新华社北京8月26日电 综述｜美关税政策拖累日本多行业 新华社记者李诗萌 日本财务省近日发布的贸易统计数据及主要上市公司财报显示，美国关税政策对日本经济产生显著 负面影响，汽车及零部件、钢铁、化工等多个行业利润严重缩水，中小企业普遍担忧美国加征关税将引 发减产等连锁反应。 数据显示，日本对美国汽车及零部件等出口明显下滑，导致日本7月对美出口额同比下降10.1%至 1.73万亿日元（1美元约合147日元），连续4个月同比下降。由于日美贸易协议有关将输美汽车及汽车 零部件关税下调至15%的内容尚未实施，目前日本输美汽车仍面临高达27.5%的关税。受此影响，7月日 本对美汽车出口额同比下降28.4%至4220亿日元，出口量同比减少3.2%至12.35万辆。 日本经济新闻社日前对东京证券交易所主板市场中1069家企业进行的统计结果显示，美国加征关税 给日本多个行业造成广泛影响，今年第二季度上述企业合计净利润时隔3年出现下降，同比减少12%至 12.3万亿日元。其中，汽车及零部件行业受损最严重，二季度利润下滑约9800亿日元，降幅为45%。本 田因关税成本大幅增加，净利润下降50%。 受美国关税政策和市场疲软双重冲击， ...

今年以来，聊城市深入贯彻落实"制造业强市"战略部署，充分发挥汽车及零部件产业链牵头部门作 用，以科技创新与产业创新深度融合为抓手，持续推动产业链上下游协同发展、提质升级。截至目前， 全市拥有规上企业71家，培育"小巨人"企业2家、专精特新中小企业48家、瞪羚企业12家。拥有中通客 车、中通新能源和时风集团3家整车制造龙头企业，以及友升铝业、博源精密、通盛汽车、端子电器等 车身铝合金材料、电池部件、空调、线束生产企业。同时，培育高新技术企业56家、科技型中小企业35 家；实施"一链一院"行动，推动产业链龙头企业中通客车与山东交通学院共建"聊城市低碳智能车辆技 术及应用现代产业学院"。经过多年持续发展，已形成集整车和零部件研发、生产、贸易于一体的汽车 产业体系。 下一步，聊城市将依托产业基础和创新资源，聚焦企业发展需求，以科技创新为驱动，全面推进汽 车及零部件产业向高端、智能、绿色方向转型升级。（记者 孙亚飞） 记者从聊城市获悉，今年上半年，全市汽车及零部件产业链完成产值161亿元，同比增长14.9%， 增速居12条产业链首位。 ...

2025 年 08 月 20 日 对等关税 2.0 后，行业关税或将成关键新变量 宏观研究团队 ——宏观经济专题 hening@kysec.cn 何宁（分析师） 潘纬桢（分析师） panweizhen@kysec.cn 证书编号：S0790524040006 已达成贸易协定：阶段性框架协定为主，实质内容不多 1. 特朗普政府在贸易谈判上取得了一定成果。截至 8 月 18 日，特朗普政府与英 国、欧盟、日本、韩国等国家和地区达成了贸易协定，这些国家和地区占 2024 年美国商品总进口的比例为 38.6%，占美国 2024 年商品逆差的 49.8%（不含英 国）。但除了英国与美国达成的贸易协定相对具体外，其他国家的贸易协定更像 是一个临时性质的框架协定，缺乏具体的内容安排。且无论美国对贸易伙伴是顺 差/逆差，美国都是单方面征收关税，所有协定均存在明显的关税税率不对等。 2. 美英贸易协定：10%普征关税叠加行业出口配额。美英双方于 5 月 8 日达成 美英经济繁荣协议一般条款（EPD）：一是部分行业关税税率的相互降低，但设 定了不同程度的限额；二是非关税壁垒的放宽，主要涉及市场准入标准以及共同 监管问题；三是增加 ...

Core Viewpoint - The automotive and parts industry in Liaocheng is experiencing significant growth and transformation, driven by technological and industrial innovation, with a focus on high-end, intelligent, and green development. Group 1: Industry Performance - In the first half of the year, the automotive and parts industry chain in Liaocheng achieved an output value of 16.1 billion yuan, representing a year-on-year growth of 14.9%, the highest growth rate among 12 industry chains [1] - The industry comprises 71 large-scale enterprises, including 2 "little giant" enterprises, 48 specialized and innovative small and medium-sized enterprises, and 12 gazelle enterprises [1] - Major manufacturers include Zhongtong Bus, Zhongtong New Energy, and Shifeng Group, along with various companies producing aluminum alloy materials, battery components, air conditioning, and wiring harnesses [1] Group 2: Production Capacity - The industry has the capacity to produce 30,000 buses, 20,000 special vehicles, 1.3 million agricultural vehicles, and 80,000 light trucks, along with significant production capabilities for various automotive components [2] - Liaocheng is positioned as a key national base for the research and manufacturing of buses, special vehicles, and parts [2] Group 3: Strategic Initiatives - The city government is focusing on attracting and consolidating industry chains, enhancing the industrial foundation by organizing supply chain matching activities and participating in domestic and international automotive exhibitions [2] - The strategy includes targeted recruitment of upstream and downstream enterprises in areas such as batteries, motors, and intelligent driving to create a clustered industrial effect [2] Group 4: Innovation and Development - The city supports enterprises in increasing investment, building platforms, attracting talent, and promoting research and development to enhance innovation capabilities [3] - Collaboration between enterprises and academic institutions is encouraged to tackle key technological challenges and advance the industry [3] Group 5: Leadership and Support - The strategy emphasizes the role of leading enterprises in driving the industry, with support for companies like Zhongtong Bus and Shifeng Group to expand and innovate [3] - Efforts are made to optimize the industrial environment through expert consultations, financial support, and policy implementation to stimulate enterprise growth [3]

