（原标题：Exclusive: U.S. Has De Facto Left the WTO, Other Members Have to Move Forward: Former WTO DG） By Harry Wu, 21st Century Business Herald, SFC In the blink of an eye, the World Trade Organization (WTO) Appellate Body has been incapacitated for nearly six years. In 2017, the United States adopted a series of unilateralist and trade protectionist measures that eroded and damaged the WTO's basic principles, maliciously blocking appointments to the Appellate Body. On December 11, 2019, the WTO Appellate Body ...

Core Insights - The European Union is experiencing a significant increase in imports from China, particularly in the plug-in hybrid car sector and specialty products, raising concerns about potential market distortions and competition fairness [1][2][3]. Import Trends - Plug-in hybrid car imports doubled in the first half of 2025, with over 50% originating from China, while specialty products saw increases up to tenfold [1]. - Chinese exports to the EU grew by just over 14% in September, contrasting with a 27% decline in exports to the U.S. [6]. - E-commerce platforms like Alibaba's AliExpress and Shein have facilitated a surge in low-value goods imports from China, taking advantage of the EU's duty-free treatment for packages under 150 euros ($175) [7][8]. Industry Concerns - European businesses, particularly in the tyre and fashion sectors, express concerns over the influx of low-priced imports, which they believe undermines local competition [4][12]. - Industry leaders, including those from France and Italy, are advocating for the EU to take protective measures against Chinese imports to safeguard local jobs and businesses [4][14]. Regulatory Actions - The European Commission has opened 15 investigations and imposed duties on 18 products, primarily from China, but faces a backlog in addressing the rising import cases [2][18]. - There are calls for the EU to implement tariff quota systems and expedite the removal of the 150-euro de minimis threshold to better manage the influx of imports [20][21]. Economic Implications - The weakening yuan against the euro has made Chinese imports cheaper, contributing to the rising import volumes [16]. - The EU's trade measures are often seen as reactive rather than proactive, with industry leaders urging for more timely and effective actions to address market distortions caused by Chinese overcapacity [19].

Corporate Earnings - Tesla (TSLA) is the first of the Magnificent Seven companies to report earnings, with significant attention from investors [1][4] - S&P 500 companies are expected to see an average quarterly earnings increase of +7.2% for Q3 compared to the previous year, marking the smallest rise in two years [1] Market Performance - Wall Street's major indexes ended mixed, with General Motors (GM) gaining over +14% after better-than-expected Q3 results and raised full-year adjusted EPS guidance [3] - Warner Bros. Discovery (WBD) climbed more than +10% after announcing a review of strategic alternatives [3] - Halliburton (HAL) surged over +11% following stronger-than-expected Q3 results [3] - Netflix (NFLX) slumped over -6% in pre-market trading due to weaker-than-expected Q3 EPS [5][15] - Texas Instruments (TXN) plunged more than -8% in pre-market trading after posting weaker-than-expected Q3 EPS and underwhelming Q4 guidance [5][15] Economic Indicators - Investors are awaiting the EIA's weekly crude oil inventories report, with expectations of 2.2 million barrels compared to last week's 3.5 million barrels [6] - U.S. rate futures indicate a 96.7% chance of a 25 basis point rate cut at the next FOMC meeting [7] International Market Trends - The Euro Stoxx 50 Index is down -0.44% as investors react to mixed corporate earnings reports and uncertainty in U.S. negotiations with other nations [10] - Japan's Nikkei 225 Stock Index closed just below the flatline, with automobile stocks outperforming due to a weaker yen and hopes for lower gasoline taxes [13] - Japan's September exports rose +4.2% year-on-year, although this was weaker than expectations [14]

