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President expected to veto measure in which six Republicans joined Democrats to rebuke trade war on ally

Also in today’s newsletter: China charges former AstraZeneca executive, and India slashes takedown time on unlawful online content

UK chancellor says Britain prepared to align with Brussels’ rules to try to boost trade with the bloc

Congressional Budget Office warns Washington’s public finances are ‘not sustainable’

They should be a scalpel, not a sledgehammer

Improving competitiveness and strengthening the single market are key

Also in today’s newsletter: Activist hedge fund Elliott Management builds LSE stake and House votes down Trump measure

But only a little

Also in this newsletter: Why the EU’s carbon trading system is not obsolete after all

Lawmakers reject proposal by Republican leadership that would have blocked votes to challenge president’s trade policy

Protectionism cannot be a recipe for European success, says Ulf Kristersson

The continent needs a unified corporate framework open to companies of all sizes and sectors

Dizi television dramas popular across the world are a parable of country’s broader economic woes

Move by US president escalates tensions already heightened by Ottawa’s auto deal with China

For the rally to endure, developing markets need to build on their resilience

Upbeat assessment ahead of elections contrasts with traditional Wall Street preference for minimal intervention

Also in today’s newsletter, some US lawmakers are calling on Howard Lutnick to step down over his ties to Jeffrey Epstein

The central bank has lifted the lid on internal arguments. Also in this newsletter, is Kevin Warsh a hawk or weathervane?

Also in today’s newsletter: Macron calls on Europe to capitalise on its ‘Greenland moment’ and Cuba’s fuel crisis

What a stronger political mandate means — and doesn’t mean — for growth, inflation and financial markets