International - Financial Times - Credit Squeeze

The concern now among bankers and hedge fund managers is that something, somewhere could break

Consultants are helping clients lower the customs value of imports to cut the cost of new levies

Donald Trump’s tariffs could cause long-lasting damage to US alliances, Wall Street banker tells shareholders

Also in today’s newsletter, UK to water down private equity rules and Marine Le Pen denounces “witch-hunt”

Asian and European indices and US futures fall in wake of worst week for Wall Street equities since pandemic

Britain lacks leverage in Trump tariff negotiations, with UK diplomatic and economic priorities looking increasingly European

The fallout from ‘Liquidation Day’

If global long-only funds start to rotate out of risk the market, turmoil could get worse

And a warning from Canada’s job numbers

Plus, Fink warns on protectionism, US junk bonds sell-off, and the Dolce Vita Orient Express

Also in this newsletter: Why Meloni holds the keys to the EU response to Trump’s tariffs

And it’s almost 50-50 even if they don’t

Given its record, the risk is that the US central bank will do just that

Yannis Stournaras says looming trade war likely to weigh heavily on Europe’s economic growth

Beijing has room to enforce export controls more strictly and step up pressure on US companies

Duties pose one-two punch for an industry already reeling from renewed embrace of fossil fuels

There are other tools of economic coercion in the modern global economy

The country will effectively have deciding vote on whether to hit back hard against US tariffs

Treasury secretary rejects recession fears and says tough ‘reciprocal’ levies will not be delayed

New rules will allow manufacturers to sell full hybrid and plug-in hybrid vehicles until 2035