International - Financial Times - Credit Squeeze

EU signs accord with Washington; plus, upbeat US economy leads some to question economic models

Information overload may be contributing to the S&P 500’s resilience

British Retail Consortium warns that expected tax increases in autumn could lift prices further

Also in today’s newsletter, EU warns Europe’s roads unfit for war, UBS currency derivatives and Botswana’s push on De Beers

And it is right to do so (for now)

Washington has locked in tariffs on almost 45% of American imports

Local governments are steering investment into new factories, adding to overcapacity and eroding profit margins

Most exports from the bloc will face 15% tariffs while the European market will open to more American imports

Analysts dismiss plan but executives welcome sign of more support for fossil fuel exports

Euro slides as investors bet that long-awaited trade agreement will hurt Eurozone economy

Most exports from bloc to face 15% tariffs while European market will open to more American imports

EU and other trading partners are being bullied into opaque and unenforceable deals

The risks of decline go far beyond any single company

Rapid adoption of dollar-linked tokens would leave central bank struggling to control money supply and interest rates

US president also attacks London mayor Sadiq Khan and criticises offshore wind turbines

Also in today’s newsletter, US-China trade talks, and the Fed under pressure to cut interest rates

Agreement removes threat of full-blown trade war between Washington and Brussels

TACO, tech and tough consumers

Deal follows Scotland talks between Donald Trump and European Commission head Ursula von der Leyen