Shares in non-Chinese graphite producers rally after US unveils 93.5% tariff
Commerce department’s move follows Beijing restricting transfers of battery technology
Economic News
EU to use development aid to force third countries to cut migration
Also in this newsletter: Slovakia lifts its block on the EU’s latest sanctions against Russia
Michael Froman: ‘We are not taking the trade-offs as seriously as we should be’
Council on Foreign Relations president and former US Trade Representative on tariffs and Donald Trump’s deals
CBDC for thee but not for me
The cognitive dissonance of America’s pro-crypto policymaking
Brazil’s Lula hits back at Trump tariff threat as ‘unacceptable blackmail’
US president writes letter of support to former Brazilian leader Bolsonaro, who is on trial on coup charges
FirstFT: India air authority warns against speculation on Air India crash as new details emerge
Also in today’s newsletter, China’s Belt and Road Initiative expands, and Trump set to open US retirement market to crypto investments
Fear of market vigilantes should not hold back EU’s defence ambitions
While the political difficulties are real, the economic challenges are far from insurmountable
Can Trump fire the chair of the US Federal Reserve?
The president has a number of options to take action against Jay Powell, but they all come with risks
South Africa brushes off Scott Bessent’s absence at G20 meeting
Hosts say US still committed to grouping after Treasury secretary skips gathering of finance chiefs in Durban
A new cold war with China won’t help the US
Framing Beijing as a mortal enemy will hamper US growth and reduce Washington’s global influence