![\"コラム：米中貿易協議、対立激化回避でも見えない出口\"\/](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/06\/LSTSRPI47NP3HOR5EADWIM6QXA.jpg\")
<\/p>\n<\/p>\n
\u3000\u7c73\u56fd\u3068\u4e2d\u56fd\u306e\u8cbf\u6613\u5354\u8b70\u306f\u3069\u3046\u3084\u3089\u6c7a\u88c2\u306f\u3057\u306a\u304b\u3063\u305f\u304c\u3001\u306a\u304a\u967a\u3057\u3044\u9053\u306e\u308a\u3092\u6b69\u307f\u7d9a\u3051\u3066\u3044\u308b\u3002\u5199\u771f\u306f\u3001\u5354\u8b70\u304c\u884c\u308f\u308c\u305f\u30ed\u30f3\u30c9\u30f3\u306e\u30e9\u30f3\u30ab\u30b9\u30bf\u30fc\u30fb\u30cf\u30a6\u30b9\u306e\u7c73\u4e2d\u56fd\u65d7\u3002\uff16\u6708\uff11\uff10\u65e5\u3001\u30ed\u30f3\u30c9\u30f3\u3067\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/ Toby Melville\uff09<\/p>\n
\uff3b\u30ef\u30b7\u30f3\u30c8\u30f3\u3000\uff11\uff11\u65e5\u3000\u30ed\u30a4\u30bf\u30fc\u3000BREAKINGVIEWS\uff3d – \u7c73\u56fd\u3068\u4e2d\u56fd\u306e\u8cbf\u6613\u5354\u8b70\u306f\u3069\u3046\u3084\u3089\u6c7a\u88c2\u306f\u3057\u306a\u304b\u3063\u305f\u304c\u3001\u306a\u304a\u967a\u3057\u3044\u9053\u306e\u308a\u3092\u6b69\u307f\u7d9a\u3051\u3066\u3044\u308b\u3002\u4e21\u56fd\u304c\uff11\uff10\u65e5\u306b\u82f1\u30ed\u30f3\u30c9\u30f3\u3067\u5408\u610f\u3057\u305f\u5185\u5bb9\u306f\u3001\uff11\u30ab\u6708\u524d\u306b\u30b9\u30a4\u30b9\u306e\u30b8\u30e5\u30cd\u30fc\u30d6\u3067\u4ea4\u308f\u3057\u305f\u5831\u5fa9\u95a2\u7a0e\u306e\u9023\u9396\u306b\u95a2\u3059\u308b\u300c\u4f11\u6226\u300d\u306e\u7d04\u675f\u306e\u307b\u307c\u713c\u304d\u76f4\u3057\u306b\u904e\u304e\u306a\u3044\u3002\u3053\u306e\u9593\u3001\u53cc\u65b9\u306f\u76f8\u624b\u306e\u6025\u6240\u3092\u767a\u898b\u3057\u305f\u3002\u7c73\u56fd\u306b\u3068\u3063\u3066\u75db\u3044\u306e\u306f\u3001\u4e2d\u56fd\u304c\u30ec\u30a2\u30a2\u30fc\u30b9\uff08\u5e0c\u571f\u985e\uff09\u306e\u4f9b\u7d66\u3092\u5b8c\u5168\u306b\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3057\u3066\u3044\u308b\u3053\u3068\u3002\u9006\u306b\u4e2d\u56fd\u306f\u3001\u7c73\u56fd\u306e\u30cf\u30a4\u30c6\u30af\u88fd\u54c1\u8f38\u51fa\u898f\u5236\u3068\u4e2d\u56fd\u4eba\u7559\u5b66\u751f\u53d7\u3051\u5165\u308c\u554f\u984c\u304c\u91cd\u5927\u3060\u3002\u305d\u3057\u3066\u4e21\u56fd\u306f\u3001\u8a31\u5bb9\u3067\u304d\u306a\u3044\u307b\u3069\u5bfe\u7acb\u3092\u6fc0\u5316\u3055\u305b\u306a\u3044\u3088\u3046\u81ea\u5236\u3059\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u5371\u6a5f\u306e\u706b\u7a2e\u306f\u6d88\u3048\u3066\u3044\u306a\u3044\u3002\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u4e2d\u56fd\u88fd\u54c1\u306b\u8ab2\u3057\u3066\u3044\u308b\uff15\uff15\uff05\u306e\u95a2\u7a0e\u5f15\u304d\u4e0b\u3052\u306b\u81f3\u308b\u6700\u7d42\u7684\u306a\u5354\u8b70\u306e\u300c\u51fa\u53e3\u300d\u306f\u3001\u306f\u3063\u304d\u308a\u3057\u307e\u3044\u307e\u307e\u3060\u3002<\/p>\n
