{"id":46040,"date":"2026-05-01T02:14:00","date_gmt":"2026-05-01T02:14:00","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e5%bd%93%e8%b4%b8%e6%98%93%e7%ba%be%e5%9b%b0%e9%81%87%e4%b8%8a%e8%83%bd%e6%ba%90%e5%86%b2%e5%87%bb\/"},"modified":"2026-05-01T02:14:00","modified_gmt":"2026-05-01T02:14:00","slug":"%e5%bd%93%e8%b4%b8%e6%98%93%e7%ba%be%e5%9b%b0%e9%81%87%e4%b8%8a%e8%83%bd%e6%ba%90%e5%86%b2%e5%87%bb","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/opinion\/%e5%bd%93%e8%b4%b8%e6%98%93%e7%ba%be%e5%9b%b0%e9%81%87%e4%b8%8a%e8%83%bd%e6%ba%90%e5%86%b2%e5%87%bb\/","title":{"rendered":"\u5f53\u8d38\u6613\u7ebe\u56f0\u9047\u4e0a\u80fd\u6e90\u51b2\u51fb"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarketsmy.com\/cn\/wp-content\/uploads\/sites\/4\/2026\/05\/1_OilTrade-1024x573.webp\" alt=\"\" class=\"wp-image-49135\"\/><figcaption class=\"wp-element-caption\"><strong>\u9000\u7a0e\u662f\u771f\u7684\uff0c\u6cb9\u4ef7\u4e5f\u662f\u771f\u7684\u3002<\/strong><\/figcaption><\/figure>\n\n\n\n<p>\u901a\u7528\u6c7d\u8f66\uff08General Motors\uff0cGM\uff09\u9884\u8ba1\u5c06\u83b7\u5f97<a href=\"https:\/\/finance.yahoo.com\/economy\/policy\/articles\/gm-expects-500-million-tariff-161633568.html\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">5\u4ebf\u7f8e\u5143\u5173\u7a0e\u9000\u7a0e<\/a>\u3002UPS\u5728\u4e3a\u5ba2\u6237\u4ee3\u7f34\u7ea6<a href=\"https:\/\/fortune.com\/2026\/04\/29\/fedex-ups-pledging-tariff-refunds-back-to-customers\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">50\u4ebf\u7f8e\u5143\u5173\u7a0e<\/a>\u540e\uff0c\u5df2\u5f00\u59cb\u5904\u7406\u9000\u6b3e\u3002\u5bf9\u7f8e\u56fd\u4f01\u4e1a\u800c\u8a00\uff0c\u4f9d\u9760\u201c\u7d27\u6025\u6743\u529b\u201d\u5927\u8303\u56f4\u52a0\u5f81\u5173\u7a0e\u7684\u65f6\u4ee3\uff0c\u5728\u6cd5\u5f8b\u5c42\u9762\u5df2\u7ed3\u675f\uff0c\u4f01\u4e1a\u8fc7\u53bb\u627f\u53d7\u7684\u8d22\u52a1\u51b2\u51fb\u6709\u671b\u90e8\u5206\u7f13\u89e3\u3002<\/p>\n\n\n\n<p>\u4f46\u53e6\u4e00\u6761\u66f4\u68d8\u624b\u7684\u4e3b\u7ebf\u6b63\u5728\u538b\u8fc7\u6765\u3002\u672c\u5468\u5e03\u4f26\u7279\u539f\u6cb9\uff08Brent crude\uff0cUKOUSD\uff0c\u4e3a\u5e03\u4f26\u7279\u539f\u6cb9\u4ef7\u683c\u7684\u4ea4\u6613\u4ee3\u7801\uff09\u7a81\u7834\u6bcf\u6876111\u7f8e\u5143\uff0c7\u5929\u4e0a\u6da813%\uff0c\u5373\u4f7f\u4f0a\u6717\u63d0\u8bae\u91cd\u5f00\u970d\u5c14\u6728\u5179\u6d77\u5ce1\uff08Strait of Hormuz\uff0c\u5168\u7403\u91cd\u8981\u77f3\u6cb9\u822a\u8fd0\u901a\u9053\uff09\uff0c\u6cb9\u4ef7\u4ecd\u7ee7\u7eed\u8d70\u9ad8\u3002\u8d38\u6613\u6210\u672c\u4e0b\u964d\u4e0e\u80fd\u6e90\u63a8\u5347\u7684\u901a\u80c0\u51b2\u51fb\uff08inflation