International - Financial Times - Credit Squeeze

Innovation has stalled in a globalised era dominated by state-sponsored national champions

The US president is trying to play Britain off against the EU

Beijing and London’s pacts with US create exceedingly uncertain future

Also in today’s newsletter, Hamas prepares to release US-Israeli citizen and AI programs tested on routine work tasks

Call for US-made goods seems to boost demand but trade deals may undercut pricing

Chinese company’s Hong Kong offering set to be biggest listing globally this year

And greedflation revisited

Markets rise and gold weakens as American and Chinese officials seek to de-escalate tensions

Wait-and-see approach from business leaders is prudent but risks paralysis

Trump’s new film tariff proposal is bad economics but smart politics

Unusual swings in markets and consensus economic narratives point to longer-term forces

Beijing’s aggressive pursuit of energy self-sufficiency could give it the upper hand in the trade war with the US

In a world of growing disorder, the European project is now about hard power

Beijing’s self-reliance drive accelerates as groups seek out local suppliers in response to tariffs

Plus, Cannes opens under the cloud of US tariffs, and Romania likely to pick an ultranationalist president in run-off election

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

Removing inefficiencies at home is even more important in a trade war

Market swings caused by Trump’s levies may be ‘tipping point’ for foreign investors, Congressional Budget Office chief says

Colombian plan to join Beijing’s Belt and Road Initiative triggers threat from Washington

Newly formed Vinarchy expects growth in Canada and Latin America as US brands fall out of favour