According to the CITIC Securities Research Report, on July 23, the US launched a new round of 301 tariffs to replace the temporary global tariffs due on July 24. After the current 301 tariff replaced the additional tariff imposed by section 122, the US general tariff rate on China increased from 10% to 12.5%. Currently, in the context of diversified development of China's exports, it is expected that a slight increase in the tariff rate will have limited impact on China's exports. Furthermore, the amount previously involved in IEEPA tariffs exceeded 160 billion US dollars, and the US is currently facing spending pressure due to IEEPA tariff rebates.

According to the CITIC Securities Research Report, on July 23, the US launched a new round of 301 tariffs to replace the temporary global tariffs due on July 24. After the current 301 tariff replaced the additional tariff imposed by section 122, the US general tariff rate on China increased from 10% to 12.5%. Currently, in the context of diversified development of China's exports, it is expected that a slight increase in the tariff rate will have limited impact on China's exports. Furthermore, the amount previously involved in IEEPA tariffs exceeded 160 billion US dollars, and the US is currently facing spending pressure due to IEEPA tariff rebates.