shock\uff0c\u6307\u4ef7\u683c\u5728\u77ed\u65f6\u95f4\u5185\u660e\u663e\u4e0a\u5347\u7684\u51b2\u51fb\uff09\u6b63\u5728\u540c\u65f6\u671d\u76f8\u53cd\u65b9\u5411\u63a8\u52a8\uff0c\u5e02\u573a\u5fc5\u987b\u628a\u4e24\u8005\u4e00\u8d77\u8ba1\u4ef7\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u5173\u7a0e\u683c\u5c40\u5982\u4f55\u6539\u53d8<\/strong><\/h2>\n\n\n\n<p>2\u6708\uff0c\u7f8e\u56fd\u6700\u9ad8\u6cd5\u9662\u88c1\u5b9a\uff0c\u300a\u56fd\u9645\u7d27\u6025\u7ecf\u6d4e\u6743\u529b\u6cd5\u300b\uff08International Emergency Economic Powers Act\uff0cIEEPA\uff1a\u7f8e\u56fd\u6388\u6743\u603b\u7edf\u5728\u201c\u56fd\u5bb6\u7d27\u6025\u72b6\u6001\u201d\u4e0b\u91c7\u53d6\u7ecf\u6d4e\u63aa\u65bd\u7684\u6cd5\u5f8b\uff09\u5e76\u672a\u8d4b\u4e88\u603b\u7edf\u52a0\u5f81\u5173\u7a0e\u7684\u6743\u529b\u3002\u653f\u5e9c\u5728\u6570\u5c0f\u65f6\u5185\u4f5c\u51fa\u56de\u5e94\u2014\u2014\u6539\u7528\u300a1974\u5e74\u8d38\u6613\u6cd5\u300b\u7b2c122\u6761\uff08Section 122\uff1a\u5728\u7279\u5b9a\u8d38\u6613\u4e0e\u56fd\u9645\u6536\u652f\u6761\u4ef6\u4e0b\u53ef\u4e34\u65f6\u91c7\u53d6\u7684\u8d38\u6613\u63aa\u65bd\uff09\u5bf9\u6240\u6709\u8fdb\u53e3\u5546\u54c1\u52a0\u5f8115%\u7684\u7edf\u4e00\u5173\u7a0e\u3002<\/p>\n\n\n\n<p>\u6cd5\u5f8b\u6846\u67b6\u7684\u53d8\u5316\u4e0e\u7a0e\u7387\u540c\u6837\u5173\u952e\u3002<a href=\"https:\/\/www.piie.com\/blogs\/realtime-economics\/2026\/what-supreme-courts-tariff-ruling-changes-and-what-it-doesnt\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u7b2c122\u6761\u5173\u7a0e\u6709150\u5929\u65f6\u9650\uff0c\u82e5\u8981\u5ef6\u957f\u9700\u56fd\u4f1a\u6279\u51c6<\/a>\uff0c\u5e76\u4e14\u539f\u5219\u4e0a\u4e0d\u9488\u5bf9\u7279\u5b9a\u56fd\u5bb6\uff08non-discriminatory\uff1a\u4e0d\u533a\u5206\u56fd\u5bb6\u3001\u4e00\u4f53\u9002\u7528\uff09\u3002\u8fd9\u4f7f\u5176\u96be\u4ee5\u50cfIEEPA\u5173\u7a0e\u90a3\u6837\uff0c\u88ab\u7528\u4f5c\u4e0e\u5355\u4e00\u56fd\u5bb6\u8c08\u5224\u7684\u7b79\u7801\u3002<\/p>\n\n\n\n<p>\u653f\u5e9c\u4e5f\u5bf9\u591a\u4e2a\u4e3b\u8981\u7ecf\u6d4e\u4f53\u7684\u5236\u9020\u4e1a\u201c\u4ea7\u80fd\u8fc7\u5269\u201d\u542f\u52a8\u65b0\u7684\u300a\u8d38\u6613\u6cd5\u300b\u7b2c301\u6761\u8c03\u67e5\uff08Section 301 investigations\uff1a\u7f8e\u56fd\u5bf9\u4ed6\u56fd\u653f\u7b56\u662f\u5426\u635f\u5bb3\u7f8e\u56fd\u5546\u4e1a\u5229\u76ca\u7684\u8c03\u67e5\u5de5\u5177\uff0c\u7ed3\u679c\u53ef\u80fd\u5bfc\u81f4\u52a0\u5f81\u9488\u5bf9\u7279\u5b9a\u884c\u4e1a\u7684\u5173\u7a0e\uff09\uff0c\u6697\u793a\u4e0b\u4e00\u9636\u6bb5\u66f4\u53ef\u80fd\u662f\u201c\u884c\u4e1a\u578b\u5173\u7a0e\u201d\u3002<\/p>\n\n\n\n<p>\u5bf9\u8fdb\u53e3\u5546\u6765\u8bf4\uff0c\u76ee\u524d\u60c5\u51b5\u5982\u4e0b\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.vtmarketsmy.com\/cn\/wp-content\/uploads\/sites\/4\/2026\/05\/codeNDAyNWFjNTVjODQ1ZDM5YzU2NmQ0MWUwNDcwMmNiYjJfWmJ4OUlLNEhuZmUwdUFhWkV5RFc0ME5GREVMcEI4SmFfVG9rZW46RzRuQmJKVzk1b2VKSFl4Q3RFSWxIWlVzZ3VnXzE3Nzc1NDQzNzc6MTc3NzU0Nzk3N19WNA.