智通财经APP获悉，澳门统计暨普查局资料显示，2026年1月澳门货物出口和进口总值分别为14.6亿元 (澳门元，下同)及131.6亿元，同比上升29.2%及24.6%。1月的对外商品贸易总额共146.2亿元，货物贸易 逆差为117.1亿元。 与2025年同月比较，1月再出口货值(13.0亿元)升幅为29.8%，当中手表、钻石及钻石首饰分别增加 68.5%和32.0%，美容化妆及护肤品则减少23.5%；澳门本地产品出口(1.6亿元)上升24.2%，其中铜及其 制品、医药及有机化学产品分别增加57.7%和13.2%，成衣则减少63.4%。货物进口总值同比上升 24.6%，当中手机、黄金制首饰分别增加1.8倍和48.9%。 按出口目的地统计，1月输往中国内地(7,613万元)、中国香港特区(11.5亿元)及美国(2,785万元)的货值同 比分别上升47.3%、36.3%和12.0%，而出口至欧盟(565万元)的货值则下跌78.7%。按货物分类，非纺织 品出口上升35.2%至13.6亿元，纺织品及成衣则下跌20.4%至1.0亿元。 按进口货物原产地统计，1月产自中国内地(47.5亿元)、中国香港特区(8.7亿元)及欧 ...

Core Viewpoint - The recent announcement by Trump to impose a 100% tariff on China and export controls on key software is seen as a significant escalation in the US-China trade conflict, which could have profound implications for bilateral trade and the global trade system [1] Group 1: Tariff Revenue and Rates - Since the onset of the trade war, US tariff revenue has surged, becoming the fourth largest source of federal revenue, following individual income tax, social security tax, and corporate income tax [6] - From January to June 2025, the average tariff rate in the US increased from 2.2% to 8.9%, with a notable rise in April due to expanded tariffs on a global scale [8][14] - By August 2025, US tariff revenue reached $144.4 billion, 2.8 times that of the previous year, accounting for 4.0% of federal revenue, an increase of 2.5 percentage points year-on-year [6] Group 2: Tariff Rates by Trade Partner - The actual average tariff rate imposed by the US on China reached 37.4% by June 2025, with significant increases observed for labor-intensive goods and products affected by Section 232 tariffs [24][29] - The average tariff rates for Japan and South Korea were 15.3% and 12.0%, respectively, while rates for the EU, Vietnam, and India ranged between 5% and 10% [24] - The US has seen a decline in its reliance on Chinese imports, with the share of imports from China dropping to 9.4% of total imports, a decrease of 3.4 percentage points year-on-year [28] Group 3: Trade Performance and Deficits - In the first seven months of 2025, US imports grew by 10.7% and exports by 4.8%, but the trade deficit expanded by 21.3% [19] - The US experienced a decline in trade volume with China and Canada, with imports from China down by 18.9% and exports down by 20.2% [19][20] - Despite high tariffs on China, the overall trade deficit with other countries has increased, indicating that the US still relies heavily on imports to meet domestic demand [20] Group 4: Future Tariff Trends - The actual tariff rates are expected to converge with nominal rates as various loopholes and exemptions are closed, leading to an increase in effective tariff rates across different economies [33][34] - Factors such as preemptive imports and exemptions for certain goods have contributed to the current lower effective tariff rates, but these are anticipated to diminish over time [33][35]