![\"Line](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/06\/1749696943_762_chart.png\")
Line chart showing tariff levels on US imports on goods from China<\/p>\n
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\u7c73\u56fd\u306b\u3082\u660e\u3089\u304b\u306a\u6b66\u5668\u304c\u3042\u308b\u3002\u6700\u5148\u7aef\u534a\u5c0e\u4f53\u5206\u91ce\u3067\u306f\u30d5\u30a1\u30fc\u30a6\u30a7\u30a4\uff08\u83ef\u70ba\u6280\u8853\uff09\u306a\u3069\u306e\u4e2d\u56fd\u4f01\u696d\u306e\u6280\u8853\u304c\u6025\u901f\u306b\u9032\u3093\u3067\u3044\u308b\u3068\u306f\u3044\u3048\u3001\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2(NVDA.O), opens new tab\u3092\u542b\u3081\u305f\u7c73\u4f01\u696d\u304c\u4eba\u5de5\u77e5\u80fd\uff08\uff21\uff29\uff09\u306b\u4e0d\u53ef\u6b20\u306a\u534a\u5c0e\u4f53\u751f\u7523\u3067\u5f15\u304d\u7d9a\u304d\u30ea\u30fc\u30c9\u3057\u3066\u3044\u308b\u3002\u305d\u3046\u3057\u305f\u512a\u4f4d\u306f\u3001\u6700\u8fd1\u7c73\u653f\u5e9c\u304c\u8f38\u51fa\u898f\u5236\u3092\u5f37\u5316\u3057\u3066\u3044\u308b\u534a\u5c0e\u4f53\u8a2d\u8a08\u30bd\u30d5\u30c8\u30a6\u30a8\u30a2\u306b\u3082\u53ca\u3076\u3002\u7c73\u56fd\u306e\u5927\u5b66\u304c\u4e2d\u56fd\u4eba\u7559\u5b66\u751f\u3092\u53d7\u3051\u5165\u308c\u308b\u304b\u3069\u3046\u304b\u3082\u30ab\u30fc\u30c9\u306e\uff11\u3064\u3067\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306f\u4eca\u56de\u306e\u7c73\u4ea4\u6e09\u56e3\u304c\u53d7\u3051\u5165\u308c\u518d\u958b\u306b\u5408\u610f\u3057\u305f\u3068\u660e\u304b\u3057\u305f\u3002<\/p>\n
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\u25cf\u80cc\u666f\u3068\u306a\u308b\u30cb\u30e5\u30fc\u30b9<\/p>\n
\uff0a\u4e2d\u56fd\u3068\u30c7\u30a3\u30fc\u30eb\u5b8c\u4e86\u3068\u30c8\u30e9\u30f3\u30d7\u6c0f\u3001\u30ec\u30a2\u30a2\u30fc\u30b9\u4f9b\u7d66\u3078\u3000\u300c\u95a2\u4fc2\u826f\u597d\u300d \u3082\u3063\u3068\u898b\u308b <\/p>\n
\uff08\u7b46\u8005\u306f\u300cReuters Breakingviews\u300d\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\uff09<\/p>\n
\u79c1\u305f\u3061\u306e\u884c\u52d5\u898f\u7bc4\uff1a\u30c8\u30e0\u30bd\u30f3\u30fb\u30ed\u30a4\u30bf\u30fc\u300c\u4fe1\u983c\u306e\u539f\u5247\u300d, opens new tab<\/p>\n
\u7b46\u8005\u306f\u300cReuters Breakingviews\u300d\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n
![](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/06\/https:\/\/author-service-images-prod-us-east-1.publishing.aws.arc.pub\/reuters\/1b352355-01a6-4f62-90cc-.jpeg\"\/)
<\/p>\n