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u9000\u7a0e\u91d1\u989d\u786e\u5b9e\u5b58\u5728\uff0c\u4f46\u8981\u770b\u6574\u4f53\u80cc\u666f\u3002GM\u76845\u4ebf\u7f8e\u5143\u9000\u7a0e\uff0c\u5bf9\u6bd4\u5176\u53bb\u5e74\u62ab\u9732\u768431\u4ebf\u7f8e\u5143\u5173\u7a0e\u6210\u672c\u4ecd\u5c5e\u90e8\u5206\u62b5\u6d88\u2014\u2014\u5373\u4f7f\u9000\u7a0e\u540e\uff0c<a href=\"https:\/\/fortune.com\/2026\/04\/28\/gm-500-million-trumps-tariff-refunds-3-1-billion-paid\/\">\u516c\u53f8\u4ecd\u9884\u8ba12026\u5e74\u5173\u7a0e\u652f\u51fa\u4e3a25\u4ebf\u81f335\u4ebf\u7f8e\u5143<\/a>\u3002\u6cd5\u5f8b\u6846\u67b6\u53d8\u4e86\uff0c\u4f46\u5229\u6da6\u4ecd\u5728\u627f\u538b\uff08earnings\uff1a\u516c\u53f8\u76c8\u5229\u8868\u73b0\uff0c\u901a\u5e38\u6307\u51c0\u5229\u6216\u6bcf\u80a1\u76c8\u5229\uff09\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u6cb9\u4ef7\u8d70\u5411\u76f8\u53cd<\/strong><\/h2>\n\n\n\n<p>\u56fd\u9645\u80fd\u6e90\u7f72\uff08IEA\uff09\u628a<a href=\"https:\/\/www.vtmarkets.com\/learn\/impact-of-the-2026-strait-of-hormuz-closure-on-forex-and-crypto-markets\/?utm_source=&amp;rt=Tariffs-Oil-Forces\" target=\"_blank\" rel=\"noopener\" title=\"\">\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u5173\u95ed<\/a>\u5f62\u5bb9\u4e3a\u5168\u7403\u77f3\u6cb9\u5e02\u573a\u53f2\u4e0a\u6700\u5927\u4e00\u6b21\u4f9b\u5e94\u4e2d\u65ad\uff08supply disruption\uff1a\u4f9b\u5e94\u94fe\u6216\u8fd0\u8f93\u53d7\u963b\u5bfc\u81f4\u4f9b\u7ed9\u51cf\u5c11\uff09\u3002\u51b2\u7a81\u57282\u6708\u4e0b\u65ec\u7206\u53d1\u524d\uff0c\u5e73\u5747\u6bcf\u5929\u6709129\u8258\u8239\u901a\u8fc7\u6d77\u5ce1\u3002\u4e0a\u5468\u65e5\uff0c<a href=\"https:\/\/www.aljazeera.com\/news\/2026\/4\/28\/oil-prices-rise-despite-irans-proposal-to-reopen-strait-of-hormuz\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u53ea\u67098\u8258<\/a>\u3002<\/p>\n\n\n\n<p>\u6c99\u7279\u4e0e\u963f\u8054\u914b\u5df2\u628a\u90e8\u5206\u4f9b\u5e94\u6539\u9053\u81f3\u9646\u4e0a\u7ba1\u9053\uff0c\u591a\u56fd\u534f\u8c03\u91ca\u653e\u6218\u7565\u50a8\u5907\uff08strategic reserves\uff1a\u56fd\u5bb6\u50a8\u5907\u7684\u539f\u6cb9\uff0c\u7528\u4e8e\u7d27\u6025\u7a33\u5b9a\u4f9b\u7ed9\uff09\u4e5f\u907f\u514d\u4e86\u6700\u6781\u7aef\u7684\u98d9\u4ef7\u60c5\u666f\u3002\u4f46\u5e03\u4f26\u7279\u539f\u6cb9\uff08UKOUSD\uff09\u7ad9\u4e0a110\u7f8e\u5143\uff0c\u4ecd\u4f1a\u663e\u8457\u63a8\u9ad8\u4f9d\u8d56\u8fdb\u53e3\u4e0e\u957f\u4f9b\u5e94\u94fe\u7ecf\u6d4e\u4f53\u7684\u901a\u80c0\u6210\u672c\u3002\u822a\u7a7a\u71c3\u6cb9\u3001\u8d27\u8fd0\u8d39\u7528\u4e0e\u77f3\u5316\u539f\u6599\uff08petrochemical inputs\uff1a\u5851\u6599\u3001\u5316\u5de5\u7b49\u4e0a\u6e38\u539f\u6599\uff09\u90fd\u4f1a\u968f\u4e4b\u4e0a\u6da8\u3002<\/p>\n\n\n\n<p>\u884c\u4e1a\u5f71\u54cd\u5df2\u5f00\u59cb\u663e\u73b0\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7269\u6d41\uff1a<\/strong><a