The UK’s indefinite gamble in dealing with Trump on tariffs
You can make a reasonable case for Starmer’s transatlantic trade pact but it’s subject to continual risk
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Mars to invest €1bn in European manufacturing as US demand slows
Consumer goods group pledges spending as EU regulators probe its proposed acquisition of Kellanova
Trump tariffs on EU medical devices will drive up US patient bills, industry claims
Health technology, from stents to CAT scanners, was historically exempt from import duties for ethical reasons
Scott Bessent’s chief of staff set to move to IMF
Dan Katz expected to become second to fund chief Kristalina Georgieva
Indonesia ponders pro-growth mandate for central bank as economy flags
Economists fear that president is trying to strengthen control of governing bodies with revision to draft bill
FirstFT: China bans tech groups from using Nvidia chips
Also in today’s newsletter, tricky questions cloud Trump’s UK state visit, and taxing the super-rich
Surging US power costs defy Trump’s pledge to halve bills
Electricity price inflation sparks political debate ahead of elections
AI risks widening global wealth gap, WTO warns
Poorer countries need to be able to share benefits of artificial intelligence, report says
China lifts exit ban on Wells Fargo banker
US citizen Chenyue Mao had been restricted from leaving country under opaque measure for several months
UK inflation holds steady at 3.8% in August
Figure strengthens case for Bank of England to leave interest rates unchanged on Thursday
India’s participation in Russian war games mars EU’s partnership pitch
Also in this newsletter: EU rights agency raises alarm about growing discrimination against intersex people in Europe
US ‘bullying’ countries to drop climate goals, warns Al Gore
Trump officials putting pressure on countries through trade negotiations, former vice-president says
Trump’s trade war hits tea sales at ‘King’s grocer’
Tougher stance on country of origin rules and scrapping of de minimis exemption drives up price in US
In charts: What Trump’s tariffs mean for India
Labour-intensive industries such as textiles and jewellery projected to be worst hit by US levies
The problem with taxing the rich
Fiscal systems designed around income and consumption struggle to capture wealth, and billionaires are highly mobile
EU companies suffer renewed China rare earth licence delays
Chamber urges Beijing to lower trade barriers as businesses suffer bottlenecks over critical minerals
China trials its first advanced tools for AI chipmaking
SMIC tests domestically made machinery as Beijing seeks to rival US-made processors
Fired BLS chief calls Trump’s attack on US data agency a ‘dangerous step’
Erika McEntarfer warns undermining official statistics would leave the country on a par with Turkey and Argentina
US begins review of trade deal with Canada and Mexico
Washington calls for comments from businesses ahead of possible renegotiation of the USMCA
Pomp and protest: Donald Trump starts second UK state visit
Jeffrey Epstein affair will hang heavily over trip after Sir Keir Starmer’s sacking of Lord Peter Mandelson
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