Core Viewpoint - The article emphasizes the importance of enhancing international cooperation and investment strategies for companies in the context of global economic changes, advocating for a shift from individual overseas ventures to a more collaborative and resilient approach in international markets [1][2]. Group 1: Trends in Overseas Investment - Companies are transitioning from "single-point overseas" strategies to systematic "group overseas" approaches, focusing on both efficiency and safety [1]. - There is a growing emphasis on localizing operations rather than merely establishing overseas points, aiming for deeper integration in foreign markets [1]. Group 2: Industry Focus and Development - The province is a significant industrial and agricultural hub, with key industries including food, equipment manufacturing, and electronic information, which are encouraged to develop into multinational corporations [1]. - Companies in energy and raw materials are supported to enhance overseas resource development and technical capabilities [1]. Group 3: International Market Network Enhancement - Companies are urged to establish a robust international market operation network, focusing on compliance, precision, and specialization [2]. - The strategy includes identifying key regions for investment, particularly in the context of the Belt and Road Initiative and RCEP [2]. Group 4: Innovative Outbound Strategies - The development of overseas industrial parks and trade cooperation zones is encouraged to facilitate cultural integration and brand building [3][4]. - Companies are advised to leverage e-commerce and digital platforms to expand their export capabilities, particularly in emerging industries like new energy vehicles and smart technology [3]. Group 5: Policy Support and Ecosystem Development - A comprehensive support system is proposed to address challenges faced by companies in international markets, including financial services and legal assistance [5]. - The establishment of a "Henan Enterprises Going Global" alliance is suggested to pool resources and provide integrated services for companies venturing abroad [5].

Core Insights - Shifeng Group has developed a diversified industrial structure focusing on three-wheeled vehicles, commercial vehicles, tractors, and engines, alongside nylon industrial fabrics and other sectors since its establishment in 1993 [1][3] - The company has received numerous national and provincial honors, including "National Civilized Unit" and "National Innovation Enterprise," highlighting its commitment to quality and innovation [1][3] Group 1: Business Development - Shifeng Group is recognized as a chain leader in the automotive and equipment manufacturing industry in Liaocheng, aiming to drive transformation and upgrades in these sectors [3][5] - The company has successfully upgraded its products to meet national emission standards, with three-wheeled vehicles and tractors achieving National IV and commercial vehicles achieving National VI standards [3] - In 2023, Shifeng's three-wheeled vehicles and single-cylinder diesel engines saw a 103% increase in sales in the African market, while commercial vehicles experienced a 30% sales growth in Vietnam and Kazakhstan [3] Group 2: High-End Manufacturing and Innovation - Shifeng Group has entered high-value supply chains for high-end automotive parts and offshore photovoltaic industries, achieving a 35% year-on-year growth in this segment from January to July [4] - The company is a core supplier for the 2 million KW tidal photovoltaic demonstration project, contributing to national green energy initiatives and achieving full operational capacity in its workshops [4] Group 3: Energy Transition and Sustainability - Shifeng Group is developing a comprehensive "source-network-load-storage-cloud" model, planning to construct a 120MW photovoltaic power station and a 200MWh energy storage facility [4] - This initiative aligns with the dual carbon goals and aims to enhance energy efficiency, positioning the company as a model for green and low-carbon development in manufacturing [4] Group 4: Industry Collaboration - Shifeng Group actively participates in industry events and collaborates with over 270 companies to strengthen the equipment manufacturing sector in Liaocheng [5] - The company has formed strategic partnerships with major players in the automotive and equipment manufacturing industries, becoming a crucial part of the provincial supply chain [5]

