The report is mainly divided into three parts.

Part 1: Analysis of the Causes of Trump 2.0 Trade War. Mr. Zhao stated that Trump's trade war was a declaration of war on the world: 10% on 180 countries; 10-39% on 60 countries (economies). The "Liberation Day" reciprocal tariffs transformed the global trade war into a US-China standoff. He also conducted a detailed discussion of four possible scenarios for the trade war, analyzed short-term, medium-term, and long-term response strategies, and speculated on three possible final outcomes.

Part 2: Policy Options and Their Impact in Response to the Trump 2.0 Trade War. Mr. Zhao believes that even if the tariffs are paused quickly in the short term, the impact will still be felt, such as the contraction of global and US trade and the slowdown of the world economy. In the medium term, there are greater threats; proposed harsh measures, such as a new "Navigation Act," may impact China's ocean shipping and shipbuilding industries. In the long term, there is the destruction of the multilateral trade system and the US unilateralist attacks.

Part 3: The Chinese Economy: Short-Term Trends and Medium- to Long-Term Development. Mr. Zhao believes the situation is relatively severe, and the outlook depends on countermeasures. He also expressed some of his own views. Short-term trade faces stagnation, but he remains cautiously optimistic about the future. In 2024, China's economic data showed steady growth, which is beneficial to private investment and entrepreneur confidence. Future possible policy options are divided into traditional 2+2 policies and economic policy options to deal with unforeseen events. China's economic development is transitioning from deceleration to medium-low speed growth. Resolving the impact of the Trump shock may take time, and the deep-seated reasons were analyzed. Finally, Mr. Zhao stated that the Chinese economy has enormous long-term development potential with two major potential advantages and relatively deep conditions for realizing them.