International - Financial Times - Credit Squeeze

Also in today’s newsletter, the US dollar’s historic start to the year and the ‘choke points’ holding back Chinese industry

Structural shifts such as AI and geopolitical fragmentation make world more volatile, says central bank

Member states will be expected to lift import bans on Kyiv’s produce

Donald Trump’s trade policies and rising debt levels have sparked decline of more than 10% in first half of 2025

Political will cannot be magicked into existence by replacing the WTO

Also in today’s newsletter, Canada scraps tech tax and Wimbledon returns

Rising wages in the first quarter were offset by increases in tax and inflation

Factory contraction highlights pressure on policymakers to boost domestic demand amid trade war

Also in this newsletter: Could late entrants to the Eurogroup race take Paschal Donohoe’s crown?

US president described levy as ‘direct and blatant’ attack on the country

Additional customs inspections cause long delays that threaten to disrupt global supply chains

Barges and container ships face unusually long waits at major hubs with problems expected to last several months

Once ascendant online retailers are shifting focus to Europe as US-China trade dispute takes a heavy toll

To date, the Trump shock is that he has had so little impact

Despite its prowess, China has not been able to overcome dozens of ‘choke points’ that are the essential building blocks of modern manufacturing

FT-Booth survey reveals broad concern over president’s measures and criticism of central bank

Tariffs are not the only flashpoint; another economic policy war is shaping up

Prioritising defence and clean energy may deliver some objectives — but not this one

Market Questions is the FT’s guide to the week ahead

The president is undermining his own desire for lower interest rates