International - Financial Times - Credit Squeeze

As Trump flip-flops, the Unhedged team visits the IE Business School in Madrid

Elon Musk’s electric-car maker says levies could make it costlier to produce vehicles in the US

US president demands bloc scraps proposed duty on US whiskey

The EU has to act decisively if it is to adapt to a radically altered geopolitical landscape

Senator Steve Daines offers to act as intermediary in effort to secure meeting with President Xi Jinping

Also in today’s newsletter, government spending hit a record high last month

Premium investors’ demand to hold riskier debt jumps to highest level in six months

Also in today’s newsletter, Putin’s frontline visit and a new FT film on Nvidia’s rise

With wise policy, rearmament can for once be a source of unity rather than division

mammal, I’m throwed and I don’t know what to do

Plus China’s Two Sessions

The country wanted to do everything itself and largely still does

The collapse of the battery maker hurts Europe’s bid to rival China

Post-war security and trade framework crumbles under new US leadership

Annual session of rubber stamp parliament highlights Beijing’s shifting priorities amid AI breakthroughs and US tariffs

PM Christopher Luxon looks to put country ‘squarely on the map’ after Jacinda Ardern era

Figure bolsters case for cental bank to cut interest rates amid signs of slowing economic growth

The American egg shortage is lifting

Move comes after reports that retailer asked its suppliers to cut prices in response to US levies

Comments from Wall Street bosses come as president’s import tariffs fuel US recession fears