Group 1 - The article discusses the dramatic evolution of the US tariff policy towards China in 2025, highlighting a shift from a dual-track system of "benchmark tariffs + differentiated rates" to a full upgrade to 125% "reciprocal tariffs" and selective exemptions for semiconductor-related products [1] - The article emphasizes that the fluctuations in tariff policy reflect the US's "maximum pressure" strategy and the deep-seated contradictions within its domestic political and economic landscape, indicating a critical turning point in Sino-US economic relations [1] - The adjustments in policy and market dynamics are profoundly impacting the global economic landscape, suggesting a need for strategic responses from China [1] Group 2 - The upcoming public lecture will explore economic trends and the construction of financial defense systems under the context of Sino-US competition, led by Professor Li Nan [2] - The agenda includes a discussion on the underlying logic of tariff negotiations, focusing on how US inflation, debt, and electoral politics drive policy fluctuations, and how China can enhance resilience through countermeasures and internal circulation [4] - The lecture will also analyze paths for industrial breakthroughs in key sectors such as semiconductors and new energy, as well as the feasibility of transshipment trade in the face of technological blockades [4] Group 3 - The investment strategy adjustments will focus on identifying long-term value anchors amid A-share market volatility and how companies can optimize their global layout by leveraging policy windows [4] - Professor Li Nan's expertise includes financial economics, econometrics, and macro asset pricing, with a focus on economic policy and investment decisions under uncertainty [6] - The collaboration with Nobel laureate Lars Peter Hansen and John C. Heaton on long-run risk measurement highlights the academic credibility and research depth of Professor Li Nan [6]