International - Financial Times - Credit Squeeze

The country is one of the most exposed in Europe to Trump’s tariffs, intensifying fears that a golden era of growth will slow down

Move by Washington takes levies on country to 50% for alleged unfair trade practices and trial of former president

US president says trade deal would lower 25% levy on cars and include $350bn investment

Two members of the US central bank’s voting committee dissent from decision not to lower borrowing costs

Detroit carmaker has secured a $3bn credit line to prepare for rising cash pressure

Washington follows through with plans to impose 50% levies on some products

US president lashes out at New Delhi’s trade policies and economic ties with Russia but signals deal is possible

Analysts polled by Reuters had expected zero growth between April and June

Production hit a record after a stretch of bad harvests but US tariffs threaten to change everything

European carmakers do not expect further concessions, despite lobbying for duties to be offset by exports from the US

The US president’s deals are not a win-win for the global economy

Rerouting of goods to currency area could result in up to 10% rise in cheap Chinese imports in 2026, say economists

Also in today’s newsletter, an investigation into Haitian gangs and turmoil at Novo Nordisk

Treasury secretary heads back to Washington after two days of talks in Stockholm

Plus European markets shrug at the US trade deal

The return of inflation has brought the public finances back under control

Threat of 50% US import tax leaves producers of orange juice, coffee and beef in fear of lost sales

Economic data, corporate earnings and tariff news could set the tone for the remainder of the year

Opaque restrictions risk damaging business confidence, experts and investors warn

Move marks Trump administration’s latest effort to withdraw from international organisations