Gabriel Rubin is a U.S. columnist for Reuters Breakingviews covering business and economics in Washington, DC. He joined Breakingviews in May 2024 after eight years at the Wall Street Journal, where he covered economics, politics, and financial regulation. He holds a bachelor’s degree in history and Spanish from Washington University in St. Louis.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u3000\u7c73\u56fd\u3068\u4e2d\u56fd\u306e\u8cbf\u6613\u5354\u8b70\u306f\u3069\u3046\u3084\u3089\u6c7a\u88c2\u306f\u3057\u306a\u304b\u3063\u305f\u304c\u3001\u306a\u304a\u967a\u3057\u3044\u9053\u306e\u308a\u3092\u6b69\u307f\u7d9a\u3051\u3066\u3044\u308b\u3002\u5199\u771f\u306f\u3001\u5354\u8b70\u304c\u884c\u308f\u308c\u305f\u30ed\u30f3\u30c9\u30f3\u306e\u30e9\u30f3\u30ab\u30b9\u30bf\u30fc\u30fb\u30cf\u30a6\u30b9\u306e\u7c73\u4e2d\u56fd\u65d7\u3002\uff16\u6708\uff11\uff10\u65e5\u3001\u30ed\u30f3\u30c9\u30f3\u3067\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/ Toby Melv<\/p>\n","protected":false},"author":2,"featured_media":2550847,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[674789],"tags":[762691,762764,14869,762699,762765,762712,762713,654464,762767,254079,790056,763429,763435,762879,762880,222298,762715,534347,766561,766116,762892,762700,4626,77593,589033,762717,762718,135664,767510,762723,762684,762685,763032,762697,762688,238274,496517,762729,762813,53321,170696,762803,762889,762890,104159,762690,762679,705736,784990,89874,30355,396003,70245,72702],"class_list":{"0":"post-2550846","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-amers","9":"tag-anlins","10":"tag-asia","11":"tag-asxpac","12":"tag-bact","13":"tag-bisv","14":"tag-bisv08","15":"tag-biz","16":"tag-bojj","17":"tag-brv","18":"tag-brvbv","19":"tag-brvf","20":"tag-brvj","21":"tag-chip","22":"tag-chip1","23":"tag-clm","24":"tag-cmpny","25":"tag-cn","26":"tag-destnojpzam","27":"tag-destnojpztm","28":"tag-easia","29":"tag-emrg","30":"tag-eu","31":"tag-fes","32":"tag-fin","33":"tag-fins","34":"tag-fins08","35":"tag-gen","36":"tag-graphc","37":"tag-intag","38":"tag-jfor","39":"tag-jln","40":"tag-mtgfx","41":"tag-namer","42":"tag-news1","43":"tag-pol","44":"tag-potus","45":"tag-publ","46":"tag-rep","47":"tag-semi","48":"tag-tech","49":"tag-tech08","50":"tag-teeq","51":"tag-teeq08","52":"tag-tmt","53":"tag-topcmb","54":"tag-topnws","55":"tag-trn","56":"tag-united-states-of-america","57":"tag-us","58":"tag-usa","59":"tag-wash","60":"tag-70245","61":"tag-72702"},"share_on_mastodon":{"url":"https:\/\/wakoka.com\/@news\/114668145824974015","error":""},"_links":{"self":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2550846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/comments?post=2550846"}],"version-history":[{"count":0,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2550846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media\/2550847"}],"wp:attachment":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media?parent=2550846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/categories?post=2550846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/tags?post=2550846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}