A CITIC Securities research report dated November 5 points out that three main threads of U.S. political maneuvering may run through the next two years, and attention should be paid to intra-party ideological struggles within both parties and changes in the Democratic congressional leadership. Regarding AI and data center regulation, radical nationwide legislation will be difficult to enact, but state elections have a more direct impact on data center construction, which may trigger geographic relocation of projects and issues over who bears electricity and grid costs. Regarding war powers, Congress finds it difficult to directly intervene in the president's decisions on foreign wars, but partisan maneuvering over domestic affairs may consume Trump's strategic energy, and his demand for a stable external environment may rise. In other areas, healthcare may be a potential point of legislative exchange; policies on energy, immigration, tariffs, and manufacturing reshoring may be difficult to change, and tariffs are expected to remain stable.