International - Financial Times - Credit Squeeze

Also in today’s newsletter, ex-Big Four bosses launch rival firm and Davos founder accused of manipulating research

Our case is about whether America is ruled by laws or political whims

Demand for US assets cannot keep up with supply without a weaker currency

Executives use earnings calls to lay out costs and supply chain impacts from Donald Trump’s tariffs

The theory is that hegemonies run in cycles, but Trump and a trade war may disrupt the pattern

Owners say American customers have cancelled or suspended orders

The renowned economist issues a timely warning that the threat to America’s currency comes from within, in the shape of a growing debt mountain

Prime minister and European Commission president expected to hold talks on sidelines of an energy summit in London

Industry warns that trade disruption will raise prices for hospitals

An America First foreign policy is impossible without it

Analysts say key AI component supplier overtook South Korean rival Samsung in Dram memory in first quarter

First-quarter data highlights economic weakness just as Seoul launches tariff talks with US

Treasury secretary denies reports Washington will make unilateral cuts to tariffs

President’s latest retreat follows intense lobbying by industry executives

Beijing steps up efforts to woo Brussels as 145% tariffs imposed by the US seal off its biggest market

Chancellor says a deal ‘can be done’ with Washington but insists Britain will not lower food or auto standards

Review part of package of measures aimed at guarding against Chinese products being diverted to Britain

CEO warns US aerospace group is ‘not going to continue to build aeroplanes for customers who are not going to take them’

Reputational damage to the Fed and US assets will not be easily reversed

US Treasury secretary calls for reform but stops short of saying country could pull out of the global institutions