International - Financial Times - Credit Squeeze

Carmakers have cut or withdrawn guidance for this year as impact of trade war remains unclear

The darkest hour and the dawn

A tariff is a tax, but a tax is not a tariff

The fallout from the chaos unleashed by Trump’s tariffs is set to be significant, with governments, multinational organisations and companies all scrambling to respond. But some consequences may prove surprising

Trade war leads ecommerce group to seek steep discounts from sellers, particularly from China

Against an uncertain policy outlook, we need to utilise durable economic statistics that tell the real story

Director-general of the multilateral institution says challenge could be beneficial, but others warn of looming ‘chaos’

Ioneer’s Rhyolite Ridge project part of US ambitions to secure supply of critical minerals

Challenges include achieving unity among member states on trade pacts and its negotiating stance with the US

The WTO may be weakened, but a pragmatic resistance to protectionism among other nations could save world trade

Sustainable adjustments to trade imbalances require supportive monetary and fiscal policies — not just currency intervention

The unravelling of complex supply chains will put major industries at risk, even in the US, executives say

There are relatively orthodox figures in his administration, but they lack consensus and the inclination to stand up to him

Developing nations face a poisoned chalice of influx of cheap goods from China and tariff penalties for trade diversion

Market suffers one of ‘greatest tightening shocks’ in its history as traders race to get ahead of potential levies

Extra costs have hit price competitiveness of many groups while some have struggled to expand distribution networks

Increase in price of essential items comes as retailers grapple with higher employment costs

The reaction of the markets, politicians and media to Trump’s tariff shock may have averted an arms race

Incumbent leaders are benefiting from standing up to US bullying rather than currying favour

Also in today’s newsletter, Trump criticises Putin and a visual story on why Apple’s iPhones still need China