Group 1: Tesla Lawsuit - Tesla is facing a proposed class-action lawsuit alleging systematic preference for H-1B visa holders over American workers, claiming this practice constitutes "wage theft" and violates federal civil rights law [2][3][8] - In 2024, Tesla reportedly hired approximately 1,355 H-1B visa holders while laying off over 6,000 U.S. workers, with the majority believed to be American citizens [3][8] - The lawsuit could set a precedent for how tech companies utilize visa programs and impact hiring practices across the industry, particularly regarding fair compensation and equal opportunity [3][8] Group 2: Indian Tourism Decline - The U.S. tourism industry is experiencing a 15% decline in Indian tourist visits in August compared to the previous year, marking the third consecutive month of decline [4][5] - This trend is projected to cost American businesses approximately $340 million in visitor spending this summer [4][5] - Contributing factors include escalating geopolitical tensions between the U.S. and India, significant visa delays averaging four months, and a stark contrast to the robust growth in Indian tourism to the U.S. in 2024 [5] Group 3: Canada's Lumber Industry - Canada's $63 billion lumber industry is facing challenges due to proposed 25% tariffs on all Canadian imports to the U.S., which could significantly diminish competitiveness [6][7] - The Canadian economy is highly exposed to U.S. trade, with 76% of its exports destined for the United States, accounting for approximately 20% of its total GDP [7] - These tariffs could lead to an economic downturn and increased unemployment across Canada, while also raising raw material costs for U.S. homebuilders [7] Group 4: EU Financial Data-Sharing System - The EU plans to exclude major tech firms identified as "gatekeepers" from its forthcoming Financial Data Access (FiDA) framework to ensure fair competition and data protection [9][10] - This initiative aims to prevent dominant tech firms from gaining undue control over open finance markets, although it has drawn criticism for potentially stifling innovation [10] - Trilogue negotiations critical for finalizing the FiDA framework are scheduled to resume in June 2025 [10] Group 5: Lockheed Martin's Vectis Stealth Drone - Lockheed Martin has unveiled the Vectis Stealth Drone, a modular Collaborative Combat Aircraft designed for multi-mission roles and integration with F-22 and F-35 fighter jets [11][12] - The drone incorporates AI-enabled architectures to enhance human-machine collaboration, allowing pilots to command multiple drones from a 5th Gen cockpit [12] - This development underscores Lockheed Martin's commitment to advancing air dominance solutions and ensuring U.S. and allied air superiority for decades [12]

Beneath the optimism propelling the S&P 500 toward fresh record highs is lingering concern that trade protectionism will inflict lasting damage on US assets, according to the latest Markets Pulse survey https://t.co/LGIgqcFrVf ...

Core Viewpoint - The reintroduction of tariffs by the Trump administration is expected to negatively impact several companies, particularly General Motors, Lenovo Group, and Magna International, leading to significant stock declines in 2025 due to trade tensions and protectionist policies [2][14]. Group 1: General Motors - General Motors (GM) has seen a double-digit percentage decline in its stock year to date, despite better-than-expected fourth-quarter results [3]. - GM exports more light vehicles made in Mexico to the U.S. than any other automaker, with 12% of its assets located in Mexico, making it vulnerable to tariffs [4]. - The company has major facilities in Canada and China, and its CEO has indicated that GM is preparing to mitigate the impacts of tariffs, but the stock is still predicted to be a major loser [5]. Group 2: Lenovo Group - Lenovo Group, the world's largest PC maker, has experienced a stock increase of over 30% this year, but its future prospects are uncertain due to its status as a Chinese company [6]. - Approximately 34% of Lenovo's total revenue comes from North America, primarily the U.S., and the company has manufacturing locations in China and Mexico, which will be adversely affected by tariffs [7][8]. - Although Lenovo's CEO believes tariffs may not significantly harm the business, the potential for steeper tariffs on Chinese imports could worsen the situation [9][10]. Group 3: Magna International - Magna International has seen its shares fall roughly 8% year to date and around 30% over the past year, with expectations of continued decline due to tariffs [12]. - The company has identified "increasing trade protectionism" as a risk factor, indicating that tariffs could escalate into a global trade-tariff war, impacting its business as a major supplier to U.S. automakers [13].