Core Points - The U.S. President Trump signed an executive order to implement the U.S.-Japan trade agreement, which includes a reduction of tariffs on Japanese cars and parts from 27.5% to 15% [1] - The executive order defines "reciprocal" tariffs and addresses previous disputes regarding cross-border tariffs [1] - Japan has agreed to invest $550 billion in the U.S., with investments to be selected by the U.S. government [2] Group 1 - The executive order officially implements the U.S.-Japan trade agreement [1] - Tariffs on Japanese cars and parts will be reduced to 15%, requiring an administrative process to be completed within seven days of publication in the Federal Register [1] - The order specifies that for Japanese products with existing tariffs below 15%, the total tax rate will be 15%, while products with existing tariffs of at least 15% will have reciprocal tariffs set to zero [1] Group 2 - The measure will apply to Japanese products entering the U.S. market on or after August 7 at 12:01 AM Washington time [1] - The order authorizes the U.S. Secretary of Commerce to modify the reciprocal tariff rates to zero for specific Japanese products, including natural resources and generic drugs [1] - Japan's commitment to invest $550 billion in the U.S. is part of the trade agreement, with the U.S. government having the authority to select the investments [2]

Group 1 - The first batch of tariff measures has been in effect for six months, leading to a significant increase in the actual tariff rate in the U.S. from approximately 2.5% to nearly 20% [2] - Seven countries and regions are currently negotiating trade arrangements with the U.S., accounting for over a quarter of U.S. imports, with tariff rates fluctuating between 15% and 20% [2] - The U.S. has agreed to differentiated tariff reductions based on Section 232 reviews, with the U.K. receiving special treatment in the steel and aluminum sectors, maintaining a 25% tariff while others face 50% [2] Group 2 - The EU has announced a 15% tariff on pharmaceuticals and semiconductors, which is expected to be lower than the final tariff levels for these industries [3] - The EU's adjustments are significant as it is projected to account for 62% of U.S. imports in the pharmaceutical sector by 2024 [3] - The trade agreements with the U.S. involve over a trillion dollars in investment intentions across various sectors, although specific details remain unclear [3] Group 3 - The silver T+D market showed a fluctuating upward trend, closing at 9183 yuan/kg, with a daily high of 9224 yuan/kg and a low of 9124 yuan/kg [1][4] - Resistance levels for silver T+D are noted at 9224-9300, while support levels are identified at 9000-9124 [4]