world leaders and approximately 3,000 representatives from over 130 countries, including ministers and central bank governors [1] - Key figures from the business sector include CEOs from Nvidia, Microsoft, Meta, Google DeepMind, and OpenAI, indicating strong corporate representation [1] Group 2 - Ukrainian President Zelensky is expected to request more weapons and security guarantees from Trump during the forum, as well as discuss the Ukrainian economic prosperity agreement [2] - Trump may also hold the inaugural meeting of the "Gaza Peace Committee," which has been criticized as a geopolitical tool attempting to create a "parallel United Nations" [2] - Discussions on technological advancements will focus on AI, including issues like low-quality content generation, the electricity gap, inclusive AI, quantum economy, and regulatory technology [2] Group 3 - The latest "Chief Economists Outlook" report from the World Economic Forum highlights rising asset valuations, increasing debt levels, adjustments in geopolitical economic patterns, and rapid AI deployment, which present both opportunities and risks [2] - The "Global Risks Report 2026" released before the forum indicates that geopolitical and economic risks are intensifying in the new competitive era, with geopolitical economic confrontation being the most severe risk in the short to medium term [2] - Other major risks identified for 2026 include armed conflict between nations, extreme weather, social polarization, and misinformation, with concerns over rising debt and potential asset bubbles exacerbated by geopolitical conflicts [3]

Core Viewpoint - The article discusses the escalating tensions between the U.S. and Europe due to President Trump's announcement of tariffs on eight European countries, which are linked to the controversial issue of Greenland's ownership. This has led to significant declines in European stock markets and a downturn in the cryptocurrency market [3][8][9]. Group 1: U.S. Tariff Announcement - President Trump announced a 10% tariff on eight European countries starting February 1, which will increase to 25% from June 1, contingent upon negotiations regarding the purchase of Greenland [3][8]. - The tariffs are expected to shrink the Eurozone's GDP by approximately 0.1% to 0.2%, with Germany facing the most significant impact, potentially seeing a GDP decline of up to 0.3% [8]. Group 2: European Market Reaction - European stock markets opened lower, with the French CAC40 index dropping over 1.7%, the UK FTSE 100 down 0.6%, and the German DAX index falling 1.5% [3]. - Notable declines in major French stocks included STMicroelectronics and LVMH, both dropping over 4% [5][6]. Group 3: Cryptocurrency Market Impact - The cryptocurrency market experienced significant losses, with major cryptocurrencies like SOL and DOGE showing notable declines. In the last 24 hours, over 247,900 traders were liquidated, totaling approximately $874 million [6][7]. Group 4: EU Response - The EU held an emergency meeting to discuss potential countermeasures against the U.S. tariffs, agreeing on a list of tariffs worth €93 billion as a response, which had been prepared previously [9]. - The meeting highlighted divisions among EU members regarding the implementation of a "counter-coercion mechanism" proposed by France, which would allow for retaliatory tariffs and investment restrictions [9].