International - Financial Times - Credit Squeeze

Possible phased approach to new US levies reflects debate over trade strategy within administration

Also in today’s newsletter, the four themes dominating the discussion at the FT’s Commodities Global Summit

Move could sharply increase levies on China and India as big purchasers of Caracas’s crude

Plus politics versus markets in Turkey

Agriculture industry could be hit hardest if fees of up to $1.5mn per vessel docking were implemented

Labour-intensive manufacturing is vanishing and millions of jobs could be lost, with repercussions for stability and growth

Some of Matt’s stock picks have struggled, and he’s questioning his strategy

Visiting executives include Apple’s Tim Cook and Pfizer’s Albert Bourla as Beijing seeks investment

Support for travel, tourism and sports comes as Beijing doubles funding for goods trade-in scheme to $41bn

Tech equities lead rebound as Tesla gains almost 12%

The threat of tariffs will not spark a manufacturing renaissance

Every day brings a new drumbeat of maritime risk

While the US flails, the EU ponders how to deal with Chinese car subsidies

The US would suffer from the blowback if it impoverished its southern neighbour

Wage growth has outstripped property price rises, official figures show

Also in today’s newsletter, Turkey’s main opposition leader formally arrested, and the new nuclear arms race

Papal bull

Also in this newsletter: Erdoğan’s crackdown on the opposition complicates EU relations

It might be time to consider a pause in unwinding the ECB’s pandemic-era asset purchasing programme

Katsunobu Kato echoes concerns that rising prices are still being driven by a weak yen and high commodity costs