美国联邦最高法院9月9日宣布，将审议特朗普政府征收的多数关税的合法性，定于11月首周听取口头辩论。 特朗普政府正在悄悄调整其标志性的关税政策。 据新华社此前报道，美国联邦最高法院9月9日宣布，将审议特朗普政府征收的多数关税的合法性，定于11月首周听取口头辩论。 而在举行听证会之前，据统计，特朗普政府近期已免除了数十种商品的关税，并在与各国的贸易协定谈判中提出了数百种商品的关税豁免方案。 与此同时，可以看到特朗普政府也在根据1962年《贸易扩展法》第232条扩大关税的适用范围，近期则将重型卡车、药品和家具纳入其中。 第一财经记者采访的多位专家表示，此举旨在规避最高法院可能否决其所谓"对等关税"政策所带来的法律风险：如果最高法院作出不利于政府的裁决，特朗 普政府可能被迫退还大量已征收的关税。 英国杜伦大学法学院副院长、跨国法教授兼全球政策研究所联合主任杜明对第一财经记者表示，如果美国最高法院接受审理后判决特朗普政府败诉，那么已 经征收的关税或要连本带利退还，而且这还是商家未要求美国政府赔偿其他损失的情况下。 豁免范围大幅扩大 最近几周，特朗普政府已将数十种产品从其所谓的"对等关税"中豁免，并表示，当各国与美国达成 ...

Company Overview - Reliance is a metal service center company focused on processing and distribution of metals, founded in Los Angeles in 1939, with over 85 years of experience [1] - The company operates approximately 320 locations, primarily in the U.S. and North America, with some international presence [1] - Reliance has diversified its offerings, selling over 100,000 metal products to more than 125,000 customers [1] Business Strategy - The company employs a decentralized operational model, often through acquisitions, while maintaining the brand names of acquired companies [1] - Reliance believes in the value of the companies it acquires and differentiates itself from larger service center companies through its focus on diversification [1]

Group 1 - Brazil has initiated procedures under the Economic Equivalence Law in response to the 50% tariffs imposed by the U.S. on Brazilian exports, with President Lula stating that while Brazil is preparing countermeasures, it is not in a hurry to retaliate and prefers negotiation to resolve the dispute [1][2] - The U.S. currently imposes a 40% tariff on Brazilian products, with many facing rates as high as 50%, including meat, coffee, and fruits, while certain products like aircraft, nuts, orange juice, and some metals are exempt [2] - Brazil's Foreign Trade Council can impose countermeasures such as taxing imports from countries that negatively impact Brazil's international competitiveness due to unilateral actions [2] Group 2 - President Lula criticized the U.S. for a lack of seriousness in bilateral relations, noting that Brazil has not been able to engage in dialogue with U.S. officials, and expressed willingness to negotiate but will not beg for a meeting [3] - Mexico is pushing for a complementary trade agreement with Brazil, with plans to sign a supplementary trade agreement by August next year, indicating a strengthening of trade relations between the two countries [4] - Bilateral trade between Brazil and Mexico is projected to grow from $10 billion in 2019 to over $13.5 billion by 2024, marking a 35% increase, particularly in the automotive and agricultural sectors [5]

