International - Financial Times - Credit Squeeze

Policy change expected in Budget after sector said higher charges would push up food inflation for consumers

Javier Milei has wasted foreign exchange reserves trying to hold up the peso

Automotive exports to US plunge after levies imposed, piling pressure on Cyril Ramaphosa’s coalition

Beijing’s national security drive hits European groups even as Huawei maintains its business on the continent

Tory leader reaches out to voters hit by high energy bills but faces backlash from business and within the party

Peso, stocks and bonds all fall as investors fret over lack of details from Washington on rescue plan

Embracing protectionism to prevent Chinese dumping and appease Trump will fail — just like import substitution did

New measures would protect industry, but some countries fear that curbing low-cost imports could drive up prices

Figure marks first move above ECB’s target since April

Low unemployment and buoyant wages underpin gains, says lender Nationwide

Plus, who is paying the tariffs?

White House also drops bid to name Brian Quintenz as chair of the Commodity Futures Trading Commission

Also in today’s newsletter, fresh financial jitters in Argentina and one of the largest infrastructure deals of all time

Despite concessions, the US trade deal might not be so bad for Japan

Wage growth would help offset the impact of steep food price rises

Inflation of the sort reflected in the curry index has collided noisily with the country’s politics

Jamieson Greer says Trump administration has other ways to impose levies if use of emergency powers is struck down

Comments by Sarah Breeden and Catherine Mann reflect disquiet on Monetary Policy Committee over UK price growth

Figures from Bank for International Settlements show rapid growth of currency trading

Nations must work out how to contend with Trump’s America and China