href=\"https:\/\/www.vtmarkets.com\/opinion\/holidays-are-up-in-the-air-airline-stocks-in-holding-pattern\/?utm_source=&amp;rt=Tariffs-Oil-Forces\" target=\"_blank\" rel=\"noopener\" title=\"\"> <\/a><a href=\"https:\/\/www.vtmarkets.com\/opinion\/holidays-are-up-in-the-air-airline-stocks-in-holding-pattern\/?utm_source=&amp;rt=Tariffs-Oil-Forces\">\u8fd0\u8d39\u660e\u663e\u4e0a\u5347<\/a>\uff1b\u822a\u7a7a\u8d27\u8fd0\u53d7\u5f71\u54cd\u6700\u5927<\/li>\n\n\n\n<li><strong>\u6c7d\u8f66\uff1a<\/strong>\u539f\u6599\u4e0e\u96f6\u90e8\u4ef6\u6210\u672c\u4e0a\u5347\uff0c\u524a\u5f31\u5173\u7a0e\u9000\u7a0e\u5e26\u6765\u7684\u5e2e\u52a9\uff1b\u5e76\u52a0\u91cd\u4e0e<a href=\"https:\/\/www.vtmarkets.com\/opinion\/chinas-ev-industry-a-growing-global-force\/?utm_source=&amp;rt=Tariffs-Oil-Forces\" target=\"_blank\" rel=\"noopener\" title=\"\">\u6d77\u5916\u5bf9\u624b<\/a>\u7ade\u4e89\u7684\u538b\u529b<\/li>\n\n\n\n<li><strong>\u96f6\u552e\uff1a<\/strong>\u80fd\u6e90\u6210\u672c\u4e0a\u5347\u52a0\u4e0a\u4ecd\u5b58\u5728\u7684\u5173\u7a0e\u5f71\u54cd\uff08residual tariff exposure\uff1a\u4ecd\u9700\u627f\u62c5\u7684\u90e8\u5206\u5173\u7a0e\u6210\u672c\uff09\uff0c\u6324\u538b\u5229\u6da6\u7a7a\u95f4<\/li>\n\n\n\n<li><strong>\u80fd\u6e90\u751f\u4ea7\u5546\uff1a<\/strong>\u7f8e\u56fd\u56fd\u5185\u4ea7\u91cf\u589e\u957f<a href=\"https:\/\/www.vtmarkets.com\/analysis\/natural-gas-pressured-by-warmth\/?utm_source=&amp;rt=Tariffs-Oil-Forces\" target=\"_blank\" rel=\"noopener\" title=\"\">\u4ecd\u504f\u6162<\/a>\uff0c\u5373\u4f7f\u6cb9\u4ef7\u5904\u4e8e\u9ad8\u4f4d<\/li>\n<\/ul>\n\n\n\n<p><strong>\u5728<a href=\"https:\/\/www.vtmarkets.com\/discover\/commodity-trading-guide-2026-how-to-trade-commodity-markets-futures\/?utm_source=&amp;rt=Tariffs-Oil-Forces\" target=\"_blank\" rel=\"noopener\" title=\"\">\u8fd9\u91cc<\/a>\u4e86\u89e3\u5982\u4f55\u4ea4\u6613\u5927\u5b97\u5546\u54c1\u5e02\u573a\u4e0e\u671f\u8d27\uff08futures\uff1a\u671f\u8d27\u5408\u7ea6\uff0c\u7ea6\u5b9a\u672a\u6765\u4ee5\u56fa\u5b9a\u4ef7\u683c\u4e70\u5356\u67d0\u5546\u54c1\u7684\u5408\u7ea6\uff09\u3002<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e24\u80a1\u529b\u91cf\uff0c\u843d\u5728\u540c\u4e00\u6761\u76c8\u5229\u7ebf\u4e0a<\/strong><\/h2>\n\n\n\n<p>\u4e24\u80a1\u529b\u91cf\u540c\u65f6\u53d1\u751f\uff0c\u89e3\u8bfb\u5e76\u4e0d\u5bb9\u6613\u3002\u5bf9\u5dee\u4ef7\u5408\u7ea6\uff08CFD\uff0cContract for