International - Financial Times - Credit Squeeze

‘Taco trade’ dominates as stocks, bonds and currencies remain calm

Levies on world’s top arabica producer rattles investors in sector

Also in today’s newsletter, Moët Hennessy’s sexual harassment case and questions over the Federal Reserve’s independence

What will the global economy look like if it loses its monetary anchor?

Companies including Ford warn that steep levies for car carriers will prove counter-productive

Ivanhoe Mines founder Robert Friedland welcomes 50% import levy and says domestic production is ‘fundamental’ to US security

Jakarta’s push for further postponement comes as EU countries call for ‘onerous’ rules to be simplified

No sensible government would think of emulating his trade policies as they have his other plans

Delays in dealing with fiscal pressures risk further damage to household consumption, corporate investment and overall growth

The US president has stepped up his criticism of the central bank’s chair, prompting some to question how long it can remain above politics

Policymakers fear cutting borrowing costs to boost economic growth could drive capital’s real estate prices higher

US president accuses country of launching a ‘witch-hunt’ against former leader Jair Bolsonaro

Brazil signalled it would respond after being hit with a high 50% levy on goods shipped to the US

Minutes from US central bank’s June meeting highlight schism over effect of Donald Trump’s levies

Export growth has been strong but not lived up to its potential

The bloc of heavyweight emerging markets has grown bigger but less coherent

CEO to talk with Chinese officials next week, aiming for September unveiling of processor compliant with US export controls

LME price sinks as traders bet any levies will ultimately hit demand for industrial metal

Trade levies could solve the supply-demand problem but they are a blunt tool

Shares in drugmakers show little reaction to US president’s latest pronouncement