FT News Briefing

US President Donald Trump doubled tariffs on steel to 50 per cent this week. He’s also allowing Japan’s Nippon to buy the US Steel Corporation. The moves are meant to bring back manufacturing to America’s steel industry. But will they? FT senior trade writer Alan Beattie and Zehra Munir, the FT’s industrial reporter, discuss whether Trump can make good on a popular promise.  Mentioned in this podcast: It’s always steel — tariffs provide Trump with a familiar trade weapon [https://on.ft.com/43NXF0V] Donald Trump’s US Steel gamble: Pennsylvania workers warm to Nippon tie-up [https://on.ft.com/4mKp9xb] Sign up for the FT’s Trade Secrets newsletter here [https://www.ft.com/trade-secrets] Sign up for the FT’s Swamp Notes newsletter here [https://ep.ft.com/newsletters/56a64b704f693a0300dfab7e/subscribe] Swamp Notes is produced by Katya Kumkova, Henry Larson and Lauren Fedor. The FT’s acting co head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.  CREDIT: The White House YouTube channel ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

US President Donald Trump and China’s leader Xi Jinping agreed to launch a new round of high-level trade talks, the European Central Bank cut interest rates by a quarter point and Europe is being flooded with steel diverted from the US because of high tariffs. Plus, the FT’s Aanu Adeoye explains how a Russia-backed junta leader in Burkina Faso became an icon across Africa.  Mentioned in this podcast: Donald Trump and Xi Jinping agree to launch new round of trade talks [https://on.ft.com/4kpLpLb] Christine Lagarde signals ECB rate-cutting ‘nearly concluded’ [https://on.ft.com/3HGTJaR] ‘The cult of Saint Traoré’: how a Russia-backed junta leader became an icon [https://on.ft.com/3ZRQung] EU hit by surge in steel imports as US tariffs divert shipments [https://on.ft.com/43OUhTF] Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Henry Larson, Fiona Symon, and Marc Filippino. Additional help from Sam Giovinco, Michael Lello and David da Silva. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.  Read a transcript of this episode on FT.com [https://www.ft.com/content/0e9bfd2e-7686-4667-b8ac-904a05191f2a] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Apple’s rollout of artificial intelligence services in China with Alibaba is being held up, Wells Fargo faces an uphill battle to catch up with its rivals after asset cap was lifted, and US President Donald Trump says Russian President Vladimir Putin is not ready for “immediate peace” with Ukraine. Plus, the European Commission has finally given Bulgaria the green light to join the Eurozone in 2026. Mentioned in this podcast: Apple and Alibaba’s AI rollout in China delayed by Trump trade war [https://on.ft.com/4dMhD0V] Wells Fargo has finally shed its dunce cap [https://on.ft.com/43MMDcm] Wells Fargo asset cap lifted after ‘fake accounts’ scandal [https://on.ft.com/3HsMzY0] Putin planning to retaliate for Ukraine drone attack, says Trump [https://on.ft.com/43UvaPw] Bulgaria to join Eurozone in 2026 [https://on.ft.com/3FqKhbc] Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/d2131fe2-9245-4355-856c-6c4aec4235f1] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Dutch Prime Minister Dick Schoof resigned after far-right leader Geert Wilders walked out of his coalition government, Mexico’s new supreme court is set to solely contain judges nominated by the ruling coalition, and Eurozone inflation fell below the European Central Bank’s 2 per cent target. Plus, the FT’s Akila Quinio explains how the Royal Bank of Scotland was nationalised in the wake of the 2008 financial crisis and then reborn.  Mentioned in this podcast: Far-right Dutch leader Geert Wilders quits government [https://on.ft.com/3SB5Cl5] Tiny slice of Mexicans elect supreme court closely tied to ruling party [https://on.ft.com/3Z9UHCI] Eurozone inflation falls below target to 1.9% [https://on.ft.com/4jwxstC] The RBS story: how the world’s biggest bank was nationalised and then reborn [https://on.ft.com/3FkbyMs] South Korean leftwinger Lee Jae-myung wins presidential election [https://on.ft.com/45CQn2C] Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Fiona Symon, Mischa Frankl-Duval, and Marc Filippino. Additional help from Blake Maples, Michael Lello, and Gavin Kallmann. Our intern is Michaela Seah. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/6703f027-eb2e-439a-9fbf-ed44b3f69bf7] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Elon Musk’s xAI is launching a $300mn share sale that values the group at $113bn, and China’s property sector woes are compounded by tariff worries. Plus, Poland’s new president is going to make life hard for the country’s prime minister, and the FT’s Amelia Pollard explains why US president Donald Trump wants to take mortgage giants Fannie Mae and Freddie Mac private.  Mentioned in this podcast: EU companies more concerned about China slowdown than tariffs [https://on.ft.com/43DCqyU] Donald Trump’s plans for Fannie and Freddie would mean payday for hedge funds [https://on.ft.com/4knwyRq] Nationalist candidate Karol Nawrocki wins knife-edge Poland presidential election [https://on.ft.com/43GOYWl] Elon Musk’s xAI seeks $113bn valuation in $300mn share sale [https://on.ft.com/3SsNt94] Today’s FT News Briefing was produced by Sonja Hutson, Ethan Plotkin, Kasia Broussalian, Fiona Symon, Mischa Frankl-Duval, and Marc Filippino. Additional help from Blake Maples, David da Silva and Gavin Kallmann. Our intern is Michaela Seah. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/6601dbe1-df04-4218-a460-375c9311417e] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.