Group 1: Tariffs and Pricing Strategy - The imposition of 39% tariffs is viewed as detrimental, but there is optimism that a better solution will emerge soon [1][2] - The watch industry has responded by increasing prices by 4% globally to mitigate the impact of tariffs, indicating a level of pricing power [2][3] - Despite the tariffs, the company is experiencing strong double-digit growth in sellout in the US market, which is described as booming with positive consumer sentiment [3] Group 2: Macroeconomic Concerns in Europe - There are significant macroeconomic challenges in Europe, particularly in Germany and France, with France facing a high debt level of 3 trillion, the highest in Europe [4] - Political instability in Germany is also a concern, with weak political leadership being highlighted as frightening [5] Group 3: Market Performance in China and Other Regions - The Chinese market has shown signs of stabilization and growth, with the company now seeing it as a significant market comparable to major European countries [8] - Other regions such as South and Latin America, the Middle East, and India are performing well, contributing to a generally positive global market environment [9][10]