International - Financial Times - Credit Squeeze

Carve-outs are for heavy vehicles and their parts that are compliant with Donald Trump’s 2020 trade pact

NHS likely to pay billions more for some medicines in exchange for lower tariffs on British pharma exports

The AI boom is helping to sustain growth but demand is coming from the richest consumers who own stocks while poorer Americans are being squeezed

Delay and darkness suggest the UK government is scared of making decisions

Eleventh hour derailment of the UN-backed emissions deal comes after US president labels it ‘green new scam’

Industry warns of disruption to European production following Beijing’s retaliation for Dutch government’s seizure

The contradictions in economic signals can still hold lessons for investors

Financial crises and their consequences may be harder to arrest today than in the past

Also in today’s newsletter, commander of US Southern Command to step down, and John Bolton charged

Its dual dependence on America’s digital services and Beijing’s critical mineral processing industry leaves it highly vulnerable

Goldwind’s vice-president Kai Wu says the country’s cost advantage has become ‘huge’

The US and China stand-off over the metals of the future

Worn-out top-down approaches won’t help us build lasting shared prosperity

Move could ease trade tensions between Washington and New Delhi, which have been in a stalemate since August

The FT’s economics commentator replied to reader questions in a live Q&A

Flow control — Chinese bank edition

Pressure on homeowners eases in third quarter as ‘drag’ from high interest rates fades, BoE survey shows

Flat-pack group moves to increase domestic sourcing as it faces tariffs of up to 50% on wood products

Also in today’s newsletter, German calls for a Europe-wide stock exchange and Trump considers Venezuela land strikes

America’s use of import duties has been constrained by financial markets and economic reality