Economists favour Waller to lead Fed but expect Trump to pick a loyalist
Kevin Hassett seen as most likely to replace Jay Powell under pressure from president, according to FT survey
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Trump adviser signals support for renewing US-Africa trade pact
Massad Boulos says administration backs ‘objectives’ of 25-year-old Agoa, which will lapse next week
US soyabean farmers squeezed as China blocks imports and stockpiles rise
Overseas sales of top US export crop plummet as trade talks between Washington and Beijing stall
China industrial profits return to growth
Boost comes as Xi Jinping calls on companies to stem aggressive price competition
US lifeline for Argentina relies on IMF backstop, say analysts
Trump administration’s $20bn swap line threatens to load even more debt on to struggling South American country
US set to honour 15% tariff cap on drugs from the EU and Japan
Ceiling on pharma levy will be in line with trade deals Tokyo and Brussels have with Washington
UK to offer to pay more for drugs to placate Trump and pharma groups
Prime minister’s chief business adviser Varun Chandra due to hold talks in Washington next week
Double-Fomo driving US markets
The allure of US exceptionalism and AI is still drawing investors despite concerns over Trump’s policies
Trump announces 100% tariffs on branded pharmaceutical products
Drugmakers’ shares fall modestly after president exempts companies with big US investments
China’s industrial policy is destroying its economy
Subsidies distort. Massive subsidies distort massively.
Martin Shkreli’s ‘ugly, dirty truth’ looms over UK drug pricing backlash
Pharmaceutical companies fight to protect margins as Trump attacks international pricing disparity
FirstFT: Gaza peace plan takes shape
Also in today’s newsletter, inside an iPhone factory in China and a report on the divorce capital of the world
Trump tracker: the latest data on US tariffs, trade and economy
As the president launches a trade war, follow the latest on tariffs and executive orders
China launches sweeping probe into Mexican tariffs as trade war widens
Beijing has warned third countries against bowing to Donald Trump’s pressure to curb Chinese exports
US economic growth rate beats estimate
Consumer spending figures revised higher driven by increases in purchases of transportation and financial services
Ex-Fed chiefs urge Supreme Court to deny Trump’s bid to remove Cook
Top officials from across political spectrum warn president’s move would jeopardise central bank’s independence
Taiwan backtracks on chip export curbs to South Africa after China spat
Ban would have made unprecedented use of island nation’s technological dominance for diplomatic retaliation
European officials fear Trump’s new stance on Ukraine war is ‘start of a blame game’
The US president’s latest comments on Russia-Ukraine conflict met with wariness in Europe, in a sign of transatlantic mistrust
European officials fear Trump is preparing to blame them for Ukraine failure
Poland’s Tusk warns new US posture conceals a ‘shift of responsibility’
FirstFT: China sets climate emissions reduction target
Also in today’s newsletter, Europe’s ‘impossible’ Ukraine mission, and stablecoin issuer examines ‘reversible’ transactions
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