International - Financial Times - Credit Squeeze

As the president launches a trade war, follow the latest data on how markets react and how the country’s economy is performing

Also in this newsletter: Italy cracks down on ticket scams at Rome’s landmarks

Conservative podcasters who were key to US president’s election win are divided by tariff fallout

Beijing’s domination of global trade has led to a schism between the world’s two largest economies — and left many others worried about their industries

Pressure mounts on both sides to sign deal at Brussels summit on May 19

Market chaos unleashed by tariffs has not dimmed America’s appeal, says superannuation fund CIO

High levies will apply to Asian nations that Americans rely on for household goods

Trump’s tariff plans threaten clothing industry vital to South Asian nation’s economy

If Republicans are serious, they should join with Democrats to pass a resolution to fix this crisis

Countries grapple with Washington’s attempt to change ‘non-tariff barriers’ from VAT to food rules and even currency valuations

Plus, Phillips 66 fights back against activist investor Elliott and how trading desks will save banks’ revenues

Economists factor in falling confidence and investment leading to job losses and a probable cut in borrowing costs

Investors shift focus from fiscal stimulus to prospect of recession as indices give up gains

Executive warns situation could become ‘quite ugly’ in a few weeks as carmakers park vehicles amid levy uncertainty

New plants will take years to build and executives are wary of committing while trade policy is unclear

President Donald Trump says the US will proceed with an additional 50% tariff on China

The tech giant’s path forward is complicated

US Treasury secretary’s growing role marks shift away from White House’s trade hardliners

Lower than expected purchases of three-year government debt add to investor angst

Treasuries also slide after weak auction for three-year US government debt