节点：下游（终端消费/应用）位置：下游情绪：中性参考度：2/10
特朗普政府将落地10%的美国进口关税，自2月24日起生效——此前其紧急关税措施遭最高法院否决。新关税豁免能源、关键矿产、化肥及符合美墨加协定（USMCA）资格的产品，此举旨在维持贸易谈判杠杆的同时，保护核心进口品供应。
根据1974年贸易法第122条，此次新关税明确豁免金属、能源及USMCA项下进口品。该条款允许因国际收支平衡考量征收最高15%的临时关税，有效期150天（除非国会批准延展）。豁免清单具体涵盖钢铁、铝、汽车及零部件、牛肉、橙子、番茄，以及美国本土无供应的自然资源——此类定向豁免可缓解能源与金属供应链扰动..
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