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Investor unease at the US’s fiscal position is growing

Libertarian leader wants $270bn in hidden dollar savings to help phase out peso

Eurozone banks hold €1.3tn in loans to sectors most exposed to severe water shortages, including farming

An asset-backed equipment finance programme would be just the boost US companies need

Stocks also slide after lacklustre $16bn auction for 20-year Treasuries

And it’s a lot better than the old policy consensus

Also in today’s newsletter, Trump’s ‘big, beautiful’ bill deepens investor worries, and Nestlé’s chief criticises his predecessor

A scary moment could require a new framework

The latest set of Chinese restrictions on rare earths exports are the most worrying to date

Expectation of bilateral agreements strengthens Korean won and Taiwan dollar against greenback

Bloc looks to extend tariff-free access for US crustaceans as part of agreement to stave off steep levies on exports

Can the slow-moving, 27-nation bloc survive the impulsive nature of the US president?

Billionaire says the bloc’s negotiations with Washington have got off to a ‘bad start’

Success rides on how leaders in the region decide to focus their spending

Higher than expected rise leads traders to price in just one rate cut in next 12 months

The president’s fiscal plans deepen concerns over America’s public finances

Also in today’s newsletter, IMF warning to US to tackle its debt burden and the discovery of a Mexican ‘death camp’

Brussels plan would allow member states to bar foreign bidders from government contracts

The country is hedging its bets astutely between the US and China and is needed by both

Also in this newsletter: EU lawmakers demand total freeze of funds for Hungary