未知机构：玫瑰国海策略海外市场跟踪20250312美国CPI数据和欧盟关税反制点评-20250313

Summary of Key Points from Conference Call Industry Overview - The discussion primarily revolves around the impact of U.S. inflation data and tariffs on the global market, particularly focusing on the U.S. and EU trade relations [1][2]. Core Insights and Arguments - U.S. February CPI increased by 2.8%, which was below the expected 2.9% and the previous value of 3% [1] - The lower-than-expected inflation data may have limited positive effects on the market, as the impact of tariffs on energy prices and service demand has not yet fully materialized [1] - Tariffs are described as a double-edged sword for interest rates, which also possess reflexivity; thus, the Federal Reserve must carefully weigh the implications of the Trump administration's trade policies on the economy [1] - The next potential interest rate cut window is anticipated to be in June, as the observation period before the March FOMC is considered too short, and April CPI data will not be available before the May FOMC [1] Additional Important Content - Following the implementation of steel and aluminum tariffs by Trump, the EU has announced retaliatory tariffs amounting to $28 billion for the first batch and $19 billion for the second batch, with discussions among the 27 member states to finalize the product list [2] - The EU has also expressed openness to negotiation opportunities [3] - Global trade uncertainty is expected to persist due to the implications of Trump's tariffs on inflation and the economy, with clarity likely only after the release of April data [4]