Trump flip-flops on whether to fire Fed chair Powell
Also in today’s newsletter, US president reaps $50bn tariff haul as world ‘chickens out’
Economic News
China’s ASML endeavour and India eyes Taiwan ties
The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times
EU prepares list of potential tariffs on US services
Brussels also considering export controls if trade talks with Washington fail
UK economy sheds jobs for fifth consecutive month in June
Companies faced higher taxes and uncertainty from US trade war
Volvo Cars reports first operating loss since 2021 IPO
US tariffs and restructuring costs have hurt profitability
FirstFT: Donald Trump floats firing Fed’s Jay Powell
Also in today’s newsletter, US set to ban Chinese tech in submarine cables, and Nvidia chief vows to ‘accelerate recovery’ of China sales
Should China adopt a zero interest rate?
Policymakers in Beijing are deadlocked while some analysts believe rates are, in effect, at zero already
China’s Belt and Road investment and construction activity hits record
Rapidly expanding presence in countries signed up to Xi Jinping’s global initiative contrasts with US approach