Firm counterattack! The tariff on the U.S. has been raised to 125% | Today's important news review

0411 ｜ Dolphin Research Key Focus:

🐬 Macroeconomics/Industry

1. The China-U.S. trade dispute continues to escalate. The U.S. government announced yesterday that the tariff rate on Chinese goods exported to the U.S. will increase to 125% as a "reciprocal tariff." Although Trump expressed a "strong desire to reach an agreement with China to end the escalating trade war," there has been no substantial progress. Today, the Chinese Ministry of Finance firmly retaliated, announcing an adjustment to the tariff rate specified in the "Announcement of the State Council Tariff Commission on Adjusting Tariff Measures on Imported Goods Originating from the United States," raising it from 84% to 125%.

2. Today, the semiconductor sector saw a comprehensive rally. In terms of news, the China Semiconductor Industry Association issued an urgent notice regarding the "origin" identification rules for semiconductor products. According to the relevant regulations of the General Administration of Customs, the origin of "integrated circuits" is determined based on the four-digit tariff number change principle, meaning the wafer fabrication site is recognized as the origin. Subsequently, the Public Procurement Branch of the China Federation of Logistics & Purchasing issued a proposal to respond to U.S. bullying tariffs and support the stable development of the domestic economy, leading to a comprehensive rise in semiconductor earnings.

🐬 Individual Stocks

1. $CATL(300750.SZ)

Contemporary Amperex Technology Co., Limited's listing application in Hong Kong has been approved by the Hong Kong Stock Exchange, expecting to raise at least $5 billion, likely becoming the largest IPO globally this year. If all goes well, it could be listed in Hong Kong as early as May.

2. $Tesla(TSLA.US)

Tesla's official website in China shows that the Model S/X models no longer offer a separate "order new car" option; the corresponding model pages only display a "view available stock" button, while the Model Y and Model 3 still show the "order now" option. It is noteworthy that the production at Tesla's Shanghai factory has declined for six consecutive months, with first-quarter deliveries down 22%. On one hand, competition in the Chinese market is intensifying, and on the other hand, the ongoing trade war is inevitably bringing more negative impacts to Tesla.

🐬 Leading Sectors

Shanghai and Shenzhen: Semiconductor manufacturers, hardware and equipment distributors, footwear;

Hong Kong Stocks: Biopharmaceutical Class B stocks, new energy batteries, lithium batteries;

U.S. Stocks: Gold, silver, managed healthcare.

🐬 Focus for Next Monday

1. U.S. New York Fed one-year inflation expectations.

Risk Disclosure and statement for this article: Dolphin Research Disclaimer and General Disclosure