International - Financial Times - Credit Squeeze

Governor Christopher Waller warns that should Trump resume steep duties growth will ‘slow to a crawl’

The world’s reserve currency gets a sharp shock

President suggests need for ‘flexibility’ but insists smartphone exemption is temporary

With the US and China facing off in a tariff war, the time has come for the UK to pivot

US trading partners should hold off offering concessions given this illogical shambles

Nostalgia for canned ‘Italian’ fare of my childhood makes me wonder how many Americans will notice higher prices on gourmet imports

The White House has miscalculated the balance of power in its tariff war with China

Japanese group cites ‘challenging economic environment’ as Trump’s tariffs throw supply chains into uncertainty

Rush of shipments preceded escalation of trade war between world’s two biggest economies

And lessons from ‘73

Whatever happened to that 7% growth rate?

Also in today’s newsletter, Argentina agrees new currency regime and Peruvian author Mario Vargas Llosa dies at 89

Companies flag signs of goods being diverted from US to Europe via platforms such as Temu, Shein and Amazon

The situation is dire and only active policymaking is going to make a difference

Shorter settlement times may have helped avert serious liquidity problems

Public disagreement within the Trump administration has grown over the past two weeks

Supporters say the former central bank governor is the man for the moment as he campaigns to be Canada’s PM

The former BoE governor says ‘groupthink’ was an issue

Chinese leader seeks to strengthen ties with export-dependent economies facing high US levies