International - Financial Times - Credit Squeeze

Prime minister’s praise of US president and decision to scrap levies on American goods fails to win deal

Treasury urges US banks to be vigilant to avoid being drawn into such schemes

America’s unpredictability risks pushing New Delhi and Beijing closer together

Rome complains about some of its Parmesan exports being hit with a 30% rate

The economist behind the ‘Sahm Rule’ talks recession trade-offs and the future of the Fed as tensions with the Trump administration escalate

Closely watched spending measure revised higher in GDP data as Fed weighs next move

Owner occupiers faced lowest rise in costs following cuts to mortgage rates over past year

Also in today’s newsletter, scandal at Australian bank ANZ and the booming business of Trump’s deportation flights

Western efforts to create a rival supply chain and break Beijing’s dominance will come up against challenges of cost and scale

Gilts hit hard by global rise in bond yields as ‘stagflationary’ concerns add to pressure on economy

History teaches us that chaos follows when leaders undermine the independence of central banks

This is how the cookie could crumble

Also in today’s newsletter, a US offer for postwar Ukraine and OpenAI-Microsoft talks likely to extend into next year

Additional levies over Russian oil purchases raise rates on New Delhi to among the highest in the world

Recycling plants in the bloc are shutting down capacity as US producers can pay more for European scrap metal

Head of venture capital firm talks about trusting founders’ intuition during a bubble, and the threat of mass job losses

The president’s intensifying assault on central bank independence risks backfiring

US president threatens retaliatory tariffs on countries that ‘discriminate’ against American tech groups

The central bank does not work properly if a president can bend it to his will

Immigration policy might turn out to be a bigger source of upward price pressure than tariffs on US economy