International - Financial Times - Credit Squeeze

Prime minister will meet Emmanuel Macron and Ursula von der Leyen on Friday to iron out details

Wholesale inflation falls, but economists warn businesses are yet to pass on the higher costs of trade levies

The legacy of Brexit should not get in the way of progress that cuts costs for business

World’s biggest retailer reports rise in first-quarter sales in face of Trump’s tariffs

The president’s modus operandi makes long-term planning futile

Tariff policies could cause ‘enormous’ damage, $73bn firm says in letter to investors

John Elkann says Trump has been more effective in outlining policy to boost car manufacturing

President says he has ‘a little problem’ with tech group’s CEO Tim Cook over effort to avoid tariffs on China

Also in today’s newsletter, oil prices drop and record ‘reverse Yankee’ deals

Net imports are funding the innovative edge that others envy the US so much — and perhaps benefit from too

Companies complain of uncertainty around trade deal and plan to reduce levies on metals and cars

Low- and middle-income countries are performing surprisingly well despite Trump’s tariff wars

Is US protectionism helping or hindering closer co-operation between other countries?

Comments from Ngozi Okonjo-Iweala highlight concern that pacts may undermine ‘most favoured nation’ equality concept

Chinese exports to south-east Asia surge as producers reroute shipments to avoid Donald Trump’s levies

Member states reject Brussels’ latest efforts to bridge gaps between the two sides

Ousted head of World Economic Forum battles impropriety allegations and second probe into his conduct in a year

Fund managers were positioning for a US economic downturn before America and China forged a trade pact

Hong Kong-based group pushes ahead with plan to shift US-bound production and warns US consumers face higher prices

Also in today’s newsletter, Tesla board reviews Musk’s pay and the S&P 500 wipes out this year’s losses