International - Financial Times - Credit Squeeze

Labour-intensive industries such as textiles and jewellery projected to be worst hit by US levies

Fiscal systems designed around income and consumption struggle to capture wealth, and billionaires are highly mobile

Chamber urges Beijing to lower trade barriers as businesses suffer bottlenecks over critical minerals

SMIC tests domestically made machinery as Beijing seeks to rival US-made processors

Erika McEntarfer warns undermining official statistics would leave the country on a par with Turkey and Argentina

Washington calls for comments from businesses ahead of possible renegotiation of the USMCA

Jeffrey Epstein affair will hang heavily over trip after Sir Keir Starmer’s sacking of Lord Peter Mandelson

Chancellor Rachel Reeves hopes greater regulatory alignment will allow better access to America’s deep capital markets

Brussels and Jakarta to sign pact next week as they seek to reduce reliance on US

Keir Starmer favours making ‘permanent’ Britain’s preferential 25% rate, according to allies

The bulk of UK jobs are in the everyday economy, not internationally competitive clusters

The central bank will set the coming year’s asset sales target without much clue of the effects

Also in today’s newsletter, Senate confirms Stephen Miran’s nomination and Switzerland’s investment in US tech

Former Italian PM frustrated with ‘inaction’ a year after his report on how to improve Europe’s competitiveness

Seoul balks at following Tokyo in letting Trump decide where to invest billions of dollars of its capital

Inflation is the biggest risk

WAM! Make It Small

Brussels steps in as ‘Wassenaar’ pact on stopping transfer of dual-use technology is hobbled by Moscow

China’s production caps have ‘materially changed the market’ and helped push down stocks in warehouses

Donald Trump says talks with Beijing have ‘gone very well’ and plans call with Xi Jinping this week