International - Financial Times - Credit Squeeze

Industry blindsided by 25% levy and confused whether it applies only to products imported in cans

Also in today’s newsletter, South Korea’s president removed and Microsoft marks its first half century of trading

Bets on surging import prices show concern that US economy is slowing sharply or even flirting with recession

US president defends levies even as market behemoths, including Apple, sink most in years

Garbage in, tariffs out

Tariffs are supposed to be dollar positive. What happened?

Also in this newsletter: Solving the Hungarian problem

As international structures that promoted free trade are unwound, there is a rising risk of a return to capital controls

Price of sending products to US from China has climbed 37% since start of March

With ingredients sourced on both sides of the border producers are unclear over the impact of US levies

Plus, market volatility snags a debt refinancing by Vista Equity Partners and start-up Plaid suffers a big valuation drop

The new field of ‘geoeconomics’ offers a guide for the perplexed

EU officials ready emergency measures to prevent onslaught of discounted products in ‘economic nightmare’

Slide in US dollar suggests investors’ ‘vote of no confidence’ in Trump

US president suggests he is open to horse-trading a day after imposing severe import levies on Chinese goods

Wall Street’s blue-chip companies including Apple tumble as investors rush for safety in government bonds

US president’s trade war draws criticism from some senators and big donors

iPhone maker one of Wall Street’s biggest casualties despite Tim Cook’s efforts to court US president

A stunning rollout of new taxes astonishes traders

A vibe shift, heralded by a sea of red