Group 1 - The European Union (EU) member states are set to vote on retaliatory tariffs amounting to €93 billion against U.S. goods on Thursday [1]

Group 1 - Gold prices experienced a sharp decline, dropping below $3410 per ounce, with a daily decrease of over $22 [1] - U.S. President Trump expressed willingness to abandon tariff clauses if major countries open their markets to the U.S., indicating a potential shift in trade negotiations [1] - Japan has reportedly agreed to open its market to the U.S. for the first time, including sectors like automobiles and agriculture, and has committed to purchasing military equipment worth billions [1] Group 2 - U.S. stock indices opened higher, with the Nasdaq China Golden Dragon Index rising over 1% and major Chinese tech indices increasing by more than 2% [2] - The European Union remains firm in its stance, planning to impose tariffs on nearly €100 billion worth of U.S. goods if trade negotiations fail [3] - The EU's countermeasures will combine previous tariffs on €210 billion worth of U.S. goods with an additional €720 billion, pending approval from EU member states [3]

Core Points - The European Commission confirmed plans to impose tariffs on nearly €100 billion worth of U.S. goods if trade negotiations fail and the U.S. imposes high tariffs on EU products [1] - The EU aims to merge its previous tariff list targeting €21 billion of U.S. goods with a new list covering €72 billion, creating a unified response plan [1] - The proposed tariffs will affect U.S. products such as Boeing aircraft, automobiles, and bourbon whiskey, with rates matching those threatened by the U.S. against EU goods [1] - EU member states, including Germany, are increasingly supportive of strong countermeasures if negotiations with the U.S. do not succeed [1]

Core Viewpoint - The Premier of British Columbia, Canada, has expressed concerns that additional retaliatory tariffs from the United States could cause significant damage to the province's economy [1] Group 1 - The Premier highlighted the potential negative impact on trade relations between Canada and the U.S. due to increased tariffs [1] - There is a warning that these tariffs could lead to job losses and economic instability in British Columbia [1] - The statement reflects broader concerns within the Canadian government regarding U.S. trade policies and their implications for Canadian industries [1]

Core Point - The European Union has finalized a countermeasure list targeting $72 billion worth of U.S. goods, including Boeing aircraft, automobiles, and bourbon whiskey [1] Group 1 - The countermeasures will also apply to machinery products, chemicals, plastics, medical devices, electrical equipment, wine, and other agricultural products [1]

Economic Data - In June, China's social financing increased by 4.2 trillion yuan, with new RMB loans amounting to 2.24 trillion yuan, and the M2-M1 spread narrowing [1] - China's exports in June, measured in USD, grew by 5.8% year-on-year, while imports increased by 1.1% [1] - Rare earth exports reached the highest level since 2009, iron ore imports hit a year-to-date high, and steel exports in Q2 set a record [1] Market Reactions - The S&P 500 index barely rose as investors awaited US inflation data [1] - Bitcoin experienced a pullback after reaching a new high [1] - Crude oil prices fell by 3% [1] Trade Relations - The EU is preparing to impose counter-tariffs on US goods worth 720 billion euros [1] - Trump threatened to impose a 100% tariff on Russia if a peace agreement regarding Ukraine is not reached within 50 days [1] Corporate Developments - Elon Musk announced that a "monumental" demonstration of the next-generation Optimus robot is expected by the end of the year [1] - Meta is planning to invest hundreds of billions to build the world's largest data center and is considering shifting from open-source to closed-source [1] Upcoming Data Releases - China is set to release significant GDP data on Tuesday, while the US will announce June CPI data on the same day [1]

Group 1 - The trade war initiated by the U.S. has led to a shift in global dynamics, with many countries, inspired by China's firm stance, refusing to yield to U.S. pressure [1][2] - The U.S. is facing increasing difficulties in its trade relations, particularly with China, as it relies heavily on Chinese manufacturing and strategic resources like rare earth minerals [1][2] - The European Union has taken a strong position against the U.S., planning to implement counter-tariffs on U.S. goods worth €210 billion and potentially up to €950 billion [4][5] Group 2 - Japan has shifted from a compliant stance to a confrontational one, refusing to accept a 25% tariff on automobiles, indicating a significant change in its trade policy [5][6] - India, previously seen as likely to concede to U.S. demands, is now prepared to resist, with its representatives arriving in the U.S. for negotiations [5][6] - Canada has taken a bold step by imposing a digital services tax on U.S. tech companies, which has escalated tensions with the U.S. [6][8] Group 3 - The U.S. is in a precarious position as it faces a potential trade war with 30 countries, and the expiration of its high tariffs on certain trade partners is approaching [8][9] - Recent data shows that the U.S. trade deficit has widened significantly, and GDP growth has underperformed, putting additional pressure on the Trump administration [9]

Core Viewpoint - The Canadian Minister of Industry has indicated that the possibility of implementing additional counter-tariffs has not been ruled out [1] Group 1 - The Canadian government is considering further measures in response to existing tariffs [1]

Core Viewpoint - The article highlights the positive outcomes of the recent economic talks between China and the United States, emphasizing the agreement to significantly reduce bilateral tariff levels [1]. Summary by Relevant Sections - The U.S. has committed to canceling 91% of its tariffs and suspending the implementation of 24% reciprocal tariffs, while China will also cancel 91% of its counter-tariffs and suspend 24% of its countermeasures, retaining 10% tariffs on both sides [1]. - The article mentions that the U.S. imposed additional tariffs on China under the pretext of fentanyl issues, to which China responded promptly with both tariff and non-tariff measures to protect its legitimate rights and interests, and these countermeasures remain effective [1].

Core Viewpoint - India has notified the World Trade Organization (WTO) of its proposal to impose counter-tariffs on certain products manufactured in the United States, in response to the tariffs imposed by Washington on India's steel and aluminum products [1] Group 1 - India is targeting products imported from the U.S. as a retaliatory measure against U.S. tariffs [1] - The proposed tariffs are aimed at countering the impact of U.S. tariffs on Indian steel and aluminum [1]