Difference\uff1a\u5dee\u4ef7\u5408\u7ea6\uff0c\u4e0d\u5b9e\u9645\u4ea4\u5272\u8d44\u4ea7\uff0c\u53ea\u7ed3\u7b97\u4ef7\u683c\u6da8\u8dcc\u5dee\u989d\u7684\u4ea4\u6613\u5de5\u5177\uff09\u4ea4\u6613\u8005\u800c\u8a00\uff0c\u8fd9\u6837\u7684\u73af\u5883\u4e0d\u662f\u5fc5\u987b\u9000\u573a\u7684\u7406\u7531\uff0c\u53cd\u800c\u66f4\u5bb9\u6613\u51fa\u73b0\u77ed\u7ebf\u673a\u4f1a\u3002<\/p>\n\n\n\n<p>\u5173\u7a0e\u7f13\u89e3\u7684\u903b\u8f91\u6307\u5411\u9700\u6c42\u4fee\u590d\uff1a\u8d38\u6613\u963b\u788d\u964d\u4f4e\u4f1a\u51cf\u5c11\u4f01\u4e1a\u8fdb\u8d27\u6210\u672c\uff0c\u8ba9\u4f9b\u5e94\u94fe\uff08supply chain\uff1a\u4ece\u539f\u6599\u5230\u751f\u4ea7\u3001\u8fd0\u8f93\u3001\u9500\u552e\u7684\u6574\u6761\u6d41\u7a0b\uff09\u66f4\u987a\uff0c\u5229\u6da6\u7387\uff08margins\uff1a\u9500\u552e\u4ef7\u683c\u6263\u9664\u6210\u672c\u540e\u7684\u7a7a\u95f4\uff09\u66f4\u53ef\u80fd\u6539\u5584\u3002\u6cb9\u4ef7\u51b2\u51fb\u5219\u6307\u5411\u901a\u80c0\u66f4\u96be\u964d\uff1a\u80fd\u6e90\u4ef7\u683c\u4e0a\u6da8\u63a8\u9ad8\u8fd0\u8f93\u6210\u672c\uff0c\u6324\u538b\u6d88\u8d39\u8005\u652f\u51fa\uff0c\u5e76\u8ba9\u592e\u884c\u5728\u964d\u606f\uff08rate cuts\uff1a\u4e0b\u8c03\u5229\u7387\uff09\u4e0a\u66f4\u4e3a\u63a3\u8098\u3002<\/p>\n\n\n\n<p>\u5bf9\u6c7d\u8f66\u4e0e\u7269\u6d41\u7b49\u884c\u4e1a\u6765\u8bf4\uff0c\u4e24\u80a1\u529b\u91cf\u6b63\u540c\u65f6\u843d\u5728\u540c\u4e00\u6761\u76c8\u5229\u7ebf\u4e0a\u3002\u8fd9\u4e0d\u4e00\u5b9a\u662f\u51c0\u5229\u597d\uff08net positive\uff1a\u6574\u4f53\u66f4\u6709\u5229\uff09\uff0c\u66f4\u50cf\u662f\u4e24\u9762\u5939\u51fb\u5bfc\u81f4\u5229\u6da6\u88ab\u538b\u7f29\u3002<\/p>\n\n\n\n<p>\u7ecf\u6d4e\u5b66\u5bb6\u628a\u5f53\u524d\u60c5\u51b5\u4e0e<a href=\"https:\/\/www.nytimes.com\/2026\/03\/13\/world\/middleeast\/oil-supply-shock-1973-embargo.html\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">1970\u5e74\u4ee3\u80fd\u6e90\u5371\u673a<\/a>\u76f8\u63d0\u5e76\u8bba\uff0c\u5e76\u63d0\u793a\u82e5\u6cb9\u4ef7\u5728\u4e0b\u534a\u5e74\u4ecd\u9ad8\u4f01\uff0c\u53ef\u80fd\u51fa\u73b0\u201c\u6ede\u80c0\u201d\uff08stagflation\uff1a\u7ecf\u6d4e\u589e\u957f\u4e4f\u529b\u4f46\u7269\u4ef7\u4ecd\u4e0a\u6da8\uff09\u3002\u8fd9\u4e00\u8bf4\u6cd5\u662f\u5426\u6210\u7acb\uff0c\u53d6\u51b3\u4e8e\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u822a\u8fd0\u6062\u590d\u901f\u5ea6\uff0c\u4ee5\u53ca\u592e\u884c\u5982\u4f55\u5224\u65ad\u6b64\u6b21\u901a\u80c0\u4e0a\u51b2\u662f\u77ed\u671f\uff08transitory\uff1a\u77ed\u6682\uff09\u8fd8\u662f\u957f\u671f\u7ed3\u6784\u6027\uff08structural\uff1a\u7531\u7ecf\u6d4e\u7ed3\u6784\u5bfc\u81f4\u3001\u8f83\u96be\u5feb\u901f\u6d88\u9000\uff09\u3002\u76ee\u524d\u4ecd\u6ca1\u6709\u660e\u786e\u7b54\u6848\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4ecd\u5f85\u89e3\u51b3\u7684\u5173\u952e<\/strong><\/h2>\n\n\n\n<p>\u672a\u6765\u4e00\u4e2a\u5b63\u5ea6\uff0c\u4e09\u9879\u53d8\u91cf\u5c06\u4e3b\u5bfc\u8d70\u52bf\u3002<\/p>\n\n\n\n<p>\u7b2c\u4e00\uff0c\u7b2c122\u6761\u5173\u7a0e\u662f\u5426\u4f1a\u5728\u6cd5\u5f8b\u6311\u6218\u4e2d\u7ad9\u5f97\u4f4f\u3002\u591a\u4e2a\u5dde