International - Financial Times - Credit Squeeze

Also in today’s newsletter, China hits out at Vietnam trade deal, and how Goldman won the Fed’s stress test

RIP FAIT. We hardly knew ye

The least expensive policy by far is to give the country enough now to win the war

US president’s focus on punishing ‘trans-shipment’ of goods draws Beijing’s ire

President Lee Jae Myung says Seoul is ‘doing its utmost’ to secure an agreement

Plus car sales

Also in this newsletter: European parliament gears up for no-confidence vote in von der Leyen

Washington had limited exports of semiconductor design software in tit-for-tat over trade talks

Cash-strapped Islamabad tries to stave off trade tariffs and deepen ties with White House

People’s Bank of China asks for tips on fighting ‘Japanification’ amid low inflation

Policymakers at central bank fret that a surging currency increases the risk of inflation undershooting

Billionaire hedge fund manager Ray Dalio sounds the alarm

US trade officials are seeking narrower deals before Trump’s tariffs come back

President says Vietnamese exports to US will be subject to 20% levy

US remains most lucrative market for country’s automakers despite low sales expectations after Trump trade policy

US president casts doubt that trade deal with be reached with Tokyo before July 9 deadline

Also in today’s newsletter, Silicon Valley billionaires back new bank and Gen Z increase their alcohol consumption

Concessions to support European producers in the face of foreign competition follow calls to ease climate targets

The PEM convention would reduce exporters’ post-Brexit difficulties with supply chains

The democratic socialist candidate to be mayor of New York mistakenly believes that the economy is a zero-sum game