Core Viewpoint - Brazil has initiated procedures under the Economic Equivalence Act in response to the United States imposing a 50% tariff on Brazilian exports, while expressing a preference for negotiation over retaliation [1][2]. Group 1: Brazil's Response to U.S. Tariffs - Brazil's government has formally notified the U.S. Trade Representative's Office about the initiation of procedures under the Economic Equivalence Act due to high tariffs imposed by the U.S. [2] - President Lula authorized an investigation to assess whether the U.S. unilateral tariff actions meet the conditions for invoking the Economic Equivalence Act, with a technical analysis report due within 30 days [2] - Lula emphasized the need for dialogue with the U.S. and expressed disappointment over the lack of high-level communication, stating that Brazil is willing to engage in talks but will not beg for a meeting [5][2]. Group 2: Tariff Details and Economic Impact - The U.S. currently imposes a 40% ad valorem tariff on Brazilian products, with many facing tariffs as high as 50%, including meat, coffee, and fruits, while some products like aircraft and nuts are exempt [2] - Brazil's Congress passed the Economic Equivalence Act in April, allowing the government to impose countermeasures against unilateral actions that negatively impact Brazil's international competitiveness [2]. Group 3: Legal Actions and International Relations - Brazil's Finance Minister mentioned the possibility of filing a lawsuit in U.S. courts against the high tariffs imposed by the U.S. government [3]. - Lula criticized the U.S. for a lack of seriousness in bilateral relations, indicating that Brazil would focus on expanding other markets if negotiations do not progress [5]. Group 4: Trade Relations with Mexico - Mexico is pushing for a complementary trade agreement with Brazil, with plans to sign a supplementary trade agreement by August next year [7]. - Bilateral trade between Brazil and Mexico has increased from $10 billion in 2019 to over $13.5 billion projected for 2024, marking a 35% growth, particularly in the automotive and agricultural sectors [7].

Group 1 - The Brazilian government has initiated procedures related to the Economic Equivalence Act in response to the United States imposing a 50% tariff on Brazilian exports [1][4] - President Lula expressed that while Brazil is preparing countermeasures, there is no urgency to retaliate against the U.S., and he prefers to resolve the dispute through negotiations [2][4] - Brazil's Congress passed the Economic Equivalence Act in April, allowing the foreign trade committee to impose countermeasures such as tariffs on imports from countries that negatively impact Brazil's international competitiveness [4] Group 2 - The U.S. has imposed a 40% tariff on Brazilian products, with many facing a total tariff rate of up to 50%, affecting items like meat, coffee, and fruits, while some products like aircraft and nuts are exempt [4][6] - Brazil's Finance Minister mentioned the possibility of filing a lawsuit in U.S. courts against the high tariffs imposed by the U.S. government [6] - A recent U.S. court ruling stated that the previous administration's authority to impose tariffs was not legally justified, which could impact ongoing trade policies [7]

Group 1 - The core point of the article is the approval of the "Sovereign Brazil Plan" by President Lula to support the Brazilian economy in response to the recent high tariffs imposed by the U.S. on Brazilian exports [1][3] - The plan includes credit support of approximately 30 billion reais (about 5.5 billion USD) for exporters directly affected by U.S. tariffs through an export guarantee fund [3] - Additional measures in the plan involve tax incentives of about 4.5 billion reais for small and medium-sized enterprises, extending and relaxing export tax refund mechanisms, and expanding export order insurance coverage to mitigate international market risks [3] Group 2 - The U.S. has imposed a 40% tariff on Brazilian products starting August 6, with exemptions for certain items such as aircraft, nuts, orange juice, and some metal products [3] - The tariffs are linked to a judicial case involving former Brazilian President Bolsonaro, which President Trump described as "political persecution" [3] - President Lula emphasized the need to innovate during crises and criticized the rationale behind the U.S. sanctions as non-existent [3]

Company Overview - Zhengqian Financial Holdings (正乾金融控股) reported a significant stock price increase of 31.58%, closing at HKD 0.25 per share, with a trading volume of 15.89 million shares and a turnover of HKD 3.914 million, reflecting a volatility of 50.0% [1] - Over the past month, Zhengqian Financial Holdings has experienced a cumulative increase of 160.27%, and a year-to-date increase of 153.33%, outperforming the Hang Seng Index by 24.48% [1] - The company achieved total revenue of HKD 584 million for the year ending December 31, 2024, representing a year-on-year decrease of 17.28%, and a net profit attributable to shareholders of -HKD 20.69 million, a decline of 209.83% [1] - The gross profit margin stood at 4.9%, with a debt-to-asset ratio of 78.73% [1] Industry Analysis - The food and beverage industry has an average price-to-earnings (P/E) ratio of 20.49 times, with a median of 9.23 times, while Zhengqian Financial Holdings has a P/E ratio of -8.35 times, ranking 72nd in the industry [2] - The company was established in 1995 and listed on the Hong Kong Stock Exchange in 2011, initially focusing on textile and garment businesses before transitioning to financing leasing in 2014 to capitalize on market potential [2] - Zhengqian Financial Holdings aims to become a leading professional financing leasing company in China, leveraging its international financing platform and expanding its network through subsidiaries [3] - The Chinese online retail market is projected to grow significantly, with expectations of reaching a compound annual growth rate in double digits, driven by an increase in product variety and improved delivery infrastructure [4] - The company plans to explore opportunities in the online retail sector, particularly related to its trading business, and enhance its e-commerce platform capabilities as a key development direction [4]

