International - Financial Times - Credit Squeeze

Brussels accepts exclusion of dairy and other ‘sensitive’ farm products with expectations of a pact by December

Financing round for Germany’s Scalable Capital values it at about €1.5bn

Treasuries under pressure following warnings on American debt load

Bloc votes to exclude trading superpower’s bidders from contracts worth more than €5mn for next 5 years

Who will best react to the economic and geopolitical challenges facing the US?

Karol Nawrocki’s election victory will also strengthen Euroscepticism in central Europe, officials fear

The US president’s arsenal of coercive economic weapons has a lot of lethal ordnance left

Despite his rhetoric about fire and fury, the president is nervous about the use of force

Also in today’s newsletter, Scott Bessent seeks to assuage debt concerns and Jony Ive on his vision for AI

Modelling shows localising manufacturing too quickly could reduce global trade by 18%

Beijing promises to take strong measures to defend its interests

Switzerland’s success shows that a nation can revalue its way to prosperity

Limiting trade, travel and freezing foreign reserves would show the EU is willing to act independently of the US

Central bank needs to mix playing defence with going on the offensive with a new policy framework and improved communication

Steep fall in energy storage prices proves a game-changer for businesses

There is an urgent need to rethink financial structures that are failing billions of people

Former policymaker at the Federal Reserve, IMF and World Bank also taught generations of students

Also, a week of decisions on European interest rates, British defence spending and Canadian growth legislation

Trump administration official seeks to assuage growing investor concern over the country’s public finances

Meeting between Jonathan Reynolds and Jamieson Greer follows vow by US president to double tariff to 50%