International - Financial Times - Credit Squeeze

Also in this newsletter: Is the EU ban on Russian gas legal?

Anthony Albanese touts tourism and steel co-operation on six-day China trip that is clouded by Trump turmoil

World’s second-biggest economy on track for full-year target despite weak demand at home

Also in this newsletter: is the Modi government massaging economic data?

Investigations could lead to tariffs on unmanned aircraft systems and polysilicon

Trump says he is ‘very unhappy’ with Moscow for lack of progress on a ceasefire deal

Cashmere brand becomes fifth fashion house to be monitored in probe into labour rights violations in Italian supply chains

America’s bullish stock market is at odds with Trump’s policy agenda

Bloc’s trade commissioner Maroš Šefčovič said duties at that level would make transatlantic trading ‘almost impossible’

Exposed to US and European duties, the Geely-owned group has already announced a cut of 3,000 jobs globally

Analysts say much sharper sell-off likely if 30% levies on EU come into force

Beijing’s antitrust regulator had paused process in May as Trump administration tightened access to chip design tools

The US president’s bullying of Brazil is particularly inept

Also in today’s newsletter, bitcoin surges past $120,000 and investment banking’s bad run

Eurozone’s biggest economy could have grown 50% more between 2021 and 2024, study finds

Strong trade data come ahead of second-quarter GDP growth expected to cheer Beijing

Also in this newsletter: New initiatives to better protect kids online

After warm relations during his first term, Tokyo has not adapted to Donald Trump’s transactional approach in trade and defence

Teresa Ribera indicates room for co-operation with Beijing on climate change despite trade tensions

European Commission president Ursula von der Leyen calls for negotiated solution to dispute