Group 1 - Japan will face an additional 15% "reciprocal tariff" on imported goods that are already subject to 15% or higher tariffs, which means Japan will not receive the same "non-accumulation of tariffs" treatment as the EU [1] - The trade agreement reached on July 22 stipulates that the applicable "reciprocal tariff" rate for Japan will be 15%, increasing from the current 10% starting in August [1] - Japan's Economic Revitalization Minister, Akira Amari, has expressed concerns over the U.S. government's announcement that Japanese goods will incur an additional 15% tariff, which contradicts the previously agreed terms [1] Group 2 - The recent agreement between Trump and Akira Amari involved reducing the reciprocal tariff on Japanese goods from 25% to 15% in exchange for increased Japanese investment in the U.S. [2] - The specific timeline for adjustments to automobile tariffs remains unclear, and further discussions are expected between Akira Amari and U.S. Treasury Secretary Mnuchin [2] - As of August 7, international spot gold prices have shown a slight increase, reflecting broader market conditions [2]

Group 1 - Japan's Economic Revitalization Minister, Akizumi, expressed concerns that the U.S. announcement regarding tariffs starting August 7 is inconsistent with the previously agreed trade deal, leading to higher tariffs for Japan [1] - The trade agreement reached on July 22 stipulated that Japan's "equivalent tariff" rate would be 15%, but the U.S. announcement indicates an additional 15% on top of the existing rates, which contradicts the agreement [1] - Akizumi emphasized the need for the U.S. to clarify the situation and adhere to the agreed terms, particularly regarding the tariffs on automobiles and auto parts, which currently face a 27.5% tariff [1] Group 2 - The U.S. President Trump mentioned that Japan's commitment to invest $550 billion could be utilized for various investments at the discretion of the U.S. [2] - Akizumi responded that Japan cannot cooperate if the investments do not benefit Japanese companies and the economy [2]

Group 1 - The core viewpoint of the articles highlights the increasing demand for talent in the private sector of Liaoning Province, with private enterprises accounting for nearly 90% of the total talent needs [1][2] - As of the end of June, 5,138 enterprises and institutions in Liaoning reported a total of 20,764 talent demand entries, indicating a robust growth in talent needs from private companies [1] - In the second quarter, 4,534 private enterprises expressed talent needs, representing 89.71% of all reporting companies, an increase of 1.08 percentage points from the first quarter [1] Group 2 - The demand for talent is concentrated in four trillion-level industrial bases and 22 key industrial clusters, with a focus on modern livestock and related industries showing rapid growth [1] - The top three industries in terms of talent demand are raw materials industry, high-end equipment manufacturing, and agriculture, collectively accounting for 35.03% of total enterprise demand [2] - Mechanical manufacturing positions continue to lead the demand rankings, with mechanical/manufacturing roles and automation majors being the most sought-after for six consecutive quarters starting from Q1 2024 [2]

Core Insights - The 2025 Fortune Global 500 list reflects the power dynamics of global enterprises, showcasing the economic fluctuations, industry transformations, and shifts in national strengths [1]. Group 1: Overall Performance - The total revenue of the companies on the list reached approximately $41.7 trillion, accounting for over one-third of the global GDP, with a year-on-year growth of 1.8% [2]. - Total profit for these companies was about $2.98 trillion, showing a slight increase of 0.4%, marking the second-highest profit in history [2]. - The average revenue of the 124 Chinese mainland companies listed was approximately $10.21 trillion, representing 25.7% of the total revenue of the Fortune Global 500 [11]. Group 2: Chinese Companies - Among the 124 Chinese mainland companies, 49 saw their rankings improve, while 68 experienced declines, with state-owned enterprises remaining the main contributors to the list [6]. - Five major Chinese private internet companies improved their rankings, with JD.com leading as the highest-ranked private enterprise from mainland China at $161.06 billion in revenue, up three places to rank 44 [7]. - The number of Chinese companies on the list is the lowest in six years, with 130 companies total, including six from Taiwan, a decrease of three from the previous year [9]. Group 3: Profitability and Employment - The average profit of the 124 Chinese companies was $4.2 billion, which is significantly lower than the average profit of $9.7 billion for U.S. companies [13]. - Approximately 40% of the companies on the list have undergone significant layoffs, with a total reduction of 360,000 employees to 70.14 million [32]. - The trend of layoffs is increasing, with 40% of companies reporting layoffs in 2024, up from 35% in 2023 [36]. Group 4: Industry Insights - The majority of Chinese companies on the list are concentrated in traditional sectors, particularly heavy asset industries, which tend to have lower profit margins due to high fixed costs [20]. - The automotive sector in China is facing challenges, with ten companies listed but showing a decline in profitability, with total profits down 20.4% to $14.7 billion [24]. - In contrast, global automotive companies have an average sales return of 4.3%, nearly double that of Chinese automotive firms [26]. Group 5: Notable Companies - Saudi Aramco remains the most profitable company globally, despite a 13% decline in profits, with $105 billion in profit [39]. - Nvidia has seen a remarkable profit increase of 145%, entering the top ten for the first time, with the highest profit margin among the listed companies at over 55% [43]. - Pinduoduo leads Chinese companies in return on equity (ROE) at 36%, ranking 25th overall [47].