Group 1 - The U.S. has implemented tariffs on numerous trade partners, with the average tariff level reaching 18.6%, the highest since 1933 [2] - Countries such as the UK, EU, South Korea, and Japan have accepted varying tariff rates, with some agreeing to 10% to 20% tariffs to maintain competitiveness [3][4] - The tariffs are expected to increase costs for U.S. importers, which may lead to higher prices for consumers and businesses, potentially impacting economic efficiency and innovation [2][7] Group 2 - Countries like Brazil and India face some of the highest tariffs, with Brazil's products subject to a 40% tariff and India facing a potential 25% additional tariff [6] - Some countries are negotiating for exemptions from tariffs, with the EU seeking to exclude strategic products and Chile successfully obtaining an exemption for copper [5][6] - The tariffs are projected to significantly increase federal revenue, with expectations of $50 billion monthly from tariffs, although they are also raising costs for major companies [7]

Core Viewpoint - The Brazilian government, led by President Lula, firmly opposes the U.S. decision to impose tariffs on Brazilian exports, asserting that Brazil will not yield to U.S. pressure and will defend its sovereignty [1][3]. Group 1: Tariff Imposition - The U.S. has announced a 40% tariff on Brazilian exports effective from August 6, with most products facing an increased tariff rate of 50% [5]. - U.S. Trade Representative Greer stated that the new round of tariffs, including the 50% tariff on Brazil, is largely finalized and will not be adjusted during current negotiations [3]. Group 2: Brazilian Response - President Lula emphasized that Brazil is not a minor player and will not accept U.S. tariffs as a form of political coercion, indicating a commitment to equal dialogue [1][3]. - Brazil plans to negotiate with the U.S. regarding the tariffs and will implement reciprocal measures if negotiations fail [3].

Core Viewpoint - The article discusses the recent U.S. tariff policies and their implications for various countries, particularly Brazil and Switzerland, highlighting the geopolitical tensions and economic repercussions involved [1][2][3][5]. Group 1: U.S. Tariff Policies - The U.S. Trade Representative stated that the new tariffs imposed by President Trump on multiple countries are largely fixed and will not be adjusted during current negotiations, with specific rates including 35% on Canadian goods, 50% on Brazilian goods, 25% on Indian goods, and 39% on Swiss goods [1][2]. - The tariffs are set based on bilateral trade surpluses and deficits, indicating a strategic approach to trade relations [2]. Group 2: Brazil's Response - Brazil has expressed strong opposition to the U.S. tariffs, with protests erupting in major cities against what is perceived as U.S. interference in Brazilian sovereignty [2][3]. - Brazilian officials have stated that they will not comply with U.S. demands to reduce oil imports from Russia in exchange for lower tariffs, emphasizing their stance against unilateral economic sanctions [4]. Group 3: Switzerland's Reaction - The announcement of a 39% tariff on Swiss goods has caused significant backlash in Switzerland, with political leaders and business representatives criticizing the U.S. for its aggressive trade tactics [5][6][7]. - The high tariff is expected to severely impact the Swiss economy, particularly given that the U.S. accounts for 18.6% of Swiss exports, including key products like pharmaceuticals and machinery [7][8]. Group 4: Economic Impact - Economic forecasts suggest that if the tariffs are implemented, Switzerland's GDP could decline by up to 0.7%, significantly affecting average incomes [8]. - The Swiss economy, heavily reliant on international trade, faces substantial risks due to the U.S. tariffs, which could lead to increased costs for Swiss exporters and reduced competitiveness in the global market [6][8].