International - Financial Times - Credit Squeeze

Sabih Khan will oversee iPhone maker’s supply chain at a time of huge trade uncertainty

Trump floats 200% tariff on medicines, while threat of 50% levy on copper imports sent price of metal to record high

Britain’s ability to respond to future shocks is ‘substantially eroded’ because of high debt, says fiscal watchdog

Goldman Sachs joins other banks in lifting end-of-year target for S&P 500 index

Also in today’s newsletter, White House pushes back on allegations that workforce cuts hampered Texas flood alert

Being ‘one of us’ matters amid US presidential challenge

PM Shigeru Ishiba’s insistence on total relief from Donald Trump’s levies was a miscalculation, analysts say

Also in today’s newsletter, Trump revives threat of ‘reciprocal’ tariffs and battle for young bankers

White House extends deadline for ‘reciprocal’ levies from July 9 to August 1

And that might become a problem

Data this week expected to show prolonged bout of deflation in factory prices is running unchecked

Complaints made against Swiss bank over losses on foreign exchange derivatives in wake of US tariff announcements

The country’s latest sanctions are proving far more effective than prior efforts

Rotterdam has started reserving space for Nato supply ships and planning military exercises

Host Brazil criticises US president as being ‘very irresponsible’ for vowing extra levies on states aligned to group

Deadline for countries to sign deals with Trump expires on Wednesday

Xu Zewei suspected of links to Beijing-backed group accused by Washington of stealing Covid-19 vaccine secrets

There is an opportunity for the continent as investors look to diversify away from the US dollar, but seizing it will be difficult

The EU in particular has failed to stick to a strategy

Also in today’s newsletter, investors pour billions into tokenised mutual funds, and Musk creates new political party