International - Financial Times - Credit Squeeze

Fed chief Jay Powell warns that Trump’s levies will slow US growth and increase inflation

Market for public listings had begun to show some signs of life but fallout from levies has forced groups to hold off

China’s retaliation against Washington’s levies adds to sense of gloom across global markets

When his back is to the wall, he is at his most dangerous

Banks ask clients to stump up additional money as global market sell-off knocks value of holdings

Washington’s two biggest trade partners still face a host of levies from their neighbour

The US president wants to unwind decades of economic integration. The risk of a 1930s-style global trade war is causing markets to panic

Country seeks improved trade deal with US after rate applied to British imports

Trump says Beijing ‘panicked’ and vows not to back down

Fed chair emphasises that ‘significantly larger than expected’ tariffs may lead to ‘more persistent’ inflation

The Fed Chair says he plans to serve out his term

Italy will effectively have casting vote on whether to support use of anti-coercion instrument to hit US services exports

Despite inflation concerns, slowing growth raises expectations of rate cuts

Re-localisation opportunities are limited and building new plants and factories will take time

America’s tariff onslaught will drive upheaval well beyond trade

Parks Tau backs pivot to China in face of high levies from Donald Trump administration

Investors and companies can adjust to most things when they know the rules but under Trump, the rules keep changing

Amid tariffs and potential demand destruction, it is hard to imagine the carmaker regaining much lustre

Industry blindsided by 25% levy and confused whether it applies only to products imported in cans

Also in today’s newsletter, South Korea’s president removed and Microsoft marks its first half century of trading