Core Insights - The U.S. Treasury Secretary, Mnuchin, announced that the U.S. has collected approximately $100 billion in tariff revenue so far this year, with projections suggesting this could rise to $300 billion by the end of 2025 due to the acceleration of tariffs from the trade war initiated by President Trump [2][3] - The significant increase in tariff revenue is attributed to the implementation of nearly universal 10% tariffs on imported goods and increased tariffs on steel, aluminum, and automobiles [2][3] - The Treasury Department reported a record tariff collection of $22.8 billion in May, a nearly fourfold increase compared to $6.2 billion in the same month last year, contributing to a total of $86.1 billion in tariff revenue for the first eight months of the fiscal year [4][7] Revenue Projections - Mnuchin indicated that the target of $300 billion in tariff revenue corresponds to the calendar year 2025, not the fiscal year, implying a need for exponential growth in tariff collections in the coming months [3] - The Congressional Budget Office previously estimated that tariff revenue could total approximately $2.8 trillion over the next decade, a figure Mnuchin believes may be underestimated [4] Future Tariff Actions - President Trump has set a deadline of August 1 for implementing higher reciprocal tariff rates on nearly all trading partners, while still allowing for negotiations with some countries to potentially lower these rates [10] - Trump announced plans to impose a 50% tariff on copper imports, which is widely used across various sectors, including housing, consumer electronics, and military hardware, with additional tariffs on semiconductors and pharmaceuticals expected [10]

Market Performance - Major U.S. stock indices experienced significant gains, with the Dow Jones up 2.81%, Nasdaq up 4.35%, and S&P 500 up 3.26%, marking the highest closing levels since March [4][5] - The Nasdaq China Golden Dragon Index surged by 5.40%, reaching a new high since April 4, driven by strong performances from popular Chinese stocks [3][6] Economic Indicators - The New York Federal Reserve's second-quarter GDP real-time forecast increased to 2.42%, up from 2.34% the previous week, providing a favorable environment for major stock ETFs [4] - U.S. tariff revenue in April soared to a record $16.3 billion, an 86% increase from March's $8.75 billion and more than double the $7.1 billion from the same month last year [4] - Cumulative tariff revenue for the 2025 fiscal year reached $63.3 billion, over 18% higher than the same period in 2024 [4] Technology Sector - Major tech stocks saw substantial increases, with Amazon rising over 8%, Meta over 7%, and Apple, Tesla, and Nvidia all gaining over 5% [3][5] - Speculation surrounds Apple's potential price increase for the upcoming iPhone 17 series, with the current iPhone 16 series starting at $799 [5][6] Chinese Stocks - Notable gains in Chinese stocks included WeRide up over 27% and XPeng and Bilibili both rising nearly 8% [3][6] - WeRide announced a strategic partnership with Uber to expand autonomous Robotaxi services in 15 new cities over the next five years, with Uber committing an additional $100 million investment [6] Pharmaceutical Sector - The pharmaceutical sector saw collective gains, with Pfizer and Novo Nordisk both rising over 3% following Trump's signing of an executive order aimed at lowering prescription drug prices [7][8] - The executive order mandates that pharmaceutical companies provide "most favored nation pricing" to the U.S. market, aligning drug prices with those in other developed countries [8][9]