As of 9:30 am on August 4, all varieties in the black futures market fell, with coking coal and coke falling by more than 3%, rebar and ferrosilicon falling by more than 1%, and hot-rolled coil, iron ore and ferromanganese falling.
US tariff policy triggers global trade tensions
According to CCTV News, the U.S. Trade Representative announced that the new round of tariffs is “basically set and will not be adjusted”, which has triggered an increase in global trade tensions.
The Trump administration’s tariff policy targets multiple countries, including Canada, India and Brazil, showing the U.S. intention to use tariffs as a geopolitical tool. The trade agreement between Europe and the United States has been criticized as an unequal treaty, India faces harsh tariff treatment, and the U.S. sanctions on Brazil are seen as politically motivated. Analysis points out that the U.S. tariff policy may backfire on itself, causing the American people to bear additional costs and triggering international concerns about a trade war.
The International Monetary Fund warned that the global economy faces major risks.
The US announced tariffs on 69 trading partners, sparking opposition and questions
The White House announced on the evening of July 31st that US President Trump had signed an executive order, pursuant to the International Emergency Economic Powers Act and other laws, announcing tariff rates applicable to goods imported from 69 trading partners.
This move has sparked opposition and skepticism both domestically and internationally. According to the announcement, goods from these trading partners will be subject to so-called “reciprocal tariffs” ranging from 10% to 41% upon entering the US market.
Forty countries or regions will be subject to a 15% rate, while 10 will be subject to rates of 19% or 20%. The new tariffs will take effect seven days after the executive order is issued.
Xi Jinping issued important instructions on studying and absorbing netizens’ opinions and suggestions on the compilation of the 15th Five-Year Plan.
Xi Jinping, General Secretary of the CPC Central Committee, President of the People’s Republic of China, and Chairman of the Central Military Commission, recently issued important instructions on studying and incorporating netizens’ opinions and suggestions on the formulation of the 15th Five-Year Plan.
He emphasized that the online consultation process for the 15th Five-Year Plan, which saw high participation and wide coverage, was a vivid practice of people’s democracy throughout the entire process.
The general public actively offered suggestions and input, raising many valuable opinions and suggestions, which the relevant departments should carefully consider and incorporate.
Party committees and governments at all levels must always adhere to a people-centered approach, extensively and thoroughly understand public sentiment, listen to their voices, and pool their wisdom, thereby forging a powerful synergy to advance China’s modernization and continuously realize the people’s aspirations for a better life.
