#美国加征关税

#1. 90-Day Window Focus

◦ Both parties will negotiate the continuation of the remaining 24% suspended tariffs, involving strategic areas such as semiconductors, rare earths, and high-end manufacturing.

◦ Establish a regular consultation mechanism, future negotiations may focus on non-tariff issues such as technical barriers and market access.

2. Long-term Risks

◦ Continuation of Technology Blockades: The U.S. has not relaxed export controls on photolithography machines, chips, etc., and may replace tariff restrictions with an 'Entity List'.

◦ Inertia of Industry Chain Relocation: The trend of 'nearshore outsourcing' in Mexico and Southeast Asia continues, and China needs to offset costs through inland manufacturing bases (such as Wuhan and Chongqing).