The easing of the trade war will significantly alleviate global economic uncertainty. The reduction of tariff barriers directly benefits Sino-US bilateral trade, alleviating the pressure on China's export industry chain. The manufacturing PMI is expected to rebound, and the loosening of technological controls in the tech sector may accelerate industrial upgrades. The decline in prices of imported goods in the US will suppress inflationary pressures, releasing consumer purchasing power. The speed of global supply chain restructuring may slow down, and multinational enterprises' investment decisions are likely to stabilize, offering recovery opportunities for trade in intermediate products in emerging markets. However, long-term structural contradictions remain unresolved, and deep-seated differences such as technological competition and industrial subsidies may shift to other forms of contention, with the effectiveness of policy coordination still needing observation. Short-term market risk appetite is expected to increase significantly.
