The White House announced that it would increase tariffs on Chinese goods from 125% to 245%. SHFE tin prices were under pressure and weakened during the day. [SMM Tin Futures Review]

The most-traded SHFE tin contract (SN2505) fluctuated downward under pressure today. It opened lower in the morning session and continued to decline, with the drop expanding in the afternoon. It finally closed at 255,150 yuan/mt, down 1.68% from the previous trading day. The intraday fluctuation range was 254,800-260,200 yuan/mt. Open interest decreased to 30,000 lots, and trading volume significantly contracted, indicating a rise in market risk aversion sentiment. The White House announced today that it will increase tariffs on Chinese goods from 125% to 245%, covering key areas such as machinery, electronics, and semiconductors. This policy directly impacts the export expectations of China's electronics industry chain. Market concerns are that tariff barriers will lead to order transfers or production cuts among downstream enterprises, further suppressing the elasticity of tin consumption. The phased production resumption plans for the Bisie tin mine in the DRC are gradually being implemented. Although the resumption of production in Myanmar's Wa State mining area remains unclear, there are signs of easing in the global tight supply of tin ore. US Fed officials signaled that there will be no interest rate cuts within the year, pushing the US dollar index to a high of 104.3, putting pressure on non-ferrous metals. Meanwhile, the escalation of Sino-US trade friction has triggered a sell-off in global risk assets. Although domestic policy has hinted at potential interest rate cuts, it is difficult to offset external shocks in the short term.