International - Financial Times - Credit Squeeze

US president announces new levies on trading partners in letters posted to social media

Lesotho, which supplies Levi’s and Wrangler, declares ‘state of disaster’ as Trump threat triggers job cuts

Donald Trump’s tariff threats are just part of a much wider shift. Gillian Tett explains why commerce is being subordinated to statecraft — and how we can adapt

US tariffs on pharmaceuticals mean hard questions for the industry and its political future.

Fund managers and bankers cast doubt on bets US president will back down from most severe threats

The exorbitant burden of exporting dollars makes it hard for America to govern at home

Long-term frameworks are necessary to lock in the desired effects of the US administration’s most controversial policies

US president warns of imminent EU trade announcement and higher global rates for other nations

From politics, economics and history to art, food and, of course, fiction — FT writers and critics choose their favourite reads of the year so far

EU’s controversial levy adds to momentum on pricing emissions

Also in today’s newsletter, Trump threatens Canada with 35% tariff and Google to agree cloud discount with US government

Energy advisory body expects global consumption to increase by 700,000 barrels a day this year

Plus Treasury issuance gambits

Trafigura, Mercuria, Glencore and IXM set for bumper profits from metal shipped into America ahead of tariffs

After a three-month pause, US president threatens punitive levies on governments and commodities

While the behaviour of bonds suggests a downturn, American stocks are at record highs

The country has staged a powerful recovery in the 10 years since it faced near economic collapse

Unusual agreement follows growing concern in Washington over Chinese dominance of crucial weapons materials

Unpopular government uses US president’s intervention to brand conservative opponents as traitors

Sarah Breeden cites evidence that extreme weather events push up inflation in ways central banks find difficult to combat