\u5df2\u63d0\u8d77\u8bc9\u8bbc\uff0c\u8ba4\u4e3a\u5f81\u7a0e\u6240\u9700\u7684\u201c\u56fd\u9645\u6536\u652f\u201d\uff08balance-of-payments\uff1a\u4e00\u4e2a\u56fd\u5bb6\u5bf9\u5916\u6536\u4ed8\u7684\u603b\u8d26\uff0c\u5305\u62ec\u8d38\u6613\u4e0e\u8d44\u672c\u6d41\u52a8\uff09\u6761\u4ef6\u5e76\u4e0d\u5b58\u5728\u3002\u82e5\u6311\u6218\u6210\u529f\uff0c\u8d38\u6613\u653f\u7b56\u5728\u5e74\u4e2d\u524d\u5c06\u518d\u5ea6\u5145\u6ee1\u4e0d\u786e\u5b9a\u3002<\/p>\n\n\n\n<p>\u7b2c\u4e8c\uff0c\u970d\u5c14\u6728\u5179\u822a\u8fd0\u6062\u590d\u901f\u5ea6\u3002\u5373\u4f7f\u505c\u706b\u7ef4\u6301\uff0c\u901a\u8fc7\u6d77\u5ce1\u7684\u8239\u53ea\u4ecd\u8fdc\u4f4e\u4e8e\u51b2\u7a81\u524d\u6c34\u5e73\u3002\u4e13\u5bb6\u9884\u8ba1\u9700\u8981\u6570\u6708\u800c\u975e\u6570\u5468\uff0c\u6cb9\u4ef7\u624d\u53ef\u80fd\u56de\u5f52\u6b63\u5e38\u3002\u4f9b\u5e94\u4e2d\u65ad\u5e26\u6765\u7684\u901a\u80c0\u538b\u529b\u4e5f\u5df2\u8fdb\u5165\u6210\u672c\u4f53\u7cfb\u3002<\/p>\n\n\n\n<p>\u7b2c\u4e09\uff0c\u7b2c301\u6761\u8c03\u67e5\u4f1a\u5e26\u6765\u4ec0\u4e48\u7ed3\u679c\u3002\u82e5\u4e0b\u534a\u5e74\u5bf9\u94a2\u94c1\u3001\u534a\u5bfc\u4f53\u4e0e\u5173\u952e\u77ff\u4ea7\uff08critical minerals\uff1a\u5bf9\u65b0\u80fd\u6e90\u4e0e\u9ad8\u79d1\u6280\u5236\u9020\u5f88\u91cd\u8981\u7684\u77ff\u7269\uff0c\u5982\u9502\u3001\u954d\u3001\u7a00\u571f\u7b49\uff09\u63a8\u51fa\u884c\u4e1a\u5173\u7a0e\uff0c\u539f\u4ee5\u4e3a\u8d38\u6613\u6469\u64e6\u5df2\u8fc7\u53bb\u7684\u4f01\u4e1a\uff0c\u5c06\u4e0d\u5f97\u4e0d\u91cd\u65b0\u8bc4\u4f30\u3002<\/p>\n\n\n\n<p>\u5173\u7a0e\u7f13\u89e3\u4e0d\u662f\u5c0f\u4e8b\uff0c\u4f46\u5e02\u573a\u540c\u65f6\u8fd8\u5728\u6d88\u5316\u53e6\u4e00\u4e2a\u66f4\u5927\u7684\u95ee\u9898\u2014\u2014\u6cb9\u4ef7\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>\u5728\u4e24\u80a1\u76f8\u53cd\u529b\u91cf\u62c9\u626f\u4e0b\uff0c\u5e02\u573a\u5f80\u5f80\u4e0d\u4f1a\u5355\u8fb9\u987a\u7545\u8d70\u8d8b\u52bf\uff0c\u800c\u662f\u66f4\u5bb9\u6613\u6765\u56de\u6ce2\u52a8\uff0c\u5e76\u5f62\u6210\u503c\u5f97\u5173\u6ce8\u7684\u4ea4\u6613\u73af\u5883\u3002\u76ee\u524d\u5df2\u6709\u591a\u79cd\u5de5\u5177\u53ef\u76f4\u63a5\u53cd\u6620\u8fd9\u79cd\u62c9\u626f\u3002<\/p>\n\n\n\n<!-- TradingView Widget BEGIN --><div class=\"tradingview-widget-container\">  <div class=\"tradingview-widget-container__widget\"><\/div>  <div class=\"tradingview-widget-copyright\"><a href=\"www.vtmarkets.com\/trade-now\/?utm_source=Opinion&#038;rt=Tariffs-Oil-Forces\" rel=\"noopener nofollow\" target=\"_blank\"><span class=\"blue-text\">World markets<\/span><\/a><span class=\"trademark\"> Available on VT, by TradingView<\/span><\/div>  <script type=\"text\/javascript\" src=\"https:\/\/s3.tradingview.com\/external-embedding\/embed-widget-market-overview.js\" async>  {  \"colorTheme\": \"dark\",  \"dateRange\": \"3M\",  \"locale\": \"en\",  \"largeChartUrl\": \"\",  \"isTransparent\": false,  \"showFloatingTooltip\": false,  \"plotLineColorGrowing\": \"rgba(41, 98, 255, 1)\",  \"plotLineColorFalling\": \"rgba(41, 98, 255, 1)\",  \"gridLineColor\": \"rgba(240, 243, 250, 0)\",  \"scaleFontColor\": \"#DBDBDB\",  \"belowLineFillColorGrowing\": \"rgba(41, 98, 255, 0.12)\",  \"belowLineFillColorFalling\": \"rgba(41, 98, 255, 0.12)\",  \"belowLineFillColorGrowingBottom\": \"rgba(41, 98, 255, 0)\",  \"belowLineFillColorFallingBottom\": \"rgba(41, 98, 255, 0)\",  \"symbolActiveColor\": \"rgba(41, 98, 255, 0.12)\",  \"tabs\": [    {      \"title\": \"Oil\",      \"symbols\": [        {          \"s\": \"VANTAGE:UKOUSD\",          \"d\": \"Brent Crude\",          \"logoid\": \"crude-oil\",          \"currency-logoid\": \"country\/US\"        },        {          \"s\": \"VANTAGE:USOUSD\",          \"d\": \"WTI Oil\",          \"logoid\": \"crude-oil\",          \"currency-logoid\": \"country\/US\"        }      ],      \"originalTitle\": \"Indices\"    },    {      \"title\": \"Equity\",      \"symbols\": [        {          \"s\": \"NYSE:GM\",          \"d\": \"General Motors\",          \"logoid\": \"general-motors\",          \"currency-logoid\": \"country\/US\"        },        {          \"s\": \"NYSE:UPS\",          \"d\": \"United Parcel Service Inc\",          \"logoid\": \"united-parcel\",          \"currency-logoid\": \"country\/US\"        },        {          \"s\": \"NYSE:FDX\",          \"d\": \"FedEx Corp\",          \"logoid\": \"fedex\",          \"currency-logoid\": \"country\/US\"        }      ],      \"originalTitle\": \"Futures\"    },    {      \"title\": \"Indices\",      \"symbols\": [        {          \"s\": \"VANTAGE:SP500\",          \"d\": \"S&P Index Cash CFD (USD)\",          \"logoid\": \"indices\/s-and-p-500\",          \"currency-logoid\": \"country\/US\"        },        {          \"s\": \"VANTAGE:SP500FT\",          \"d\": \"SP500 Future\",          \"logoid\": \"indices\/s-and-p-500\",          \"currency-logoid\": \"country\/US\"        },        {          \"s\": \"VANTAGE:USDX\",          \"d\": \"US Dollar Index CFD (USD)\",          \"logoid\": \"indices\/u-s-dollar-index\",          \"currency-logoid\": \"country\/US\"        },        {          \"s\": \"VANTAGE:VIX\",          \"d\": \"Volatility Index\",          \"logoid\": \"indices\/volatility-s-and-p-500\",          \"currency-logoid\": \"country\/US\"        }      ],      \"originalTitle\": \"Bonds\"    }  ],  \"support_host\": \"https:\/\/www.tradingview.com\",  \"backgroundColor\": \"#0f0f0f\",  \"width\": 400,  \"height\": 200,  \"showSymbolLogo\": true,  \"showChart\": false}  <\/script><\/div><!