International - Financial Times - Credit Squeeze

Dire finances reflect pandemic and energy crisis largesse but also president’s early tax cuts

US has not yet accepted an invitation from China as progress stalls between the geopolitical rivals

President’s state visit comes after British ambassador to Washington was fired for ties to Jeffrey Epstein

Finance ministers discuss Washington’s proposal aimed at pushing Moscow to agree Ukraine peace deal

Also in today’s newsletter, authorities release video of Kirk’s killer, and contents of Armani’s will revealed

Purbaya Yudhi Sadewa’s appointment is one of the biggest gambles of President Prabowo Subianto’s first year in office

Plus what Tricolor means

Also in this newsletter: Von der Leyen faces the wrath of the car industry

Donald Trump’s tariffs on Brazil are poised to compound the fastest cost increase since the 1990s

Figure highlights challenges facing Federal Reserve

World’s biggest buyer of Chinese autos seeks to preserve US free trade deal

Central bank says domestic economy ‘showing resilience’ despite US tariffs

The tension between price stability and maximum employment will not ease quickly

Paris political class goes round in circles while public finances fall behind those of other countries

Also in today’s newsletter, UK ambassador to the US sacked and Skadden in talks with Heritage Foundation over pro bono services

China is too unreliable a source of demand to replace the US in the trading system

And the annual jobs revision

The Japanese government cannot spin its one-sided $550bn investment commitment to Trump’s America as a win

Figure comes despite Trump tariffs and keeps Fed on track for interest rate cut

US president makes extraordinary demand in bid to force Russia to end invasion of Ukraine