-- TradingView Widget END --><br>\n\n\n\n<p><\/p>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary>TLDR<\/summary>\n<p><strong>\u4e3a\u4ec0\u4e48\u5173\u7a0e\u9000\u7a0e\u65e0\u6cd5\u5b8c\u5168\u6539\u5584\u4f01\u4e1a\u76c8\u5229\uff1f<\/strong> <br>\u5173\u7a0e\u9000\u7a0e\uff08tariff refunds\uff1a\u6b64\u524d\u591a\u7f34\u6216\u88ab\u5224\u65e0\u6548\u7684\u5173\u7a0e\u8fd4\u8fd8\uff09\u786e\u5b9e\u80fd\u51cf\u8f7b\u538b\u529b\uff0c\u4f8b\u5982GM\u76845\u4ebf\u7f8e\u5143\uff0c\u4f46\u53ea\u62b5\u6389\u8fc7\u53bb\u6210\u672c\u7684\u4e00\u90e8\u5206\u3002\u4f01\u4e1a\u4ecd\u9762\u5bf9\u6301\u7eed\u7684\u5173\u7a0e\u652f\u51fa\uff0c\u56e0\u6b64\u6574\u4f53\u8d22\u52a1\u538b\u529b\u4ecd\u660e\u663e\u3002<\/p>\n\n\n\n<p><strong>\u6cb9\u4ef7\u4e0a\u6da8\u5982\u4f55\u5f71\u54cd\u4e0d\u540c\u884c\u4e1a\uff1f<\/strong> <br>\u6cb9\u4ef7\u8d70\u9ad8\u4f1a\u6cbf\u4f9b\u5e94\u94fe\u63a8\u5347\u6210\u672c\u3002\u7269\u6d41\u516c\u53f8\u8fd0\u8d39\u4e0a\u5347\uff0c\u8f66\u4f01\u539f\u6599\u4e0e\u96f6\u90e8\u4ef6\u66f4\u8d35\uff0c\u96f6\u552e\u5546\u5219\u56e0\u8fdb\u53e3\u4e0e\u8fd0\u8f93\u66f4\u8d35\u800c\u5229\u6da6\u88ab\u6324\u538b\u3002<\/p>\n\n\n\n<p><strong>\u7b2c122\u6761\u5173\u7a0e\u6846\u67b6\u7684\u91cd\u8981\u6027\u662f\u4ec0\u4e48\uff1f<\/strong> <br>\u7b2c122\u6761\u5173\u7a0e\u662f\u4e34\u65f6\u63aa\u65bd\uff0c\u6709\u65f6\u9650\uff0c\u5ef6\u957f\u9700\u56fd\u4f1a\u6279\u51c6\u3002\u4e0e\u5148\u524d\u505a\u6cd5\u4e0d\u540c\uff0c\u5b83\u8986\u76d6\u9762\u66f4\u5e7f\u3001\u5bf9\u5404\u56fd\u4e00\u4f53\u9002\u7528\uff0c\u56e0\u6b64\u66f4\u96be\u88ab\u5f53\u6210\u8c08\u5224\u5de5\u5177\u3002<\/p>\n\n\n\n<p><strong>\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u53d7\u963b\u4e3a\u4f55\u91cd\u8981\uff1f<\/strong> <br>\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u662f\u5168\u7403\u5173\u952e\u77f3\u6cb9\u8fd0\u8f93\u901a\u9053\u3002\u822a\u8fd0\u51cf\u5c11\u4f1a\u9020\u6210\u4f9b\u7ed9\u7d27\u5f20\uff0c\u63a8\u9ad8\u6cb9\u4ef7\uff0c\u5e76\u5728\u5168\u7403\u8303\u56f4\u589e\u52a0\u901a\u80c0\u538b\u529b\u3002<\/p>\n\n\n\n<p><strong>\u63a5\u4e0b\u6765\u5e02\u573a\u91cd\u70b9\u5173\u6ce8\u4ec0\u4e48\uff1f<\/strong> <br>\u5e02\u573a\u4e3b\u8981\u770b\u4e09\u70b9\uff1a\u7b2c122\u6761\u5173\u7a0e\u80fd\u5426\u901a\u8fc7\u6cd5\u5f8b\u6311\u6218\u3001\u970d\u5c14\u6728\u5179\u822a\u8fd0\u6062\u590d\u901f\u5ea6\u3001\u4ee5\u53ca\u7b2c301\u6761\u8c03\u67e5\u6700\u7ec8\u662f\u5426\u5bfc\u81f4\u65b0\u7684\u884c\u4e1a\u5173\u7a0e\u3002<\/p>\n<\/details>\n\n<p>\r\n\r\n<p><strong>\u7acb\u5373\u5f00\u59cb\u4ea4\u6613 &#8211; \u70b9\u51fb<a href=\"https:\/\/www.vtmarketsmy.com\/cn\/trade-now\/\">\u8fd9\u91cc<\/a>\u521b\u5efa\u60a8\u7684 VT Markets \u771f\u5b9e\u8d26\u6237 <\/strong> <\/p>\r\n<!-- \/wp:post-content 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